Porting a mortgage: keeping a great rate while moving on

June 2025

Background

After buying their first home together in London a few years ago, two of our clients, both 29 and in professional roles, were now heading in different directions. Still close friends, but one was moving in with a partner while the other was continuing the property journey solo.

They were partway through a fixed rate mortgage they had taken out when interest rates were much lower than today. With a potential move on the cards, they weren’t sure what their options were or if they would be hit with a big penalty for moving before the deal ended.

Main Issue - What happens to your mortgage when life changes?

The fixed rate they had secured was significantly better than anything available in today’s market. But with the property being sold and one party looking to buy again, the worry was whether that deal would be lost.

Paying an early repayment charge (ERC) would have meant thousands in fees, followed by starting a new mortgage at a much higher rate. The question was whether there was a way to avoid that, and whether the solo buyer could even afford to take on the mortgage alone.

On top of this, the whole process of porting a mortgage felt confusing. They didn’t know where to start, how it worked, or what timelines needed to be met to avoid triggering the penalty.

The MUVADO method

We took the following steps to help navigate the transition smoothly, avoiding any unnecessary charges and ensuring affordability for the new solo borrower:

• Reviewed the existing deal: Looked at the remaining term, ERCs, and whether the lender allowed porting

  
  

• Confirmed porting was possible: The lender allowed the existing rate to be transferred to a new property, avoiding any ERCs

  
  

• Ran solo affordability: Based on her current income, the remaining borrower could afford the mortgage. We extended the term slightly to keep the monthly payments comfortable

  
  

• Arranged additional borrowing: The new purchase required extra funds, so we arranged a top-up on a new product. The overall blended rate was still much lower than anything she could have accessed on her own

  
  

• Managed the timing: We supported with the planning to make sure the porting was done within the lender’s timescales and no penalties were triggered

  
  

• Clarified future steps: We discussed when to review again, and what might change down the line

  
  

What is porting a mortgage?

Porting means transferring your existing mortgage rate to a new property. It is still technically a new application, but if timed and managed properly, it allows you to avoid paying a penalty and keep a deal you wouldn’t be able to get today.

Outcome

The solo buyer secured her new home without triggering any early repayment charge. She was able to keep her existing low interest rate for the majority of the mortgage, and added new borrowing at today’s rates for the top-up. The blended rate still worked out significantly cheaper than starting from scratch.

Monthly payments remained affordable, the mortgage stayed with the same lender, and we will revisit the setup again once life evolves.

Summary

If you are sitting on a great mortgage rate and thinking of moving, don’t assume you have to give it up.

Porting can be a smart way to keep what you have, if it is the right fit for your

situation.

Getting the timing and structure right is key, and having someone guide the process can save you stress, money and confusion.

Book in a call

Risk warnings

Your home maybe repossessed if you do not keep up repayments on you mortgage.