Last updated: May 2026
A home mover mortgage is the mortgage you arrange when selling your current property and buying a new one. You already own a home — which means you have equity, an existing mortgage deal, and a set of decisions that first-time buyers do not face. Whether to port your current mortgage or take a new deal, how to handle the timing gap between sale and purchase, how to use your equity as a deposit, and what lenders assess differently for home movers — this guide covers the main mortgage considerations.
According to reallymoving data, 70.3% of movers buying and selling in Q1 2026 were upsizing — the highest proportion since May 2021. Bank Rate stands at 3.75% as at May 2026, but mortgage pricing varies by lender, loan-to-value, product type and borrower profile.
This guide is written from a broker’s perspective, drawing on the detail that lenders actually assess when a home mover applies — not just what the headline figures say.
At a Glance
| What home movers need to know |
| You will usually consider whether to port your existing mortgage to the new property, take a new product with your current lender, or arrange a new mortgage with another lender. The right choice depends on your current rate, any early repayment charge, and how much you need to borrow. |
| Your equity from the sale of your current home becomes your deposit on the new one. Lenders assess the net equity after any outstanding mortgage balance and selling costs. |
| Lenders assess affordability on the new mortgage in full — not just the top-up. If you are porting and borrowing more, the additional borrowing is assessed separately and may attract a different rate. |
| Early repayment charges can apply if you leave your current deal before it ends. These must be calculated against any saving from switching to a better rate. |
| Timing matters. If sale and purchase do not complete simultaneously, bridging finance or a chain break facility may be needed. A broker can help structure the transaction. |
| Many home movers can access a wide range of residential mortgage options, subject to affordability, credit profile, deposit and property type. Income, credit history, outstanding debts, and the new property all factor into the lender’s decision. |
What Is a Home Mover Mortgage?
A home mover mortgage is simply the mortgage product used when you already own a property and are buying another one to live in. It is not a distinct product category in the same way that buy-to-let or bridging finance are — it is the standard residential mortgage process, applied to the specific circumstances of someone who is simultaneously selling and buying.
What makes home mover applications different from first-time buyer applications:
- You have an existing mortgage that needs to be either redeemed or ported
- Your deposit comes partly or entirely from the equity released on your sale
- The timing of your sale and purchase creates a dependency that first-time buyers do not have
- Early repayment charges may apply if you exit your current deal early
- If you are upsizing significantly, the affordability assessment covers the full new loan, not just the increase
The mortgage product you ultimately take — a two-year fixed, a five-year fix, a tracker — is the same type available to any residential borrower. The complexity for home movers is in the transaction structure, not the product itself.
Porting Your Mortgage vs Taking a New Deal
This is the first and most important decision a home mover faces. Porting means transferring your existing mortgage deal — including its interest rate — to the new property. Taking a new deal means redeeming the old mortgage (potentially triggering an early repayment charge) and starting fresh with a new lender or a new product with your current lender.
What Is Porting?
Porting allows you to take your current interest rate with you to the new property. This can be valuable if your existing rate is lower than what is currently available in the market. Not all mortgages are portable — check your mortgage terms or ask your broker to confirm.
Key points about porting:
- Your lender still re-assesses your affordability as if it were a new application — porting does not bypass underwriting
- If you are buying a more expensive property and need to borrow more, the additional borrowing is assessed separately and will likely attract the current market rate, not your existing rate
- If you are downsizing and need to borrow less, some lenders allow partial redemption without an early repayment charge — confirm this with your lender before proceeding
- Porting is subject to the lender approving the new property — they will value it and apply their lending criteria
When Does a New Deal Make Sense?
Taking a new deal makes sense when your existing rate is no longer competitive, when your current mortgage is near the end of its fixed or tracker period, when you want to switch to a different lender with better criteria for your circumstances, or when the early repayment charge is small enough that the saving from a better rate outweighs it.
The calculation is straightforward in principle:
| Factor | Detail |
| Early repayment charge | The penalty for leaving your current deal early — often 1-5% of the outstanding balance, reducing as you approach the end of the deal period |
| Rate saving | The monthly saving from switching to a lower rate, multiplied by the number of months remaining on the new deal |
| Product fees | Arrangement fees on the new product — can be added to the loan but increase the total borrowing |
| Break-even point | The point at which the rate saving exceeds the ERC cost — if the deal ends before break-even, porting or waiting may be more cost-effective |
A broker can run this calculation across multiple lenders and products before you commit to anything. The answer is not always obvious from the headline rate alone.
Using Your Equity as a Deposit
Your equity — the difference between your property’s current value and your outstanding mortgage balance — becomes your deposit on the new property, after selling costs are deducted. Understanding how lenders view this is important for planning your move.
Calculating Your Usable Equity
| Stage | Illustrative example |
| Current property value | £400,000 |
| Outstanding mortgage balance | £180,000 |
| Gross equity | £220,000 |
| Estate agent fees (approximately 1-2%) | £6,000 |
| Solicitor fees (selling side) | £1,500 |
| Net equity available as deposit | approximately £212,500 |
| New property purchase price | £550,000 |
| Net equity as percentage of purchase price | 38.6% — may support access to lower LTV product tiers, subject to lender criteria |
| Additional borrowing required | £337,500 |
All figures are illustrative. Actual costs vary.
The LTV on your new purchase is calculated against the purchase price of the new property, not the value of your old one. A large equity position on a lower-value property translates into a meaningful deposit on a higher-value one — which often unlocks better rate tiers.
What Lenders Look At
Lenders do not simply take your stated equity figure at face value. They will:
- Commission their own valuation of the new property — the purchase price and the lender’s valuation may differ, and the lower figure determines the LTV
- Assess affordability on the full new mortgage, not just the top-up above your current balance
- Factor in selling costs, stamp duty on the new purchase, and any other committed expenditure that will reduce the available deposit
- Review the dependency between your sale and purchase — if your deposit is entirely dependent on the sale completing, lenders may want evidence of how far along that chain is
How Lenders Assess Affordability for Home Movers
The affordability assessment for a home mover follows the same core framework as any residential mortgage — income versus outgoings, stress-tested at a higher notional rate — but there are a few nuances specific to moving home.
Full Loan Assessment
If you are porting and borrowing more, the ported portion retains its existing rate and the additional borrowing is assessed at the current market rate. Both portions are included in the affordability calculation. Some borrowers assume the lender only assesses the new borrowing — this is not the case. The lender assesses the total mortgage payment including the ported element.
Simultaneous Transactions
When sale and purchase are happening simultaneously, lenders are comfortable that the deposit will materialise on completion. When there is a timing gap — for example, if you are buying before selling — the position is more complex. The lender needs to understand how the deposit will be funded in the short term, and whether you can service both the existing mortgage and the new one if the timings do not align perfectly.
Income and Employment
A change in employment or income between your existing mortgage and your new application can affect how lenders view the case. If you have recently changed jobs, moved from employed to self-employed, or have a change in bonus or commission structure, discuss this with a broker before applying — some lenders are more flexible than others on recent employment changes.
Outstanding Commitments
Any existing debt — credit cards, car finance, personal loans — is factored into the affordability assessment and reduces the available borrowing. Home movers often have more financial commitments than first-time buyers. Clearing lower-balance debts before application can sometimes improve the borrowing figure available, but this should be modelled carefully against the cash position needed for completion.
Early Repayment Charges: What They Are and How to Handle Them
An early repayment charge is a fee your lender applies when you repay your mortgage before the end of the agreed deal period. For home movers, this arises when you redeem your existing mortgage to fund a purchase — whether on a new property or by switching lender.
ERCs are typically expressed as a percentage of the outstanding balance and often reduce over the deal period:
| Year of fixed term | Typical ERC (illustrative) |
| Year 1 | 5% of outstanding balance |
| Year 2 | 4% of outstanding balance |
| Year 3 | 3% of outstanding balance |
| Year 4 | 2% of outstanding balance |
| Year 5 | 1% of outstanding balance |
ERC structures vary significantly by lender and product. Always check your mortgage offer or annual statement.
On a £200,000 outstanding balance, a 3% ERC is £6,000. That is a real cost that needs to be weighed against the saving from a better rate or the benefit of moving. In some cases — particularly when rates have fallen significantly from when the existing fix was taken out — the saving more than covers the ERC. In others, porting or waiting until the deal expires is the more cost-effective route.
If your current deal ends within the next few months, some lenders may allow a new rate to be reserved before the existing deal expires. The window varies by lender. A broker can confirm what is available and whether the timing can be aligned with your planned moving date.
Timing Your Move: Sale, Purchase, and the Chain
The most stressful part of moving home for most people is not the mortgage — it is the timing. Sale and purchase need to align closely enough that you are not funding two properties simultaneously, but the property market rarely moves on a perfect schedule.
Simultaneous Completion
The ideal scenario is simultaneous completion — your sale and purchase complete on the same day, with the proceeds from your sale funding the deposit on your purchase. This is how most straightforward moves work. The risk is that any delay in the chain above or below you pushes your completion date, which can cascade.
When Sale and Purchase Do Not Align
When the timings do not align, you have a few options:
- Bridging finance — a short-term secured loan that funds the purchase before your sale completes, repaid when the sale proceeds arrive. Useful when you want to avoid losing a purchase due to chain timing. Rates are higher than residential mortgage rates and the facility should only be used for a defined short period.
- In some cases, there may be lender or bridging options designed to manage short-term timing gaps, subject to criteria, cost and exit strategy.
- Renting temporarily — selling, renting, then buying when the right property is found. Removes the chain dependency entirely but adds cost and disruption.
- Agreeing a delayed completion — if your buyer and seller are both willing, agreeing a completion date further out can allow chains to align without the need for bridging.
A broker with experience in chain-break situations can help compare the available options, costs and risks for your specific timeline and the value of properties involved.
Stamp Duty for Home Movers
Home movers pay standard residential Stamp Duty Land Tax rates on their purchase, provided the new property is their main residence and they have sold or are selling their previous home. The additional 5% surcharge that applies to second homes and buy-to-let purchases does not apply to a straightforward main residence move.
Standard SDLT rates for residential purchases (as at May 2026):
| Purchase price | SDLT rate on that portion |
| Up to £125,000 | 0% |
| £125,001 to £250,000 | 2% |
| £250,001 to £925,000 | 5% |
| £925,001 to £1,500,000 | 10% |
| Above £1,500,000 | 12% |
Important: If you complete on a new property before your existing home has sold, the additional 5% surcharge may apply at completion because you temporarily own two properties. You may be able to reclaim it if your previous main residence is sold within the permitted HMRC timeframe, currently generally 36 months. Your solicitor should confirm the position before exchange, as this is a significant cash flow consideration on larger purchases. Use the stamp duty calculator at fitchandfitch.co.uk/stamp-duty for worked figures on your specific purchase price.
What Lenders Look at Specifically for Home Movers
This is the section most guides skip. Home mover applications surface specific questions in underwriting that first-time buyer applications do not. Understanding these in advance reduces the risk of delays or surprises.
Dependency on the Sale
Lenders want to know how far along your sale is. An agreed sale with solicitors instructed on both sides is very different from a property that is yet to go on the market. If your deposit is entirely dependent on a sale that has not yet found a buyer, some lenders will want reassurance that you have alternative funding available if the timing extends. This is not a reason to avoid applying — it is a reason to have the conversation with a broker before choosing your lender.
The Gap Between Properties
If you are downsizing significantly — reducing your loan from £400,000 to £150,000, for example — some lenders will want to understand the purpose of releasing that equity. This is not always asked, but it can arise in underwriting. Having a clear, consistent answer prepared avoids unnecessary back and forth.
Property Type of the New Home
The new property’s construction type, tenure (freehold or leasehold), and condition affect which lenders will lend and at what LTV. A non-standard construction property, a flat above commercial premises, a property with a short lease, or one with structural issues can narrow the lender pool significantly. Knowing this before you agree a purchase price gives you time to identify the right lender rather than discovering a problem post-survey.
Your Current Lender’s Position
If you are porting, your current lender is making a decision about a new property and, in effect, re-underwriting your application. Even long-standing customers with a clean payment history are assessed against current affordability criteria — the fact that you have held your mortgage for ten years without a missed payment helps with credit scoring but does not bypass the income and affordability checks.
Worked Example: Upsizing from a Starter Home
Here is how the numbers work for a typical upsizing move. All figures are illustrative only.
| Detail | Figure |
| Current property value | £320,000 |
| Outstanding mortgage balance | £145,000 |
| Gross equity | £175,000 |
| Estimated selling costs (agent + legal) | £7,500 |
| Net deposit available | approximately £167,500 |
| New property purchase price | £480,000 |
| Deposit as % of new purchase (LTV) | 34.9% deposit — 65.1% LTV |
| New mortgage required | £312,500 |
| Stamp duty (main residence, not second home) | approximately £14,000 — use calculator for exact figure |
| ERC on current deal (2 years remaining at 3%) | £4,350 — weigh against rate saving from switching |
| Decision | Broker to model port versus new deal across current market products |
All figures are illustrative. Actual costs, rates and lender criteria vary. This is not financial advice.
At 65.1% LTV the borrower may have access to a wider range of product tiers, subject to income, affordability and lender criteria. The ERC decision depends on the current rate versus available alternatives — a broker runs this calculation before any application is submitted.
Why We Wrote This Guide
Fitch & Fitch is an independent mortgage broker serving clients across the UK, with established local hubs including Canary Wharf, Cambridge and Colchester. We advise on residential moves, complex income cases, large mortgages through our Private Office service, and specialist lending including bridging finance and buy-to-let.
We are an appointed representative of JLM Mortgage Network, authorised and regulated by the Financial Conduct Authority (FCA Registration Numbers 955014 and 300629). You can verify our registration at register.fca.org.uk.
Our recent industry recognition includes winning Best Broker Firm (8–50 Advisers) at the Mortgage Strategy Awards 2025, Best Broker Firm (11–50 Advisers) at the Mortgage Introducer Awards 2024, and Best Mortgage Broker (8–50 Advisers) at the Mortgage Strategy Awards 2026.
Home mover applications involve more moving parts than first-time buyer applications — the ERC calculation, the timing of sale and purchase, the equity dependency, and the choice between porting and switching all interact. We place these cases regularly across our office network, and the detail in this guide reflects what lenders actually assess rather than a generalised overview.
Frequently Asked Questions
What is a home mover mortgage?
A home mover mortgage is the residential mortgage you take out when selling your current property and buying a new one to live in. It is not a specific product — it describes the standard residential mortgage process applied to the circumstances of an existing homeowner who is moving. The key difference from a first-time buyer application is that you have equity to use as a deposit, an existing mortgage to deal with, and a timing dependency between your sale and purchase.
Should I port my mortgage or take a new deal?
This depends on your current rate, the early repayment charge on your existing deal, how much more you need to borrow, and what is available in the current market. Porting preserves your current rate, which is valuable if it is lower than what is now available. A new deal may be better if your existing rate is no longer competitive or if your deal is approaching its end date. A broker can model both options across current lenders before you decide.
Can I port my mortgage to a more expensive property?
Yes, provided your lender agrees to the new property and your affordability supports the full borrowing. The ported portion retains your existing rate. The additional borrowing needed for a more expensive property is assessed separately and will be priced at the current market rate for that portion. Both portions are combined in the affordability assessment.
What happens to my mortgage if my sale falls through?
If you have already had a mortgage offer issued for a new purchase and your sale falls through, your new mortgage offer lapses when it expires — typically after three to six months. You remain on your existing mortgage on your existing property. There is no automatic financial penalty from the mortgage perspective, though you may have incurred legal and survey costs on the intended purchase. Discuss the timeline risk with your broker before committing to a purchase with a fragile chain below you.
Do I pay stamp duty as a home mover?
Yes, at standard residential rates on the purchase price of your new home. The additional 5% surcharge for second homes and buy-to-let does not apply, provided the new property is your main residence and you are selling your previous home. If you complete on your new purchase before your old home has sold, the surcharge may apply at completion because you temporarily own two properties — you may be able to reclaim it if your previous main residence is sold within the permitted HMRC timeframe, currently generally 36 months. Your solicitor should confirm the position before exchange.
How do I calculate my available deposit?
Start with your property’s current value, deduct your outstanding mortgage balance to get your gross equity, then deduct estimated selling costs — estate agent fees, legal fees — to get your net equity. That net equity is your available deposit on the new purchase. Lenders will want to verify the property value through their own valuation, so their figure may differ from yours.
What if I want to buy before my current home sells?
This is possible but requires careful planning. Bridging finance can fund the purchase in the short term, with the bridge repaid when your sale completes. Your lender will need to be comfortable that both the exit strategy and the new mortgage are in place before releasing funds. Bridging finance carries higher rates than residential mortgages and is designed for short-term use only. A broker experienced in bridging can structure this properly and identify whether it is the right option for your circumstances.
How long does a home mover mortgage application take?
A straightforward application may receive a mortgage offer within a few weeks, but timing varies by lender workload, valuation, documentation and case complexity. Exchange and completion follow the legal process on both the sale and purchase. The whole moving process from instructing solicitors to completion varies considerably depending on chain length and local market conditions.
What not to tell a lender?
Nothing. Any misrepresentation on a mortgage application is mortgage fraud, which is a criminal offence with serious consequences. Common areas where people are tempted to shade the truth — bonus income they are not sure about, credit issues they hope will not show up, intended use of the property — will either be verified by the lender or surface later. The right approach is full disclosure, with a broker identifying which lenders’ criteria accommodate your actual circumstances rather than trying to make circumstances fit a specific lender.
Can I borrow money to help with moving costs?
Moving costs — removals, decoration, minor works — cannot generally be added to your residential mortgage at the time of application. The mortgage is assessed on the purchase price of the property, not the costs associated with moving in. Some borrowers take a small personal loan for this purpose, though this will be factored into the affordability assessment if taken out before or during the application. Discuss timing with your broker.
Next Steps
If you are planning to move home and want to understand your mortgage options before committing to a purchase, the most useful first step is to review your current mortgage — particularly the ERC position and the porting terms — alongside what the current market offers.
We can review your existing deal, compare porting and switching, illustrate deposit and affordability requirements across suitable lenders, and give you a clearer indication of the options available. Contact us to book a consultation with our team, or call 020 7859 4098.