Moving Home Mortgages

Expert Advice For Those Moving Homes

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Are you thinking of moving home? Maybe it’s time to upgrade or start a family? Seeking a moving home mortgage? Whatever your reason, we at Bespoke Home Finance can make the process a little easier.

Moving home can be extremely exciting but stressful at the same time. Simply put, it is a life-changing decision and it’s important to get the right moving home mortgage.

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Seeking a Moving Home Mortgage?

If you’re planning on moving home and already have a mortgage for your current home, the following needs to be considered:

-Does the mortgage have early redemption penalties? (a penalty fee you may have to pay if you choose to leave a mortgage during the agreed period of the deal).
-Is the current mortgage portable?
-Will additional borrowed funds be needed to buy the new home?
-Is the current rate better than any new rates that can be obtained in the open market?
-Will any penalties apply if I move home whilst I have a mortgage?

At Bespoke Home Finance, we’re more than happy to provide you with all the answers to the above questions as well as more information you may need.


Our advisors are just a phone call away for any queries or advice.

What Happens to Your Mortgage When You Move?

Even though you’ve already gone through the lengthy process of getting a mortgage for your first ever home, it doesn’t necessarily mean that getting a mortgage the second time around will be easier.

That is why we are here to help. This is a great opportunity to review your mortgage arrangements, so we can find the best deal for you.

If you currently have a mortgage on a house and are planning on moving home, but wondering what happens to your current mortgage and whether you can keep it, we have the answers for you. Your mortgage is secured on your current existing property. When you move, your legal representative should pay off your mortgage for that existing house in full.

If you’re planning on moving home and buying that property, you need to start a new moving home mortgage.

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    How Does the Value of Your Current Property Affect Your Moving Home Mortgage?




    If you are choosing to move to a larger and more valuable house than the one you currently have, you will need to prove that you are able to afford the higher rates. 

    You will have a higher chance of obtaining a moving home mortgage if your current house has risen in value since you purchased it.

    You also have a higher chance of receiving a moving home mortgage offer if you show your lender that your wages have increased or your outgoings have decreased, thus reassuring them that you can make the necessary repayments comfortably. 

    If you have had any issues in the past with meeting your mortgage payments, there is a chance that it could affect your ability to secure a moving home mortgage offer.




    If you are choosing to move to a smaller and cheaper house than your current one, the size of your loan and monthly repayments will evidently decrease, thus making it easier to secure a moving home mortgage. 

    You might also be able to buy a new home outright if the value of your current home has increased and the difference between the two properties is wide enough.

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    Negative Equity


    If your current home has decreased in value since you have purchased it then it is in negative equity. Unfortunately, this makes it more difficult for you to secure a moving home mortgage.

    However, some lenders may offer you a moving home mortgage if the move is absolutely necessary. 

    At Bespoke Home Finance, we take great pride in our work. Knowing we have taken every consideration into detail when searching for the mortgage, we know that you will be more than happy with the outcome.

    At Bespoke Home Finance, you will always be provided with honest and transparent information to assist you in finding the best deal. 

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    Looking for a First-Class Plan for your Mortgage?

    Advice From Bespoke Home Finance

    If you are looking for trustworthy and professional advice to guide you every step of the way, then look no further than Bespoke Home Finance. 

    If you are looking to move homes and secure a moving home mortgage, we are here to help. Call us today on 03301112477 or fill in a contact form. 

    We look forward to hearing from you and remember, there is no obligation or no high-pressure tactics on ours. Based in Scotland, we offer our mortgage services in Edinburgh, Glasgow, Scotland and all across the UK too!