Moving home mortgages

Planning on moving house? Cleerly is here to help. Try our online mortgage calculator tool to find out how much you could borrow - it only takes five minutes!

Moving home mortgage experts

We know you may have done this before - perhaps more than once - but we also know that moving home is often a stressful, time-consuming process. As a specialist mortgage broker with over 15 years' experience, Cleerly is here to offer a helping hand.

Moving home. It's never fun is it? People often think the hardest part is the move itself, but securing the right mortgage deal for you can be equally laborious and challenging.

Now, add to this the fact that most lenders don’t really cater for specialist circumstances, such as applicants with complex or multiple income streams, and the whole process becomes even harder. 

Let us take the stress out of obtaining the right mortgage so you can focus on getting everything boxed up, ready for the move. Just give us a call on 02394 212 912  or request a call back. 

Your go-to moving home mortgage broker

Getting the right mortgage is just as important as getting the right property.

At Cleerly, our aim is simple. We will provide you with simple clear advice; working out how much you can borrow, how much will it cost and what type of mortgage would be most suitable for you, whether you work in a specialist profession, are self-employed or have a complex income stream. 

Your dedicated client service manager will take care of all the paperwork for you, so you don’t need to worry about a thing. We access the whole of the market which means we can source the best mortgage from all lenders. 

Need a helping hand?

Cleerly can't move your sofa or box up all your belongings....but we can take the pain out of applying for a mortgage

Whether you’re looking to get the ball rolling on a mortgage application or you’re just after some friendly advice, don’t hesitate to give us a call on 02394 212912  or request a call-back.

Trusted lenders we work with

The pathway to your new home

Cleerly partners exclusively with specialist lenders so we can find the right mortgage for you.

To port or not to port?

Can you move your mortgage to a new house?

If you're moving home, you will usually have two options: port your existing mortgage or switch to a new one.

Porting your existing mortgage 

Porting refers to the process of transferring your current mortgage from your present home to a new property. In essence, the existing mortgage is settled with the sale of your current home and an identical mortgage product is initiated for the new property upon completion. 

Homeowners might opt to port to retain a competitive interest rate or dodge early repayment charges (ERCs). 

It's worth noting that even if a mortgage is deemed portable, reapplication is necessary. Changes in personal circumstances, lender criteria or property suitability might impact approval. 

Switching to a new mortgage 

More often than not, homeowners will opt for a new mortgage product when moving house. 

One reason may be because their current lender won’t let them port their current mortgage, but in most circumstances people switch simply because they've found a better deal. 

If you choose this route, your current mortgage is settled upon selling your existing home and a new mortgage is established for the new property at completion.  

Moving home mortgages FAQs

If you have a complex income or multiple income streams, you may face challenges when applying for a moving home mortgage due to being considered 'high risk', regardless of how much you earn. The application process can also be more laborious, requiring extra documentation to prove affordability. The good news is that Cleerly partners exclusively with lenders who are more amenable to complex income scenarios, ensuring you get the best deal available, whatever your circumstances.

If your current home is worth more than the new one, it might be possible to secure a mortgage covering the new property's full cost. Make sure your chosen mortgage doesn't include early repayment penalties, so you can sell and repay the mortgage without having to pay hefty fees. 

If you're ineligible for a standard residential mortgage, consider a bridging loan, either against your current home or both properties. Bear in mind that these loans, due to their short-term nature, can be pricier. If the new property costs more, you might need a bridging loan for the deposit on your current home and a standard mortgage on the new one. Ensure this mortgage permits penalty-free adjustments post-sale of your initial property. 

A lender will normally want to see: 

  • Your ID and proof of address 
  • Proof of income 
  • Three months' bank statements 
  • Proof of expenses 
  • Proof of deposit 

Some additional documentation may be required, which your mortgage consultant will be able to discuss with you during the application process. 

If you have equity in your current property, you can usually use this as a deposit on your new home when you sell your current property. If your property has increased in value or if you've paid off a substantial chunk of the mortgage, it's likely you will have built up equity in your property, i.e. the money that would be yours if you sold the house and settled the mortgage.

Using a mortgage broker such as Cleerly when moving home offers several benefits. Whether you have a complex income stream, are self-employed or work in a specialist profession, our consultants will provide expert advice tailored to your circumstances. 

With over 15 years in the business, Cleerly has access to a wide range of mortgage products and can secure exclusive deals not available directly to the public. 

Contact us today on 02394 212 912to find out how we can help you! 

We move with the times

Click on the latest articles for our insights and expertise

See all blogs and guides

Want to learn more about moving home mortgage options tailored to your needs?