Moving Home With a Mortgage: Your Options

When you’re moving home with a mortgage, you usually have four main options: take your current deal with you (called “porting”), port it and borrow more, move to a new lender, or time your move for when your deal ends. Which one works for you depends on your early repayment charges, how much you need to borrow and whether you pass the lender’s checks.

This guide explains each option in plain English. It covers porting, borrowing more, early repayment charges, stamp duty when you move and the order things usually happen in, with simple examples along the way.

What happens to your mortgage when you move?

A mortgage is secured on a particular property. When you sell that home, the mortgage on it is paid off from the sale money, usually by your solicitor or conveyancer on the day of completion. You then need a mortgage on your new home.

The question is how you get that new mortgage. You might be able to carry your existing deal across to the new property, or you might take out a brand-new mortgage, either with your current lender or a different one.

If you’re part-way through a fixed or discounted deal, the choice matters. Paying off that deal early can mean an early repayment charge (ERC), a fee for leaving before the deal ends. Porting is one way you may be able to avoid it.

Your options when moving home with a mortgage

Here’s a quick overview of the main mortgage options when moving house. Each one is explained in more detail below.

Option 1: Port your mortgage

Porting means taking your current mortgage deal with you to your new home. MoneyHelper says that most mortgages are now “portable”, meaning you can take them with you when you move.

Porting doesn’t happen automatically, though. MoneyHelper explains that porting is “still treated like applying for a new mortgage”, so you’ll need to pass the lender’s affordability checks. The lender will look again at your income, your spending and your credit history, much as it did when you first applied.

If you don’t pass the checks, MoneyHelper notes that your only option might be to approach other lenders, which would mean paying your existing lender’s early repayment charge. That’s why it can help to know your options before you agree a sale.

What if you’re moving somewhere cheaper?

If you’re downsizing and need to borrow less, you might port part of your mortgage and use some of the sale money to pay off the rest. Repaying part of a mortgage early can also trigger an early repayment charge on the amount you repay, so it’s worth checking your mortgage terms or asking your lender.

Option 2: Port and borrow more

Many people move to a bigger or more expensive home and need a larger mortgage. In that case, you might port your existing deal and borrow the extra on top.

MoneyHelper explains that when you port, “only the amount you owe stays on the current fixed or discounted deal”. Any extra borrowing needs a new deal, which may have different terms. In practice, that can mean your mortgage is split into two parts, each with its own rate and possibly its own end date.

£Mortgage repayment calculatorSee what a different loan amount or rate could mean for your paymentsTry it →

If the two parts end on different dates, you may have to choose new deals at different times. It’s worth asking your lender how the parts line up, and whether any early repayment charges would apply to each one.

Option 3: Move to a new lender

You don’t have to stay with your current lender. You could pay off your existing mortgage when you sell and take a new mortgage with a different lender for your new home. This gives you the whole market to compare, rather than just one lender’s deals.

The main thing to check is whether you’re still within your deal period. MoneyHelper says there might be charges if you leave a fixed-rate deal early, and you might have to pay a fee if you leave a discounted deal before the discount period ends. With a tracker, you can often switch early without a fee, but it’s always worth checking with your lender.

%Early repayment charge calculatorCompare the cost of staying on your deal with paying the charge and switchingTry it →

A lower rate elsewhere doesn’t always outweigh the cost of leaving early. When comparing, it can help to add up the early repayment charge, any new deal fees, and the legal and valuation costs, then compare that total with what you’d pay by porting.

Option 4: Time your move around your deal

If your fixed or discounted deal is ending soon, or you’re already on your lender’s standard variable rate (SVR), you may be free to move without an early repayment charge. You can usually leave an SVR at any time.

Timing a move exactly is hard, though, because property chains can be slow and sale dates can slip. If you’re thinking of moving in the next few years, MoneyHelper suggests considering deals with low or no early repayment charges when you next choose a mortgage. It also warns to “think carefully” before locking into a new deal with large early repayment charges if you’re likely to move.

Stamp duty and other costs of moving

Moving home comes with costs on both sides: selling your old home and buying the new one. These can include legal fees, surveys, estate agent fees, removals, mortgage fees and, in England and Northern Ireland, Stamp Duty Land Tax (SDLT).

If you’re moving, first-time buyer relief won’t apply, so you’ll usually pay the standard rates. GOV.UK sets these out as follows:

What if you buy before you sell?

If you still own your old home at the end of the day you complete on your new one, you’ll own two homes for SDLT purposes. GOV.UK says buyers who own another residential property usually pay 5% on top of the standard rates. In the example above, that would add £17,500 (5% of £350,000), making £25,000 in total.

If the new home replaces your main home, you may be able to get the extra back. GOV.UK says that if you sell your previous main home within 3 years of buying your new home, you can apply for a refund. The refund must be claimed within 12 months of the later of the sale, or the filing date of the SDLT return for your new home.

You must send an SDLT return to HMRC and pay the tax within 14 days of completion. Your solicitor or conveyancer usually does this for you.

£Moving home costs calculatorAdd up the costs of selling, buying and moving in one placeTry it →

For a full breakdown of each fee, see our guide to the true cost of buying a house, or work out your SDLT with our stamp duty calculator.

Moving house with a mortgage: the usual order of things

Every move is different, but this is the order things often happen in when you already have a mortgage.

1. Check your current mortgage Find your deal end date, your early repayment charges and whether your mortgage is portable.
2. Work out your budget How much your home might sell for, what you still owe and what you could afford to borrow.
3. Add up the costs Include selling costs, buying costs, stamp duty and removals.
4. Look at your mortgage options Whether to port, borrow more or move lender. A mortgage in principle can show what a lender may lend you.
5. Sell and find your new home Accept an offer on your home and agree a price on your new one.
6. Apply for your mortgage Either a porting application with your lender or a new application elsewhere.
7. Exchange and complete Your old mortgage is paid off from the sale, and your new mortgage starts on completion day.

For the buying side of the move in more detail, see our guide to the home buying process step by step.

Questions to ask your lender before you move

A short call or message to your lender early on can save surprises later. Questions that may help include:

• Is my mortgage portable, and what would a porting application involve?
• What early repayment charge would apply if I repaid my mortgage on a given date?
• If I borrow more, how would the extra borrowing be set up, and when would each part end?
• Are there any time limits if I sell and buy on different days?
• Would any other fees apply when I repay or move my mortgage?

It’s also worth checking your own finances before you apply. A lender will look at your income, regular spending and credit file again, even if you’re porting. Our guide to how much deposit you need explains how the equity from your sale can work as your deposit, and how that affects the deals available.

Summary

Moving home with a mortgage usually means choosing between porting your deal, porting and borrowing more, moving to a new lender, or timing the move around your deal’s end date. Early repayment charges, the lender’s affordability checks and stamp duty are the main things to factor in. Checking your mortgage paperwork early can make the decision clearer, depending on your circumstances.

Sources

• MoneyHelper – Understanding mortgages and interest rates
• MoneyHelper – Remortgaging to get the best deal
• MoneyHelper – Can I change my mortgage provider?
• GOV.UK – Stamp Duty Land Tax: residential property rates
• GOV.UK – Higher rates of Stamp Duty Land Tax
• GOV.UK – Stamp Duty Land Tax: overview
• Financial Conduct Authority – How to check a firm or individual is authorised

Last updated: 1 November 2026. This guide is general educational information only and is not regulated financial advice.