Moving Home

Moving home is considered to be a stressful time by many, but it does not need to be. With our expert help, we can guide you and get you the very best mortgage for your situation.

As experienced mortgage advisers we’ll provide you with quality, professional mortgage advice that you can trust.

We’re specialist mortgage brokers and have access to the whole of the UK market. We’ll search 1000’s of mortgages to find you the best deal possible, because every ideal home needs an ideal mortgage.

Can I move my existing mortgage to my new property?

If you are moving home, you can often move (port) your existing mortgage to your new home.

Although the mortgage market has gone through considerable change over the last few years and following the Financial Conduct Authority’s Mortgage Market Review, you may find that your existing lender may not be able to offer you the amount that you need to buy your new home.

Our mortgage agents can check all this for you if you want us to arrange your mortgage.

Thinking about renting your current home?

If you’re moving home, you may wish to keep your current home and transform it to a property to let – this is also known as “Let To Buy”

If you decide to do this, you will need a buy to let mortgage.  One other options is to ask your current lender for their consent to let the property out. This may involve switching your mortgage to a buy to let rate if lender allows this or they will grant you a consent for an additional fee.

Alternatively, you can remortgage to a new lender on a buy to let deal.  If you plan to stay with your current lender, you must inform them that you intend to let your home as failure to do so could mean a serious breach of contract.

If you need to release some equity from your current home to fund your new purchase, you can do this at the same time when remortgaging to a buy to let. For this you will need to satisfy lender’s criteria. At themortgagechoice we’re mortgage specialists and can help with this.

How much can I borrow?

As an experienced mortgage broker, we know that every lender across the market will vary on how much they will lend you. We will help to work this out for you, by doing simple affordability check using lenders affordability calculator (no credit scoring involved). We will then advise you which lender is most suited and recommend you the best possible mortgage for your situation.

How much Stamp Duty will I pay?

Stamp Duty Land Tax (SDLT) is a fee that must be paid when you purchase a property above a certain value. You will have to factor this in your budget on top of your deposit when purchasing a property. Current stamp duty rates for owning one property are:

  • 0% tax on the first £125,000
  • 2% tax on the portion from £125,000 to £250,000
  • 5% tax on the portion from £250,001 to £925,000
  • 10% tax on the portion from £925,001 to £1.5 million
  • 12% tax on the portion above £1.5 million

If you are buying an additional residential property, you should be aware that the new higher rates of stamp duty land tax (SDLT) are now in effect where an extra 3% is added on top of the normal Stamp Duty charge

Our Promise to you

We will carefully assess your circumstances and advise on the best way to secure you your new mortgage whether it will be with your existing mortgage provider or simply a new one.

Unlike banks and building societies, we can access 1000’s of mortgage deals throughout the entire mortgage market, including exclusive products not available on the high street, ensuring you get the best available mortgage deal.

themortgagechoice is located in Surrey. We’ve helped lots of happy customers in Woking, Byfleet, Guildford & nationwide to secure the right mortgage for them. Increasingly, we’re also working with clients in other areas of the UK. So, wherever you are based in the UK,  be rest assured our mortgage specialists can help.

For a no obligation & free initial advice call us today or request a call back

Get in Touch, and let us start your search. Today.