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Home Mover Mortgages

If you’re planning to move to a new home, a home mover mortgage can be an opportunity to secure a better mortgage deal or a mortgage for a larger amount.

Whether you’re moving to a new location or upgrading to a home that better suits your needs, our expert mortgage advisers can help you obtain the right mortgage product for your financial situation.

We’ll search 100s of home mover mortgages to find the right deal to fit your goals and support you through the process, ensuring your mortgage journey is as smooth and simple as possible.

Call our expert home mover mortgage advisers in Birmingham today. We’ll take our time to understand your financial situation and discuss all your right options with you. Call us today on: 0345 066 6555 or drop in to see us in Birmingham at Coleshill Road.

Home moving mortgages

Home mover mortgages are designed to help you move up the property ladder. They work in the same way as normal mortgages and are usually used to secure a larger loan because the owner wants to buy a bigger home.

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Options

You may find your existing mortgage is portable and can be used for your new home however you may still want to look for a better deal or larger mortgage. If your mortgage is not portable you’ll need to look for a new mortgage.

When you swap your current mortgage deal for a new one it is classed as remortgaging.

Porting

If you use your existing mortgage for your new home you may need a larger loan if the new property is worth more than your current home. You will need to apply for your mortgage again and you could end up paying higher interest plus an arrangement fee if your lender requests you acquire an extra mortgage for the additional loan.

Remortgage with a new lender

If you take out a mortgage with a new lender you may be able to pay off your existing mortgage. However, you are likely to incur substantial charges for exiting your current mortgage before the agreed time you’ll also have to pay valuation and arrangement fees for your new mortgage.

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Property Values and Home Moving Mortgages

Upsizing

To upsize, you’ll need to provide evidence that you can afford your higher monthly repayments. If you’ve had a salary increase or a significant rise in the value of your home this may help.

Downsizing

If you’re downsizing, you can look forward to a reduction in your monthly repayments as your loan amount will decrease. It could even be possible to buy your new home without a mortgage

Negative equity

If the value of your property has dropped it will be classed as negative equity and it will be difficult to find a mortgage for a new home. If you need to move for essential purposes, such as employment, you might be able to get a mortgage.

Our experienced new mover mortgage advisers in Birmingham are here to support you through the process and help you get the right home mover mortgage for your financial situation. Call us today for all the tailored mortgage advice you need on: 0345 066 6555 or drop in to see us at Coleshill Road, Birmingham.

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Mortgage Calculator

Get a projected residential mortgage quote based on your financial circumstances with our mortgage borrowing calculator. Find out what you could borrow in just seconds!

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Mortgage Calculator

What our customers say about us

Blossomfield mortgages were very helpful to me and my partner when we first enquired about whether we were mortgageable to buy our first home. We were very impressed with their professionalism. Best mortgage broker in Birmingham!

Sam Ansell

Amazing service provided by Blossomfield in a quick and timely manner. No matter what questions we had they were always willing and happy to answer with their wide knowledge and experience. Would recommend Blossomfield to anyone.

Geraldene Marsh

Excellent service, quick turnaround, as promised. Will be using again and again. Would highly recommend Blossomfield Mortgages.

James Dean

Excellent service from Blossomfield Birmingham, they were able to sort a mortgage out for me very quickly and made the whole process simple and stress free, always available when needed and provided regular updates.

Jack Moriarty

I approached Blossomfield regarding a mortgage using there Birmingham branch and the service I have received has been nothing short of amazing their efficiency and passion to get everything done and approved in a professional manor is astounding.

Ryan James

Blossomfield Mortgages provided fantastic advice. Our mortgage approval went through very fast, as our mortgage was handled with the utmost urgency. From start to finish, the whole process was a breeze. We sat back and let them handle all the hard work.

Lewis Jewsbury

What our customers say about us

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Frequently asked questions...

How much can I borrow for my new mortgage?

How much you can borrow is down to your individual affordability, taking into account your income and outgoings. Lenders will also look at your credit score and any financial commitments you currently have. Our mortgage brokers will always advise you on the lender(s) who can offer you the most suitable and affordable mortgages.

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My bank will not lend me the amount we need. Can we still buy the house we like?

Blossomfield Mortgages has access to mortgage deals that are not available direct from lenders on the high street. Loan amounts will differ from lender to lender, and some lenders may offer a bigger mortgage than others. Our friendly mortgage brokers will discuss affordability to see which lender’s criteria you meet and how much you can borrow responsibly.

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How long can I borrow my mortgage for?

On average, mortgages last around 25 years, but some lenders will allow a term of up to 40 years, depending on your circumstances.

When discussing the length of the mortgage with our experienced mortgage brokers, they will guide you to the most suitable term.

A good practice is to keep the length of the mortgage to a minimum whilst still allowing you to have disposable money for a high standard of life, as this will result in less interest being paid over the full term of the mortgage.

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Frequently asked questions...

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