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Moving home involves more than arranging a mortgage against a different property. Your existing mortgage, available equity, new purchase price and the timing of the sale all need to work together.
Jayhawk Capital helps you understand what you may be able to borrow, whether your current mortgage deal can be moved and how the available options compare.
We consider the full transaction before explaining which routes appear realistic, what the move may cost and what needs to happen next.
Mortgage advice for homeowners moving to a larger property, downsizing or relocating
Before comparing mortgage products, it is important to understand how the different parts of the move fit together.
The value of your existing property and the amount left on your mortgage will influence the equity that may be available towards the next purchase. Your income, commitments and future plans will then affect the amount a lender may be prepared to offer.
We will take the time to understand:
This allows us to assess the move as one connected transaction and provide an early view of what appears achievable.
Moving home does not always mean that you have to leave your current mortgage deal.
The main routes may include porting your existing mortgage, arranging a new deal with your current lender or applying for a mortgage with a different lender.
Porting means applying to keep your current mortgage product when you move to the new property.
This can be worth considering where your existing rate and terms remain attractive or where repaying the mortgage would result in an early repayment charge.
Porting is not automatic. Your lender will reassess your income, expenditure, credit position and the new property before agreeing to the application.
Where the next property is more expensive, you may need to borrow more than the balance of your current mortgage.
Your existing lender may allow you to port the current deal and arrange the additional borrowing separately. The extra amount may have a different interest rate, product period and set of terms.
The two parts need to be considered together so that you understand the overall cost and how the different product periods may affect future remortgaging.
Porting is not necessarily the most suitable option simply because it is available.
A different lender may offer a borrowing amount, product or structure that is better suited to the new purchase. Any potential benefit should be considered alongside early repayment charges, product fees and the overall mortgage cost.
Your existing lender may be able to offer a new mortgage or additional borrowing without retaining the current product.
This can sometimes provide a more straightforward route, but it should still be considered against the other options available and the requirements of the new purchase.
The equity in your current property will often form part or all of the deposit for your next home.
An initial estimate can be found by comparing the expected sale price with the amount left on the mortgage. However, the money available after the sale may also be affected by:
The expected sale value should also be treated realistically. A higher asking price does not necessarily mean that the same amount will be available on completion.
We consider the likely equity alongside your income, deposit and proposed borrowing to help establish a practical budget for the move.
Many home moves rely on the sale and purchase completing at around the same time.
Where several transactions are connected through a property chain, delays or changes elsewhere can affect your own completion. The position can become more involved if you find the right property before your current home is sold.
Bridging finance can sometimes provide a short-term route where a purchase needs to complete before the sale of another property. It will not be appropriate in every case and requires a clear repayment strategy, usually linked to the eventual property sale or refinance.
The costs and risks of proceeding before a sale need to be weighed against the value of securing the new property. We will explain the routes that appear worth considering rather than assuming that the fastest option is automatically the right one.
Depending on the circumstances, the options could include:
A lender will reassess your circumstances when you move, even where you are applying to port an existing mortgage.
The lender will consider your current income rather than relying on the position when your existing mortgage was arranged.
A more detailed assessment may be needed where you are self-employed, work as a contractor or receive bonuses, commission, overtime or income from several sources.
Loans, credit cards, car finance, childcare and other regular commitments can affect the amount considered affordable.
Any changes since your previous mortgage application will need to be reflected in the new assessment.
The lender will need to understand how much equity is expected from the sale and whether any additional deposit is being provided from savings or another source.
Where the purchase is taking place before the sale completes, the deposit and overall funding position will need to be considered differently.
The outstanding balance, current rate, remaining product period and any early repayment charges can all affect the options available.
The lender must be satisfied that the new property provides acceptable security for the mortgage.
Its value, condition, construction, location and tenure may all form part of the assessment.
The new mortgage should be considered against the monthly payment you can maintain and your longer-term plans.
A move may also be an opportunity to review the mortgage term, repayment method and flexibility of the arrangement.
A home move can require a more detailed approach where your financial position has changed or does not fit a standard employed structure.
This may include situations where:
Different lenders can assess salary, dividends, profit and retained funds in different ways.
The most suitable route may depend on how you trade, how long the business has been operating and the information available from your accounts.
Some lenders may assess the income using accounts or payslips, while others may consider your contract, day rate, experience and working history.
Bonuses, commission, overtime, investment income or income from multiple roles may not be treated consistently between lenders.
A larger mortgage may require a more detailed assessment of your income, assets, deposit and wider financial position.
The way the borrowing is structured can be as important as the headline rate.
Keeping the current property and letting it out changes the nature of the transaction.
The existing mortgage, anticipated rent, available equity, deposit for the new home and affordability of the new residential mortgage will all need to be considered.
A missed payment, increased borrowing or another credit issue since your previous application may affect which lenders and products are available.
Jayhawk Capital’s experience across straightforward mortgages and more complex borrowing allows us to assess the full position and explain which routes appear realistic.
We begin with your current property, existing mortgage, expected equity, proposed purchase and the amount you may need to borrow.
You do not need to have accepted an offer or found your next home before speaking to us.
We assess the initial figures and explain the potential borrowing range, deposit position and mortgage routes worth considering.
This includes reviewing whether porting, staying with your current lender or applying elsewhere may support the move.
Where appropriate, we can help arrange a mortgage in principle so that you can approach the property search and offer stage with a clearer understanding of your position.
Once your offer has been accepted and you decide to proceed, we review the available options and explain our recommendation, including the costs and principal conditions.
We then prepare and submit the mortgage application with the required supporting information.
We remain involved while the lender completes its valuation, underwriting and final assessment.
You will be kept informed about where the application stands, what is being awaited and whether anything further is required from you.
Your solicitor will manage the legal work for the sale and purchase.
We remain available to assist with relevant lender requirements and explain the mortgage position as the connected transactions move towards completion.
Jayhawk Capital was built around direct advice, accurate preparation and constant client communication. For a home move, that means understanding the full transaction from the beginning and keeping you clear on where things stand throughout.
The lowest available rate is only one part of the mortgage decision.
The product fee, mortgage term, early repayment charges, monthly cost, overpayment options and future flexibility can all affect whether an arrangement is suitable.
You may be moving to a long-term family home, relocating for work, reducing the size of your property or choosing a home that supports a different stage of life.
Jayhawk Capital considers the new mortgage alongside those wider plans. The aim is to arrange borrowing that supports the immediate move without overlooking how the structure may affect your future options.
The amount available will depend on your income, expenditure, existing commitments, available equity, deposit, mortgage term and lender affordability assessment.
The equity from your current home can affect the deposit available, but it does not replace the need for the lender to assess whether the new mortgage is affordable.
Potentially. If your mortgage is portable, you can apply to keep the current deal when moving to the new property.
You must still meet the lender’s current affordability and lending criteria, and the new property must be acceptable.
No. Porting may allow you to retain an attractive interest rate or reduce an early repayment charge, but it should be compared with arranging a new mortgage.
The overall cost, amount available, fees, flexibility and suitability for the new property should all be considered.
Potentially. Your lender may allow you to port the existing product and arrange additional borrowing for the difference.
The additional amount may be placed on a separate product with a different rate and end date.
An early repayment charge may apply if your current mortgage is repaid during a fixed, discounted or otherwise restricted product period.
Porting may allow the charge to be avoided or refunded in certain circumstances, depending on the lender’s terms and the timing of the transactions.
We will review the current mortgage before explaining how any charge may affect the available options.
Potentially, but the finance and risks need to be considered carefully.
The available routes may depend on your income, existing mortgage, available equity, other assets and how the additional borrowing will be repaid once the current property is sold.
Bridging finance may be one option where there is a clear and realistic repayment strategy.
Potentially. You may need consent from the current lender or a new buy-to-let mortgage on the existing property.
The expected rental income, existing equity and affordability of the new residential mortgage will all need to be assessed.
You should also obtain separate tax and legal advice before deciding to retain the property.
The equity released from the sale of your existing property will commonly form the deposit for the next purchase.
You may also choose or need to contribute additional savings, depending on the property price, outstanding mortgage, sale costs and amount you want to borrow.
You can speak to an adviser before putting your current home on the market or beginning your property search.
An early review can help you understand your equity, likely borrowing position, current mortgage terms and whether anything could affect the move.
The lender will need to assess your current income and determine whether it supports the proposed mortgage.
The way income is assessed varies between lenders, particularly for company directors, sole traders and contractors. Understanding your working arrangement and financial history helps identify the lenders that may take a more suitable view.
Costs may include estate agency fees, legal work, searches, surveys, mortgage fees, advice fees, removal costs and property tax on the new purchase.
An early repayment charge may also apply to your current mortgage.
Your solicitor or tax adviser should confirm the legal and tax costs associated with the sale and purchase.
Great customer experience! John was brilliant start to finish and really supported us throughout the whole process. Bridging loans were all new to us so John really took the time to make sure the loan was right for us, along with explaining everything in detail. We had a short timescale and John again made sure this was pushed along at each point in the process
Adviser: John Symons
You may already have found your next property, or you may want to understand what you could realistically afford before putting your current home on the market.
Tell us about your current property, existing mortgage, expected purchase price and preferred timeframe.
We will review the initial details and contact you to discuss what may be possible, how your current mortgage could be treated and which routes appear worth exploring.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Jayhawk Capital may charge a tailored broker fee of up to 1% of the loan, subject to a minimum fee of £500.
For residential mortgages, the fee is generally payable when the mortgage offer is issued. The amount and payment stage will be confirmed before you decide to proceed.
Your home mover mortgage may also connect to other areas of property finance. Explore related services offered by Jayhawk Capital.
