Mortgage Advice for Home Movers

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.

Compare the Best Mortgage Deals for Moving House

You can compare mortgages for moving home with our best buy tables below:

Product Rate
Loan Type

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We suggest you use our ‘True Cost Comparison’ filter. This allows you to accurately understand how different mortgages compare by ordering results based on the total cost over a ‘deal period’, such as a two, or five-year fixed rate mortgage.

Some low interest rate deals might seem attractive, but if fees are higher they might not be the best value for you. When comparing mortgage deals our true cost comparison factors the lender fees over the length of the deal as well as your monthly mortgage payments.

For example, if your repayments are £2,000 per month on a two-year fixed-rate mortgage, plus £500 in lender fees, the total cost of the deal is £48,500.

We've found 807 remortgage deals that match your search

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Scheme ID 15380
Initial rate 1.09% then 3.59% (variable) ?
Monthly repayments £ 1,143 ?
Type/Duration Variable ?
Scheme fees £1,519 ?
Cost comparison £28,448 ?

Fees & Charges

Booking fees £0
Arrangement fees £0
Valuation fees £0
Other fees £0
Cashback £500

Flexibility

Max LTV 60%
Overpayments allowed? Yes
Early Repayment charges £65, plus (2% in year 1, 1% 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 1.09%, and then on a variable rate for 23 years at 3.59%. This would require 24 payments of £1,142.88 and 276 payments of £1,485.85. The total amount payable would be £438,608 made up of the loan amount plus interest (£137,089) and fees (£1,584 which includes exit fees of £65). The overall cost for comparison is 3.25% APRC representative.

0344 346 3672 or Enquire now

Scheme ID 15388
Initial rate 1.09% then 3.59% (variable) ?
Monthly repayments £ 1,143 ?
Type/Duration Variable ?
Scheme fees £1,519 ?
Cost comparison £28,948 ?

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 (2% in year 1, 1% 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 1.09%, and then on a variable rate for 23 years at 3.59%. This would require 24 payments of £1,142.88 and 276 payments of £1,485.85. The total amount payable would be £439,108 made up of the loan amount plus interest (£137,589) and fees (£1,584 which includes exit fees of £65). The overall cost for comparison is 3.25% APRC representative.

0344 346 3672 or Enquire now

Scheme ID 8318
Initial rate 1.13% then 3.59% (variable) ?
Monthly repayments £ 1,148 ?
Type/Duration Variable ?
Scheme fees £1,499 ?
Cost comparison £29,060 ?

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 30-09-21, 1% until 30-09-22

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 2 months at 1.13%, and then on a variable rate for 22 years and 10 months at 3.59%. This would require 26 payments of £1,148.36 and 274 payments of £1,483.89. The total amount payable would be £437,942 made up of the loan amount plus interest (£136,443) and fees (£1,499 which includes exit fees of £0). The overall cost for comparison is 3.22% APRC representative.

0344 346 3672 or Enquire now

Scheme ID 8319
Initial rate 1.13% then 3.59% (variable) ?
Monthly repayments £ 1,148 ?
Type/Duration Variable ?
Scheme fees £1,499 ?
Cost comparison £29,060 ?

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 30-09-21, 1% until 30-09-22

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 2 months at 1.13%, and then on a variable rate for 22 years and 10 months at 3.59%. This would require 26 payments of £1,148.36 and 274 payments of £1,483.89. The total amount payable would be £437,942 made up of the loan amount plus interest (£136,443) and fees (£1,499 which includes exit fees of £0). The overall cost for comparison is 3.22% APRC representative.

0344 346 3672 or Enquire now

Scheme ID 19397
Initial rate 1.14% then 5.29% (variable) ?
Monthly repayments £ 1,150 ?
Type/Duration Variable ?
Scheme fees £2,034 ?
Cost comparison £29,628 ?

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 £199, plus (3% in year 1, 2% until 31-10-22) with a fee free allowance of 10%

Other info

Exit fees £199
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 1.14%, then moving onto variable rate for 3 years at 4.04%, and then on a variable rate for 19 years and 9 months at 5.29%. This would require 27 payments of £1,149.73, followed by 36 payments of £1,549.39, and 237 payments of £1,720.75. The total amount payable would be £496,872 made up of the loan amount plus interest (£194,838) and fees (£2,233 which includes exit fees of £199). The overall cost for comparison is 4.33% APRC representative.

0344 346 3672 or Enquire now

Scheme ID 19392
Initial rate 1.15% then 5.29% (variable) ?
Monthly repayments £ 1,151 ?
Type/Duration Variable ?
Scheme fees £1,034 ?
Cost comparison £28,661 ?

Fees & Charges

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

Flexibility

Max LTV 65%
Overpayments allowed? Yes
Early Repayment charges £199, plus (3% in year 1, 2% until 31-10-22) with a fee free allowance of 10%

Other info

Exit fees £199
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 1.15%, then moving onto variable rate for 3 years at 4.04%, and then on a variable rate for 19 years and 9 months at 5.29%. This would require 27 payments of £1,151.10, followed by 36 payments of £1,549.55, and 237 payments of £1,720.93. The total amount payable would be £495,957 made up of the loan amount plus interest (£194,923) and fees (£1,233 which includes exit fees of £199). The overall cost for comparison is 4.30% APRC representative.

0344 346 3672 or Enquire now

Scheme ID 19724
Initial rate 1.16% then 4.09% (variable) ?
Monthly repayments £ 1,152 ?
Type/Duration Variable ?
Scheme fees £1,525 ?
Cost comparison £29,184 ?

Fees & Charges

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

Flexibility

Max LTV 65%
Overpayments allowed? Yes
Early Repayment charges £50, plus 1.5% until 01-11-22

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 1.16%, then moving onto variable rate for 4 years and 9 months at 4.34%, and then on a variable rate for 18 years at 4.09%. This would require 27 payments of £1,152.48, followed by 57 payments of £1,595.01, and 216 payments of £1,563.87. The total amount payable would be £461,353 made up of the loan amount plus interest (£159,828) and fees (£1,525 which includes exit fees of £0). The overall cost for comparison is 3.71% APRC representative.

0344 346 3672 or Enquire now

Scheme ID 19725
Initial rate 1.16% then 4.09% (variable) ?
Monthly repayments £ 1,152 ?
Type/Duration Variable ?
Scheme fees £1,525 ?
Cost comparison £29,184 ?

Fees & Charges

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

Flexibility

Max LTV 65%
Overpayments allowed? Yes
Early Repayment charges £50, plus 1.5% until 01-11-22

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 1.16%, then moving onto variable rate for 4 years and 9 months at 4.34%, and then on a variable rate for 18 years at 4.09%. This would require 27 payments of £1,152.48, followed by 57 payments of £1,595.01, and 216 payments of £1,563.87. The total amount payable would be £461,353 made up of the loan amount plus interest (£159,828) and fees (£1,525 which includes exit fees of £0). The overall cost for comparison is 3.71% APRC representative.

0344 346 3672 or Enquire now

Scheme ID 26020
Initial rate 1.17% then 4.34% (variable) ?
Monthly repayments £ 1,154 ?
Type/Duration Variable ?
Scheme fees £999 ?
Cost comparison £28,441 ?

Fees & Charges

Booking fees £0
Arrangement fees £0
Valuation fees £0
Other fees £0
Cashback £250

Flexibility

Max LTV 60%
Overpayments allowed? Yes
Early Repayment charges £250, plus (2% until 30-11-21, 1% until 30-11-22)

Other info

Exit fees £50
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 1.17%, and then on a variable rate for 22 years and 8 months at 4.34%. This would require 28 payments of £1,153.85 and 272 payments of £1,593.51. The total amount payable would be £466,542 made up of the loan amount plus interest (£165,543) and fees (£1,049 which includes exit fees of £50). The overall cost for comparison is 3.79% APRC representative.

0344 346 3672 or Enquire now

Scheme ID 20739
Initial rate 1.17% then 3.59% (variable) ?
Monthly repayments £ 1,154 ?
Type/Duration Variable ?
Scheme fees £1,025 ?
Cost comparison £28,717 ?

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 30-09-21, 1% until 30-09-22

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 2 months at 1.17%, and then on a variable rate for 22 years and 10 months at 3.59%. This would require 26 payments of £1,153.85 and 274 payments of £1,484.47. The total amount payable would be £437,770 made up of the loan amount plus interest (£136,745) and fees (£1,025 which includes exit fees of £0). The overall cost for comparison is 3.22% APRC representative.

0344 346 3672 or Enquire now

View more mortgages

Porting a Mortgage vs Switching a Mortgage

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”.

Porting Your Existing Mortgage

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.

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 JOHN CHARCOL CAN HELP YOU MOVE HOME

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 1,500 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?

Talk to our experts today
03304 332 927
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Our Moving Home Mortgage Process

1. First Conversation with Adviser

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.

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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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.

Learn More

Protection

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

Learn More

What Our Customers Think

What our customers say

John Charcol

John Charcol 0330 057 5173 £

Cutlers Exchange, 123 Houndsditch London EC3A 7BU

Excellent

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1806 Total reviews

4.85 Average rating

  • 5

    Steve Prior always does a thorough and efficient job of finding the best deals and then executing them with the minimum of fuss!! Delighted with the Buy2Let renewal which has saved me loads per month on the previous deal.

    Posted
  • 5

    I couldn't have asked for any more given the circumstances. I started my remortgage process just before lockdown. Scott found another suitable product quickly when the one I appled for got pulled, the office also helped by posting solicitors docs to me when I couldn't print as working from home. Overall very easy to deal with, highly recommended.

    Posted
  • 5

    Good options offered aligned to requirements; courteous and proactive service. Regular updates and preparedness to take responsibility to make things happen. Completion achieved seamlessly and efficiently. Overall excellent quality of service - recommended.

    Posted
  • 5

    Delighted with the support provided by Charlotte and Maisie for John Charcol. They identified a really competitive product which fulfilled our requirements and managed the process to a successful conclusion. I would strongly recommend John Charcol based on our experience.

    Posted
  • 5

    Excellent customer service, seamless experience. Would recommend to anyone looking for an efficient service.

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  • 5

    We've used John Charcol for several years as we know we're going to receive great advice delivered in a timely fashion. Sener always goes above and beyond to ensure we get the best deal possible. Really couldn't fault the service. Thank you.

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  • 5

    Mark Nicholls is absolutely top drawer. Have worked with him on a couple of mortgage/re-mortgages and have been always very pleased with his service, professionalism and client focus.

    Posted
  • 5

    Excellent advice throughout and very reliable. It was a long journey to getting our flat but I always felt very satisfied with the advice given and the speed of response. I always felt Bruce went the extra mile and given it was a 2 year process and rates changed, I knew Bruce was constantly getting the best rate for us. There is nothing better than being able to trust your adviser especially with lots of other variables in the process and I can’t thank him and John Charcol enough for the excellent advice and treatment throughout the process.

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    Your service was excellent quick and helpful I really appreciated your service. Thank you

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    The customer service is above and beyond the were so helpful and made everything so easy

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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.

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