Home Mover Mortgages: Helping You Finance Your Next Home

 

Found your next home? Whether you are moving to the countryside, relocating to a town or upgrading to a larger property, arranging the right mortgage is an important part of making your move happen.

Selling one property while buying another can be one of life’s most stressful experiences. Even if you have already been through the first-time buyer process, moving home introduces new considerations, from managing your existing mortgage to working out how much you can borrow for your next property.

At Quealy & Co Financial Services Ltd., we can guide you through the mortgage process from your initial plans through to completion.

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How We Can Help Home Movers

We can help if you are:

• • Looking to move home and arrange a new mortgage
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  • Unsure whether you can port your existing mortgage to your next property
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  • Planning to borrow more when buying your new home
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  • Using equity from your current property as a deposit
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  • Considering whether to remain with your current lender or switch to a new one

We will review your circumstances and explore the available options, including staying with your existing lender or moving to another lender that may offer a more suitable rate, a larger loan or greater flexibility for your situation.

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Should You Port Your Mortgage or Switch Lenders?

Many homeowners are unsure whether they should transfer, or “port”, their existing mortgage to a new property or apply for a completely new mortgage.

Porting may allow you to retain your current mortgage product, but it is not always automatically the most suitable option. You will still need to meet your lender’s affordability and eligibility requirements, and additional borrowing may be arranged on a different interest rate.

We will review your current mortgage, including any early repayment charges, and compare it with suitable alternatives from across the market. This can help you make an informed decision about whether remaining with your current lender or switching could better support your plans.

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How Much Could You Borrow for Your Next Home?

Your mortgage requirements may have changed since you bought your current property. You may now have a different income, increased equity or new financial commitments. Property prices may also mean you need to borrow more than you did previously.

We will assess your income, regular outgoings, available deposit and the equity in your current home to help you understand how much you may be able to borrow.

Different lenders use different affordability calculations and lending criteria, so professional mortgage advice can be particularly valuable when your circumstances do not fit neatly into a standard application.

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Making the Moving Process More Manageable

Buying and selling property at the same time can feel complicated. Your mortgage application may also need to progress alongside estate agents, solicitors, surveyors and the other buyers and sellers in your property chain.

We will guide you through each stage, from reviewing your existing mortgage and arranging an agreement in principle to submitting your application and securing a formal mortgage offer.

We will also keep you updated throughout the process, helping you understand what is happening and what may be required next.

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Your Home Mover Mortgage in Three Steps

1. Conversation

We begin with a conversation about your plans, your current mortgage and the type of property you are hoping to buy.

This allows us to understand your goals, any concerns you have and the financial position surrounding your move.

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2. Research and Recommendation

Using the information gathered during your initial conversation, we will research suitable mortgage options and provide a bespoke recommendation based on your circumstances.

Where required, we can also arrange an agreement in principle. This can give you an indication of how much a lender may be prepared to offer and may help demonstrate to estate agents that you are in a position to proceed.

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3. Mortgage Application

Once you are ready to proceed, we will submit the full mortgage application to the chosen lender.

We will provide the required documents, liaise with the lender and its underwriters, and keep you informed until the mortgage offer has been issued. We will continue to communicate with you through to completion.

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Planning Your Next Move?

Whether you are moving within Kent, relocating to the area or purchasing further afield, Quealy & Co Financial Services Ltd. can help you explore your mortgage options.

For bespoke advice tailored to your circumstances, call 01795 505761 or email mortgages@quealy.co.uk to arrange a conversation with one of our mortgage advisers.

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Your home may be repossessed if you do not keep up repayments on your mortgage.

Quealy & Co Financial Services Ltd. is authorised and regulated by the Financial Conduct Authority No. 919693. Most Buy to Let mortgages are not regulated by the Financial Conduct Authority and will not benefit from the same regulatory protection as residential mortgages.