If you wish to move home, you will need to have a 5-10% deposit for the new property which ideally you should get from the sale of your current property however if this isn’t possible you will need to make up any difference with savings. Many mortgages are transferable to your new property.
There will most likely be fees to transfer to a new property.
Moving home is the ideal opportunity to look around lenders for a better mortgage deal. Like remortgaging you will need to check terms and conditions and ascertain if there are any exit penalties with your current provider.
For more information on Moving Home, please contact us.