Home Mover Mortgage Broker
A home mover mortgage is a term to describe a new mortgage to help you buy a new home. They’re mostly used by people moving up the property ladder, but they could be used by people downsizing in some circumstances as well.
In reality, a home mover mortgage is no different from other standard residential mortgages, but ensuring you get the right mortgage for a new property remains important.
Who can use a home mover mortgage?
Home mover mortgages should be used by anyone who currently owns a mortgaged home but wants to move to a new property. They’re not suitable for first-time buyers. Applicants will still need to meet affordability checks on the new mortgage and meet minimum deposit requirements.
Some mortgages might be able to move from one property to the next, provided the new property meets lender requirements. This is known as “porting”, which could be more beneficial if you’re downsizing. However, a home mover mortgage might still offer a better deal, so it’s always worth investigating.
Home mover mortgage considerations
There are many important considerations before you use a home mover mortgage. One of the most important considerations is if your existing mortgage includes any early repayment fees.
If you need to pay an early repayment charge to repay your existing mortgage earlier, any savings that you make using a home mover mortgage could be wiped out. This needs to be calculated before proceeding.
The pros of using an adviser for a home mover mortgage
A home mover mortgage might be the right option for you, but this can only be determined by analysing your circumstances and the terms of your existing mortgage. There may be some better alternatives, such as extending the borrowing on your existing mortgage or porting the mortgage.
A financial adviser will ensure that you make the right call. They’ll provide their knowledge and expertise to help you make an informed decision. They can then also help you find the most suitable home mover mortgage and make an application. With a financial adviser at your side, you won’t choose the wrong option for your circumstances and the process will be smoother.
Get your home mover mortgage advice
Want to know what’s right for you? Speak with a Taylor James financial adviser today and learn more about your home mover mortgage options. We’re dedicated to providing a client-first and personalised service.
Call us today for a no obligation chat about planning your financial future.
Call: 0203 859 3320
Email: contact@taylorjamesfs.co.uk
Please note:
- Your home may be repossessed if you do not keep up repayments on your mortgage.
FAQs
Mortgage advice is provided by qualified financial advisers to help the client find and secure the most suitable loan to buy residential or investment property. The mortgage adviser will take into account the client’s individual circumstances to discuss mortgage options. The adviser will then search the mortgage market to identify real-time suitable options and make an application. Thus, mortgage advice usually includes mortgage brokering services to provide a holistic and convenient service from start to finish.
There are several benefits of using a mortgage adviser. A mortgage adviser can provide clarity to clients which should make the process of getting a mortgage more efficient and less stressful in some cases. They can also help people with unique situations find options when the client may have believed it impossible. Moreover, the mortgage adviser could ensure the client secures the most beneficial type of mortgage for their situation and preferences, perhaps avoiding costly mistakes. Some mortgage advisers can secure better rates and deals due to their connections.
Mortgage advisers can help people seeking a mortgage with bad credit in different ways. Our advisers can provide advice to clients on how to improve their credit rating and therefore improve their chances of getting accepted for a better mortgage deal. We can also search for lenders that are more willing to provide credit to applicants with a below-average credit history. Every situation is different and there are never any guarantees but we have helped people with bad credit to get a mortgage. Speak to our team to learn more.
Taylor James welcomes all clients to use our mortgage advice services, including those that may have unique situations. Whether you have multiple income streams or other complex issues regarding pay and employment, it’s unlikely that we won’t have seen your situation before. Our advisers can assist in finding the right lender swiftly, including support regarding providing evidence and other possible application process hurdles. Don’t put off seeking a mortgage due to a non-standard situation and speak to our team today.
FAQs
Mortgage advice is provided by qualified financial advisers to help the client find and secure the most suitable loan to buy residential or investment property. The mortgage adviser will take into account the client’s individual circumstances to discuss mortgage options. The adviser will then search the mortgage market to identify real-time suitable options and make an application. Thus, mortgage advice usually includes mortgage brokering services to provide a holistic and convenient service from start to finish.
There are several benefits of using a mortgage adviser. A mortgage adviser can provide clarity to clients which should make the process of getting a mortgage more efficient and less stressful in some cases. They can also help people with unique situations find options when the client may have believed it impossible. Moreover, the mortgage adviser could ensure the client secures the most beneficial type of mortgage for their situation and preferences, perhaps avoiding costly mistakes. Some mortgage advisers can secure better rates and deals due to their connections.
Mortgage advisers can help people seeking a mortgage with bad credit in different ways. Our advisers can provide advice to clients on how to improve their credit rating and therefore improve their chances of getting accepted for a better mortgage deal. We can also search for lenders that are more willing to provide credit to applicants with a below-average credit history. Every situation is different and there are never any guarantees but we have helped people with bad credit to get a mortgage. Speak to our team to learn more.
Taylor James welcomes all clients to use our mortgage advice services, including those that may have unique situations. Whether you have multiple income streams or other complex issues regarding pay and employment, it’s unlikely that we won’t have seen your situation before. Our advisers can assist in finding the right lender swiftly, including support regarding providing evidence and other possible application process hurdles. Don’t put off seeking a mortgage due to a non-standard situation and speak to our team today.