Home Mover Mortgages

Planning to move house? Whether you are upsizing or downsizing, we have access to offers across the market to aid in helping you find the right home mover mortgage including the transfer of any existing borrowing.

Helping you buy your next home

Mortgage advice for home movers

At MME, our referral partner’s in-depth industry knowledge ensures that we will find the right mortgage for you. We can often find exclusive mortgage offers that are not available on the high street. Our referral partners are thorough and will base recommendations on your exact personal circumstances. By understanding your objectives and your aspirations, we can find suitable mortgage solutions. We always aim to keep the process as simple as possible.

Applying for your mortgage

Our referral partners are focused on helping you buy your next home. Working closely with your solicitor and estate agent, we will find a mortgage offer that ensures you can complete on your property purchase. Getting a new mortgage usually takes between 4 – 8 weeks.

The initial process entails:-

  • Assessing your income be it PAYE or through self employed means to determine the borrowing capacity available.
  • Talk through your plans, so that we can recommend suitable mortgage products.
  • Explain the costs and terms of our mortgage recommendation.
  • Conduct background checks through a credit reference agency prior to securing an appropriate mortgage agreement in principle.
How much can you afford to borrow?

Before starting the search for your new home, step one is to find out how much you can borrow from a lender to better understand the scope available for your onward purchase. 

Next is to secure an Agreement in Principle (AIP) which is essentially the lenders provisional acceptance confirming how much you might be able to borrow. If you are buying a property for the first time, then please visit our First-Time Buyer mortgages page.

  • An Agreement in Principle (AIP), involves a soft credit search with a lender resulting in a provisional acceptance being given & an indication on the sum you can borrow.
  • It’s also known as a ‘Decision in Principle (DIP), or ‘Mortgage in Principle (MIP).
  • An AIP shows to an estate agent that you are in a proceedable position subject to an offer being accepted on a property.
  • If you are tied into your existing mortgage, your lender may allow for this to be ported over to a new property. One of our experts will be able to determine if this is feasible subject to the standard affordability checks.
Unsure what you can afford to borrow?

Use our helpful mortgage calculators

If you require a new mortgage, then you will need to know the amount you’re eligible to borrow. Use our mortgage calculator for a quick and reliable outcome of potential repayments based on your desired deposit.

The Process for Home Mover Mortgages

Learn what’s needed for your mortgage application when you are moving from one property to another. Whether you have moved recently, or you’ve been in your home for a while, it’s worth taking the time to understand what’s involved. Let us walk you through the process step by step.

Stage 1

What information is needed for a mortgage application?

Our referral partners will need the following information from you before we can make your application.
  • Your income details.
  • Your expenses and outgoings, including any loans and credit agreements.
  • Your home addresses for the past 3 years.
Stage 2

What mortgage is suitable for you?

Many people switch to a different mortgage when they buy a new home, instead of porting over their mortgage. Usually, this is because there could be more suitable mortgage deals available, but it will depend on your mortgage type and lender.
  • If you are wondering whether to get a 5, 10 or 20-year mortgage, then we will ask you to consider various factors. This includes the reason you are moving, how long you plan to live in your new home and what you can afford in terms of repayments.
  • If you have an existing fixed mortgage with a good rate, then it’s worth asking your lender if it’s portable. If you cannot port your mortgage over to your new home, then we will find a mortgage for you.
  • Once you have an Agreement in Principle, the lender will then underwrite your application and verify all the information. They will carry out a valuation of the property to check there are no issues. When the lender is happy, they will send over a mortgage offer to you and our referral partners.
Stage 3

Do you need a deposit?

Whether you are applying for a new mortgage or porting over your existing mortgage, you will still need a deposit:
  • You will need a cash deposit when you exchange contracts.
  • If your deposit needs to come from the sale of your home, then this will be transferred on completion.
  • If you are porting over a mortgage, your deposit is likely to come from the equity acquired on your current property.

Get an idea of cost with our helpful mortgage calculators

Progressing with your mortgage planning hinges on the amount you’re eligible to borrow. Utilise our mortgage calculator for a swift and dependable assessment when you require rapid financial analysis.

Calculate your monthly repayments

For both repayment and interest-only mortgages

Repayment Calculator

Find out how much stamp duty you will pay

Based on the purchase price of the property.

Stamp Duty Calculator

MME Insights

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