Moving home
Whether you’re relocating, or upgrading to a bigger property or perhaps downsizing, you will want to be sure you have the right mortgage in place.
At Sterling Private Finance we can use our extensive experience and expert knowledge to find the most suitable mortgage option for your new home.
Moving to a new house is the ideal time to review the mortgage options available to you. As a whole-of-market mortgage broker we can review the most suitable deals before we make recommendations that will meet your needs and ensure you get the best deal for you.
You may have a fixed rate mortgage on your existing property, so it may be best to 'port' this mortgage to the new property in order to avoid any early repayment charges. You will still need to reapply and go through a similar process with your lender to confirm that this will be affordable, especially if you want to increase the amount you borrow.
Your financial circumstances may have changed because you have changed jobs or became self-employed recently, or started a family. Therefore, it could be a little trickier to obtain the very best deal for you, as lenders all look at affordability slightly differently.
If a new mortgage with a new lender provides a more competitive deal you might need to pay early repayment charges and other fees, as well as set up fees for your new mortgage. For fixed rate mortgages the early repayment charge is usually between 1-5% of the outstanding balance. Some variable (tracker or discounted) mortgages also have early repayment charges.