COVID-19 Important Notice: We're open as normal. Monday - Friday 8:30am - 9:00pm and weekends 9:00am - 5:00pm.
Finances affected by Coronavirus? Read our guide for information
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.
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.
You can compare mortgages for moving home with our best buy tables below:
When you move from a home you already have a mortgage on to a new property, you typically either switch to a new mortgage with a new lender or take your existing mortgage with you to your new home via “porting”.
When you “port” a mortgage, you transfer your existing mortgage from your existing property to your new one.
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 lender or 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 guide.
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.
With over 45 years of service, we've seen it all. We can save you money, time and make buying your property easy.
We have over 1,500 5* reviews on reviews.co.uk, so you can feel confident that your mortgage is in the right hands.
We work around your schedule to help you arrange a mortgage that suits your circumstances, no matter how complex.
When you phone us, you can either arrange a phone appointment with your adviser 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.
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.
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.
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.
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.
If the lender is happy with everything they’ve found, they’ll send you a mortgage offer. They’ll also send us a copy.
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.
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.
Not only do we arrange your mortgage, but with JC Legal we can find you a conveyancer from our select panel of conveyancers and solicitors. Our recommendation will be based on your situation and timeframe to ensure your move goes according to plan.
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.
Cutlers Exchange, 123 Houndsditch London EC3A 7BU
1766 Total reviews
4.85 Average rating
I honestly cannot thank Daniel Bowles enough!!! From the bottom of my heart I cannot recommend him enough- the phrase 'going above and beyond' springs to mind. After I initially had a very poor credit rating, financial issues and basically been told by every other broker that I was unable to get a mortgage any time soon, Dan actually took the time in helping me and offering me phenomenal advice/support at the drop of a hat. Without Dan I would never be in the position where I am today (a first-time buyer) and getting on the ladder. After seeing how horrible the property market can be at time (aimed at Estate Agents) Dan & John Charcol were a breath of fresh air in my first property completion as you could actually tell Dan cared about customer service and finding the right product for YOU.
We have been working with John Charcol for the past few years and we have been always very satisfied with great service. Thanks to Sener for his very high level of professionalism and excellent communication skills. We are very happy to recommend John Charcol to anyone requiring mortgage broker services even in complicated circumstances.
Excellent service from the first phone call to the final completion. Thank you.
I first started dealing with John Charcol around 9 months before our BTL remortgage actually completed. We had to try two or three different routes to get the mortgage we needed (due to a unique rental situation), so got to build a great relationship with the team, brilliantly led by Charlotte A. Charlotte was a great, prompt communicator, and each time we hit a problem, she always had an alternative avenue for us to go down. Thankfully, this persistence paid off, and we got the remortgage, raising the capital we needed for a renovation project. Thanks to Charlotte for all the support. I am very happy to recommend.
Great service and advice. Many thanks.
Very happy with Norbert arranging a bespoke mortgage for me. He kept me informed throughout. Reasonable price for a unique product. Highly recommended.
This was my first remortgage with John Charcol and I will never go anywhere else. Great advice and support throughout the whole process from Cristian and Thomas. I would definitely recommend to everyone! Cristian was brilliant and helped chasing up with solicitors.
This is my second re-morgaging transaction with John Charcol, the service is incredible. Penny and Toni were very efficient, professional and very helpful all the way. Look forward to work with John Charcol in the future.
Excellent as always from Jack and Cristian at John Charcol. Superb advice and support throughout. A very professional and efficient service, great communication and valuable guidance on products and options, ensuring it is easy to make an informed decision. Really grateful. 10/10
I was leasing with both Hayley & Tiara for my mortgage application. I was more than amazed with the help that was provided which went far and beyond. Really appreciate both for their support and proactiveness on this matter through out the process. Thank you both for the smooth and prompt mortgage application process.
We’ve listed some of the costs you might face when taking out a mortgage loan and moving house, below.
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.
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.
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.
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.
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.
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.
If you’re porting your mortgage and borrowing a larger amount, your lender may charge a product fee.
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.
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.
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.
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.
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.
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.
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.
There are later life lending options. See what our expert has to say about mortgages for people over 50 and 60.
There are a few different factors that determine which mortgage term you should choose.
Your adviser will guide you through the options and find you the mortgage that best suits your current and future needs.