Moving House Mortgage Advice

Moving home is a really exciting time. There are a lot of fun parts you get to enjoy – such as viewing houses, exploring local areas, choosing new furnishings – but these are sometimes overshadowed by the more stressful parts, like arranging a mortgage.

It’s a life changing decision so it’s important to get the right mortgage whether you’re downsizing or upsizing and moving into your dream home. Even if you’ve already experienced the moving and mortgage process when applying for a first-time buyer mortgage, the added stress of selling your existing home can make the process more complicated. Don’t worry though - we’re here to make it as easy as possible.

John Charcol is an independent mortgage broker with access to the whole of the market. We not only provide mortgage advice for moving home, we manage your entire property-buying journey so you can enjoy this experience - like you’re supposed to.

Keep reading for information on the mortgage options available to you and how our experts can help you, or see our Guide to Moving House for a detailed walkthrough of how it all works, tips on buying a new home and our moving house checklist.

Have a more specific question you need answered? Ask our mortgage experts.

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Compare the Best Moving House Mortgage Deals

See below if a new mortgage deal can save you money when making the move by comparing the latest moving house mortgage rates and fees.

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We've found 1,152 remortgage deals that match your search

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Scheme ID 69869
Initial rate ? 0.89% then 4.35% (variable)
Monthly repayments ? £ 1,116
Type/Duration ? Fixed  until 01/01/0001
Scheme fees ? £995
Cost comparison ? £27,773

Fees & Charges

Booking fees £0
Arrangement fees £0
Valuation fees £0
Other fees £0
Cashback £0

Flexibility

Max LTV 60%
Overpayments allowed? Yes
Early Repayment charges £170, plus (3% in years 1-2)

Other info

Exit fees £170
Basic legals £0

Representative example: A mortgage of £300,000 payable over 25 years on a repayment basis, initially on a fixed rate for 2 years at 0.89%, and then on a variable rate for 23 years at 4.35%. This would require 24 payments of £1,115.74 and 276 payments of £1,597.62. The total amount payable would be £468,886 made up of the loan amount plus interest (£167,891) and fees (£1,165 which includes exit fees of £170). The overall cost for comparison is 3.84% APRC representative.

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Scheme ID 69887
Initial rate ? 0.99% then 4.35% (variable)
Monthly repayments ? £ 1,129
Type/Duration ? Fixed  until 01/01/0001
Scheme fees ? £995
Cost comparison ? £28,097

Fees & Charges

Booking fees £0
Arrangement fees £0
Valuation fees £0
Other fees £0
Cashback £0

Flexibility

Max LTV 75%
Overpayments allowed? Yes
Early Repayment charges £170, plus (3% in years 1-2)

Other info

Exit fees £170
Basic legals £0

Representative example: A mortgage of £300,000 payable over 25 years on a repayment basis, initially on a fixed rate for 2 years at 0.99%, and then on a variable rate for 23 years at 4.35%. This would require 24 payments of £1,129.26 and 276 payments of £1,599.10. The total amount payable would be £469,619 made up of the loan amount plus interest (£168,624) and fees (£1,165 which includes exit fees of £170). The overall cost for comparison is 3.85% APRC representative.

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Scheme ID 69872
Initial rate ? 1.14% then 4.35% (variable)
Monthly repayments ? £ 1,150
Type/Duration ? Fixed  until 01/01/0001
Scheme fees ? £0
Cost comparison ? £27,594

Fees & Charges

Booking fees £0
Arrangement fees £0
Valuation fees £0
Other fees £0
Cashback £0

Flexibility

Max LTV 60%
Overpayments allowed? Yes
Early Repayment charges £170, plus (3% in years 1-2)

Other info

Exit fees £170
Basic legals £0

Representative example: A mortgage of £300,000 payable over 25 years on a repayment basis, initially on a fixed rate for 2 years at 1.14%, and then on a variable rate for 23 years at 4.35%. This would require 24 payments of £1,149.73 and 276 payments of £1,601.30. The total amount payable would be £469,722 made up of the loan amount plus interest (£169,722) and fees (£170 which includes exit fees of £170). The overall cost for comparison is 3.85% APRC representative.

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Scheme ID 50767
Initial rate ? 1.26% then 3.74% (variable)
Monthly repayments ? £ 1,166
Type/Duration ? Fixed  until 31/05/2024
Scheme fees ? £1,034
Cost comparison ? £29,025

Fees & Charges

Booking fees £0
Arrangement fees £0
Valuation fees £0
Other fees £0
Cashback £0

Flexibility

Max LTV 60%
Overpayments allowed? Yes
Early Repayment charges £80, plus (2% until 31-05-24) of balance repaid

Other info

Exit fees £80
Basic legals £0

Representative example: A mortgage of £300,000 payable over 25 years on a repayment basis, initially on a fixed rate for 2 years and 4 months at 1.26%, and then on a tracker rate for 22 years and 8 months at 3.74%. This would require 28 payments of £1,166.28 and 272 payments of £1,505.38. The total amount payable would be £443,233 made up of the loan amount plus interest (£142,199) and fees (£1,114 which includes exit fees of £80). The overall cost for comparison is 3.33% APRC representative.

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Scheme ID 50770
Initial rate ? 1.26% then 3.74% (variable)
Monthly repayments ? £ 1,166
Type/Duration ? Fixed  until 31/05/2024
Scheme fees ? £1,034
Cost comparison ? £29,025

Fees & Charges

Booking fees £0
Arrangement fees £0
Valuation fees £0
Other fees £0
Cashback £0

Flexibility

Max LTV 60%
Overpayments allowed? Yes
Early Repayment charges £80, plus (2% until 31-05-24) of balance repaid

Other info

Exit fees £80
Basic legals £0

Representative example: A mortgage of £300,000 payable over 25 years on a repayment basis, initially on a fixed rate for 2 years and 4 months at 1.26%, and then on a tracker rate for 22 years and 8 months at 3.74%. This would require 28 payments of £1,166.28 and 272 payments of £1,505.38. The total amount payable would be £443,233 made up of the loan amount plus interest (£142,199) and fees (£1,114 which includes exit fees of £80). The overall cost for comparison is 3.33% APRC representative.

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Scheme ID 7085
Initial rate ? 1.29% then 3.74% (variable)
Monthly repayments ? £ 1,170
Type/Duration ? Fixed  until 01/01/0001
Scheme fees ? £1,019
Cost comparison ? £29,109

Fees & Charges

Booking fees £0
Arrangement fees £0
Valuation fees £0
Other fees £0
Cashback £0

Flexibility

Max LTV 60%
Overpayments allowed? Yes
Early Repayment charges £65, plus (1.25% in year 1, 0.75% in year 2)

Other info

Exit fees £65
Basic legals £0

Representative example: A mortgage of £300,000 payable over 25 years on a repayment basis, initially on a fixed rate for 2 years at 1.29%, and then on a variable rate for 23 years at 3.74%. This would require 24 payments of £1,170.43 and 276 payments of £1,510.84. The total amount payable would be £446,166 made up of the loan amount plus interest (£145,147) and fees (£1,084 which includes exit fees of £65). The overall cost for comparison is 3.40% APRC representative.

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Scheme ID 15338
Initial rate ? 1.29% then 5.29% (variable)
Monthly repayments ? £ 1,171
Type/Duration ? Fixed  until 01/01/0001
Scheme fees ? £1,019
Cost comparison ? £29,111

Fees & Charges

Booking fees £0
Arrangement fees £0
Valuation fees £0
Other fees £0
Cashback £0

Flexibility

Max LTV 60%
Overpayments allowed? Yes
Early Repayment charges £120, plus (3% in year 1, 2% in year 2)

Other info

Exit fees £120
Basic legals £0

Representative example: A mortgage of £300,000 payable over 25 years on a repayment basis, initially on a fixed rate for 2 years at 1.29%, and then on a variable rate for 23 years at 5.29%. This would require 24 payments of £1,170.51 and 276 payments of £1,752.14. The total amount payable would be £512,802 made up of the loan amount plus interest (£211,783) and fees (£1,139 which includes exit fees of £120). The overall cost for comparison is 4.69% APRC representative.

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Scheme ID 8671
Initial rate ? 1.29% then 3.54% (variable)
Monthly repayments ? £ 1,170
Type/Duration ? Fixed  until 30/04/2024
Scheme fees ? £1,016
Cost comparison ? £29,106

Fees & Charges

Booking fees £0
Arrangement fees £0
Valuation fees £0
Other fees £0
Cashback £0

Flexibility

Max LTV 60%
Overpayments allowed? Yes
Early Repayment charges 2% until 30-04-23, 1% until 30-04-24 with a fee free allowance of 10%

Other info

Exit fees £0
Basic legals £0

Representative example: A mortgage of £300,000 payable over 25 years on a repayment basis, initially on a fixed rate for 2 years and 3 months at 1.29%, and then on a variable rate for 22 years and 9 months at 3.54%. This would require 27 payments of £1,170.43 and 273 payments of £1,477.74. The total amount payable would be £436,041 made up of the loan amount plus interest (£135,025) and fees (£1,016 which includes exit fees of £0). The overall cost for comparison is 3.18% APRC representative.

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Scheme ID 38027
Initial rate ? 1.29% then 5.29% (variable)
Monthly repayments ? £ 1,171
Type/Duration ? Fixed  until 01/01/0001
Scheme fees ? £20
Cost comparison ? £28,112

Fees & Charges

Booking fees £0
Arrangement fees £0
Valuation fees £0
Other fees £0
Cashback £0

Flexibility

Max LTV 75%
Overpayments allowed? Yes
Early Repayment charges £120, plus (3% in year 1, 2% in year 2)

Other info

Exit fees £120
Basic legals £0

Representative example: A mortgage of £300,000 payable over 25 years on a repayment basis, initially on a fixed rate for 2 years at 1.29%, and then on a variable rate for 23 years at 5.29%. This would require 24 payments of £1,170.51 and 276 payments of £1,752.14. The total amount payable would be £511,803 made up of the loan amount plus interest (£211,783) and fees (£140 which includes exit fees of £120). The overall cost for comparison is 4.66% APRC representative.

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Scheme ID 30922
Initial rate ? 1.3% then 4.24% (variable)
Monthly repayments ? £ 1,172
Type/Duration ? Fixed  until 29/02/2024
Scheme fees ? £1,524
Cost comparison ? £29,648

Fees & Charges

Booking fees £0
Arrangement fees £0
Valuation fees £0
Other fees £0
Cashback £0

Flexibility

Max LTV 80%
Overpayments allowed? Yes
Early Repayment charges £140, plus (2% until 28-02-23, 1% until 29-02-24)

Other info

Exit fees £140
Basic legals £0

Representative example: A mortgage of £300,000 payable over 25 years on a repayment basis, initially on a fixed rate for 2 years and 1 month at 1.3%, and then on a variable rate for 22 years and 11 months at 4.24%. This would require 25 payments of £1,171.82 and 275 payments of £1,585.15. The total amount payable would be £466,876 made up of the loan amount plus interest (£165,352) and fees (£1,664 which includes exit fees of £140). The overall cost for comparison is 3.81% APRC representative.

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Changing to a New Mortgage VS Porting Your Existing One

When you move from a home you already have a mortgage on to a new property, you typically either take out a new mortgage with a new lender or take your existing mortgage with you to your new home via “porting”.

OPTIONS FOR MOVING A MORTGAGE TO A NEW HOUSE

When you move a mortgage to a new house, you “port” it. Porting simply means you transfer your existing mortgage from your existing property to your new property.

Technically, your existing mortgage is repaid upon the sale of your existing property and a new version of the same product is taken out on the new property. This happens at completion.

You may want to move home with your existing mortgage if you have a particularly competitive rate that you want to keep, or to avoid any ERCs (early repayment charges). You’ll need to ask your broker whether your mortgage is portable.

Even if your mortgage is portable, you still may not be able to take it with you as you’ll have to reapply for the mortgage with the lender and may not qualify if your circumstances and/or the criteria have changed, or the property you’re looking to buy is deemed unsuitable security by your current lender.

Learn more about porting your mortgage when moving house in our moving house guide.

Switching to a New Mortgage When Moving House

It’s more common to switch mortgage products when you buy a new house, than move your existing mortgage to the new property. Sometimes, people switch providers because their lender won’t let them port their current mortgage, but usually people switch simply because there are better deals available.

When you switch to a new product, your existing mortgage is repaid upon the sale of your existing property and a brand new product is taken out on the new one. This also happens at completion. Learn about managing the property chain in our guide. 

See what’s currently on the market with our free mortgage comparison calculator.

How Can John Charcol Help You Move?

We Take Care Of Everything

With over 45 years of service, we've seen it all. We can save you money, time and make buying your property easy.

We're Highly Recommended

We have over 1,800 5* reviews on reviews.co.uk, so you can feel confident that your mortgage is in the right hands.

We Give Personal, Expert Advice

We work around your schedule to help you arrange a mortgage that suits your circumstances, no matter how complex.

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MORTGAGE?

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Our Moving House Mortgage Process

1. First Conversation with Adviser

When you phone us, you can either arrange a phone appointment with your adviser, a video call or a face-to-face meeting – whatever suits you. Your adviser will ask you some questions then go away and find you the best deal for your circumstances and future needs. They’ll organise a follow up during which they’ll present you with what they’ve found.

2. Decision in Principle

Once you’re happy with your adviser’s recommendation, they’ll go about securing your DIP (Decision in Principle) - which is basically a promise from the lender that they’ll loan you money on the condition that the information you’ve provided is correct and subject to a valuation of the property.

3. Offer on Property

After you’ve secured a DIP (Decision in Principle), you’ll be in a great position to make an offer on a property. Sellers like DIPs. They show you can afford the purchase. What’s more, the fact that you’ve already started preparing for the transaction highlights to them that you’re serious in your intention to buy.

4. Pre-Application and Submission

Following the acceptance of your offer, we’ll send you some information which explains all the documents we need to submit to the lender. You’ll be assigned a client relationship manager who’ll check and submit certified copies of your documents; they’ll liaise with both you and the lender. Your adviser will then submit the fully packaged mortgage application.

5. Lender Underwriting and Valuation

The lender will underwrite your application; this basically means they’ll verify that the information you’ve provided is correct and review all your documents for themselves. They’ll also instruct a valuation for their purposes on the property you want to buy to make sure there are no significant problems with it.

6. Mortgage Offer

If the lender is happy with everything they’ve found, they’ll send you a mortgage offer. They’ll also send us a copy.

7. Conveyancing

After you’ve accepted your mortgage offer, you’ll go through the legal part of the process, known as conveyancing. This is where the solicitors/conveyancers draw up contracts and organise the actual, legal purchase of the property. You’ll also need to arrange buildings insurance at this stage, making sure it’s in place from exchange.

8. Exchange and Completion

Once everything is in place, your conveyancer/solicitor will exchange contracts with the seller’s conveyancer/solicitor. If your deposit is coming from savings or a gift, then it’s at this point that you put the deposit down and are legally bound to the property. You’ll lose your deposit if you pull out after exchange. If your deposit is coming from the sale of your current property, then it’s transferred at completion as part of the whole purchase. The purchase completes when the money is transferred on an agreed-upon date. This is when you get the keys to your new home.

JC Legal

Not only do we arrange your mortgage, we can find you a conveyancer from our select panel. Our recommendation will be based on your situation and timeframe to ensure your move goes according to plan. 

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Concierge 

With our Concierge Service, we can help you move into your new home, set up utilities, register for Council Tax and more. There’s no arrangement fee and you could save up to 8 hours of hassle.

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Home Insurance

You’ll need buildings insurance for your new property. We’re partners with Legal and General, so we can find you suitable buildings and contents insurance.

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Protection

Our inhouse team can also arrange protection insurance for you. What’s more, we don’t charge an arrangement fee.

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What Our Customers Think

What our customers say

John Charcol

John Charcol0330 057 5173£

Cutlers Exchange, 123 HoundsditchLondonEC3A 7BU

Excellent

90%

1996 Total reviews

4.85 Average rating

  • 5

    Emily and Nick have been incredible. Both delivered an outstanding service. Great communication and everything was done in a timely manner. Look forward to working with you both again in the near future.

    Posted
  • 5

    Randeep Sodhi provided an excellent service; he was consultative, helpful and matched us with a financial product which met our needs. He kept us informed with regular updates, thereby minimising any concerns, which we are very grateful for. Very professional - 5 stars - would highly recommend.

    Posted
  • 5

    Emily Gould and Tiara Hardy are the ‘Dream Team’ when it comes to second charge mortgage finance. I had the fortune of being referred to them, and they sorted two separate cases on different properties within one year. Tiara ensured the cases were fully understood and researched, with the best products sourced; Emily then kicks in with ensuring that the case runs smoothly to completion. Neither case was straightforward, but all obstacles were overcome. It was clear both times that Tiara and Emily both have good relationships with the relevant lenders, which always made the difference. Emails returned on time, phone calls made when necessary; job done. I would recommend John Charcol, and particularly Emily Gould and Tiara Hardy, without hesitation. Thanks guys, both times round. You’re both a credit to John Charcol.

    Posted
  • 5

    Tiara Hardy and Emily Gould have been fantastic every step of the way in arranging specialist finance for my latest renovation project. Having been a mortgage broker myself for many years I know good service when I see it. In particular, Emily supported the whole case through to completion even working the case on her days off which is above and beyond so a massive thanks needs to go to her for that. Best wishes for Christmas to all the team and looking forward to more future projects together.

    Posted
  • 5

    Andrew Ireland at John Charcol was fantastic. Our circumstances meant that getting a mortgage wasn't straightforward but Andrew listened to our needs and advised us on the best way forward. There was a significant issue with the lender and their valuer going around in circles but Andrew's persistence meant that the issue was resolved and we were able to move forward. If we had being doing this ourselves the purchase would almost certainly have fallen through. Very, very highly recommended.

    Posted
  • 5

    Top professionals I have to say, trustable and reliable. My case was dealt by Scott Barron and Louise Cheatle (was Toni Walker before Louise Cheatle) My entire year is almost dealing with three small purchases, with one purchase failed within ten days. It’s all nightmare that i wake up in the morning I know I have to deal with estate agents, lenders and solicitors like a full time job, especially solicitors because most of them create issues on purpose My case with them I have a crazy lender, got my mortgage application into four months and a half. The crazy people will never create one problem, but a series problems, then all consequences came to me one by one. Scott has showed enough patience and professionalism to bring everything back on track once and once again. I was actually thinking if my case was not with him, should fail at early stage. I should say BIG THANK YOU

    Posted
  • 5

    We dealt with Andrew Ireland at John Charcol. He was truly outstanding. Our case was complex, involving refinancing on two properties. Andrew gave really clear guidance on our options from the start and then kept on our case with the lenders and the legal teams throughout. We tried several brokers while seeking advice on our refinancing needs. John Charcol and Andrew Ireland were the best by a mile. None of the other brokers gave such clear guidance at the beginning and, in their rush to say they could help, the others failed to factor in key information which was crucial to the lenders who would lend in our circumstances.

    Posted
  • 5

    My husband and I couldn't recommend John Charcol enough to our family and friends! The service we have received has been outstanding. We wanted to say a massive thankyou to Scott, Fiona and Chantelle in assisting us with our house move. They have gone above and beyond with helping us over the past 13 months, and guided us through all the obstacles that were thrown our way during the pandemic and chains collapsing. They took all the stress away from us and made the whole process run as smoothly as possible.

    Posted
  • 5

    Gets the job done, good channels of communication! Completed my case swiftly and effectively.

    Posted
  • 5

    My wife and I had a wonderful experience working with Randeep Sodhi of John Charcol for our investment property mortgage loan. From beginning to end he was very informative, extremely thorough and attentive to our financial needs, thus making sure that we were getting the best deal possible. He is one of the most knowledgeable, honest professional mortgage advisor we have ever worked with. He kept us advised every step of the mortgage process, explaining the reason for every obscure document requested from us. His manner was always friendly and he was always available to our every question we had. We highly recommend Randeep Sodhi and his company to our friends. We will certainly use him in future. He is remarkable and a five star advisor.

    Posted

What Are the Mortgage Costs When Moving House?

We’ve listed some of the costs you might face when taking out a mortgage loan and moving house, below.

Stamp Duty

You pay Stamp Duty when you buy a property or piece of land over a certain value in the UK. Find out how much you’ll pay with our Stamp Duty calculator.

Mortgage Valuation

When a lender’s considering your application, they’ll arrange a mortgage valuation on the property you want to buy. It’s a way for the lender to make sure the property is worth the minimum amount you want to borrow and is suitable security for a mortgage.

Conveyancing/Solicitors’ Fees

After you accept your mortgage offer, your solicitor arranges all the paperwork for your new property. Talk to your solicitor to find out how much they charge. Alternatively, we can help you find a conveyancer with John Charcol Legal.

Home Insurance

All lenders require that you take out buildings insurance on your new property when you move house. You may also want to consider contents insurance.

Broker Fee

It’s normal for brokers to charge a fee for arranging your mortgage. This should always be discussed with you during your first call or meeting with your adviser.

Removal Fees

Unless you’re moving all your belongings and furniture yourself, you’ll likely want a removal company. We can help you organise removals with our free Concierge Service.

Product Fee

If you’re porting your mortgage and borrowing a larger amount, your lender may charge a product fee.

ERCs (Early Repayment Charges)

You’ll only pay an ERC if you pay back your current mortgage before the introductory period ends in order to switch to a new product.

Lender’s Arrangement Fee

The lender’s arrangement fee covers the costs of organising your mortgage. It can be a flat fee or a percentage. Your lender will tell you how much you’ll pay in arrangement fees.

Booking Fees

A booking fee is a one-off application fee you pay to book and reserve the rate for the mortgage while your request is processed.

Moving House Mortgage FAQs

Do You Need a Deposit When Moving Home?

You need a deposit when you move home whether you’re taking out a new mortgage on the new property or porting your existing mortgage. You put down a cash deposit at the exchange of contracts. If your deposit is coming from the sale of your current property, it will be transferred at completion.

Do You Have to Pay a Deposit When Porting a Mortgage?

You still pay a deposit when you port a mortgage as there are no 100% mortgage products on the market anymore. Therefore, you need a deposit to add to the mortgage to make up the full purchase price of the property; often the deposit will come from the proceeds of the sale of your current property, but you can also use savings or an inheritance.

Can I Move House with a Fixed Mortgage?

If you have a great fixed mortgage rate you don’t want to lose, you can ask your lender whether your mortgage is portable. If it’s not, you may be able to switch to a new – and possibly better – fixed rate mortgage product with a different lender.

How Do I Downsize My Mortgage?

You can sometimes downsize your mortgage when you move home if you take out a mortgage for a property that’s worth less than your current property. It’s important to note that any ERCs (early repayment charges) on your existing mortgage will still be charged on the amount of your existing mortgage that you actually repay whilst downsizing.

How Will Moving Home Affect My Insurance and Protection Requirements?

If you move home you’ll have new home insurance requirements. We can help you find the most suitable deal for your new home and can also help you organise life insurance and other types of protection.

Can I Get a Mortgage on a Home if I’m Over 60?

There are later life lending options. See what our expert has to say about mortgages for people over 50 and 60.

Should I Get a 5, 10 or 20 Year Mortgage?

There are a few different factors that determine which mortgage term you should choose.

These include:

  • Why you’re moving
  • How long you plan to live in your new property
  • What you can afford in monthly repayments
  • The amount you want to borrow
  • When you are looking to retire
  • Any expected future financial changes (expenditures or incomes)

Your adviser will guide you through the options and find you the mortgage that best suits your current and future needs.

How Long Does It Take to Switch to a New Mortgage Deal When Moving Home?

It typically takes 4 - 8 weeks for the switch to take place but can take longer if there are complications.

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