Posted on 25 January 2011 by Jo upchurch
If I sell my property can I port my existing Alliance and Leicester mortgage? I would be adding more money in to the deposit so I could buy something of higher value but keeping mortgage the same amount.
Unless you are paying the Alliance & Leicester Standard Variable Rate (SVR) you should be able to port your existing product. You will need to meet current lending criteria and the new mortgage must be for house purchase/home ownership and not for a remortgage of an existing property.
You need to phone Alliance & Leicester directly on 0800 051 0426 to arrange this transaction.
If you are on their SVR then you will need to look at new mortgage deal. In this instance I recommend that you speak to an independent mortgage adviser about your requirements.
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