UK Mortgage Glossary
Porting
Transferring your current mortgage to a new property.
Full definition
Moving your existing mortgage product (rate, term, conditions) onto a new property when you move home. Avoids ERCs from breaking the current deal early. Subject to a new affordability and property assessment. Useful when your current rate is much lower than current market rates.
How this affects you
Whether porting is relevant to your mortgage depends on your circumstances — lender, product, deposit, employment, credit profile, and stage of application. An FCA-authorised mortgage broker will tell you exactly where it applies to your case.
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