Moving home can usually seem like a never ending list of asking questions, chasing lenders, solicitors, estate agents, speaking with your best friends nieces boyfriend pet dog. (Not literally but you know what we mean).

At North to South we take all the hassle of that away for you, your advisor and executive assistant will clearly and concisely explain next steps and provide updates to ensure you are always kept well informed and ahead of the curve when your phone rings asking you for an update.

There are generally two different ways of securing lending when moving home.

The first being Porting – Porting explained in a nutshell is a case of picking up your current loan and placing that onto a new property you are wanting to buy, the new property normally would need to be of a similar value or more expensive to do this as the lender views their risk – If the you look for a more expensive property in most instance subject to credit and affordability your existing lender can borrow the difference you require by having a separate or additional part to your mortgage. This can sometimes prove costly versus looking for a new lender. (Porting does involve more than a little more than a nutshell explanation, but your advisor will be able to discuss this with you at the earliest opportunity)

The second - Having a new lender. If there is a genuine cost saving to you and it will ultimately benefit you by moving to a new lender and exiting your fixed rate deal early, then, this is an option your advisor will discuss with you to give you a clear path on how best to secure a mortgage for your new home. If you are on a ‘Standard Variable Rate – Your old fixed rate deal has ended’ or on a ‘Tracker Rate’ then the costs will be dramatically reduced as there will typically be no early repayment charges, however, your existing lender may change an administration fee to leave them so you are free to look at other lenders.

There are going to be some fees and costings to factor into your move, these include; Estate Agency fees (If selling your home using one), Legal Fees on the sale of your current home and purchase of your new home, stamp duty and moving costs make up the bulk of these fees.

Your home may be repossessed if you do not keep up repayments on your mortgage