Home Mover Mortgages


to Lynton Mortgages,

We’re committed to offering honest, personalized mortgage advice. Our down-to-earth advisers simplify the process, ensuring you secure the right mortgage without hidden fees. Reach out for a fee-free, no-obligation chat. Let us guide you through the mortgage market to find your perfect solution.

What do we mean by home mover mortgages?

It’s important to clarify the distinction between your situation and that of a First Time Buyer. A home mover is essentially someone who is selling a property to purchase their next home. Unlike a First Time Buyer, you already have a property that you’re transitioning from.

As a down-to-earth mortgage adviser at Lynton Mortgages, I prioritize transparency and clarity in explaining these nuances to my clients. My focus is on ensuring that you understand your unique situation and providing you with the guidance you need to navigate the process seamlessly. Let’s discuss your specific circumstances and find the best mortgage solution for you.

What moving costs need to be considered?

You’ll encounter similar costs to those of a First Time Buyer, but there are additional expenses to consider as you navigate the process of moving homes. Naturally, you’ll need to budget for a deposit on your new property, which often stems from the equity built in your current home along with any extra savings you may have.

There are also estate agent fees to factor in. It’s essential to choose an estate agent wisely; while some may offer lower fees upfront, they might not invest much in marketing your property. Opting for an agent with higher fees could lead to better results and potentially more profit in the end.

Additionally, you’ll need to account for solicitor fees for both buying and selling, as well as removal costs, including potential storage expenses for your belongings. Lastly, don’t overlook valuation fees and stamp duty charges.

As a down-to-earth mortgage adviser at Lynton Mortgages, I strive to provide transparent guidance to my clients, ensuring they understand all aspects of the home-buying process. Let’s work together to manage these costs effectively and secure the ideal mortgage solution for your needs.

How much can I borrow as a home mover?

The amount you can borrow varies greatly depending on the lenders you approach. While banks typically offer loans up to their predetermined maximum, working with a broker like Lynton Mortgages opens up a wider range of options. We can explore multiple lenders to potentially secure a higher borrowing amount tailored to your specific circumstances.

For instance, in a recent mortgage application I handled, the borrower’s employment with the NHS resulted in vastly different income assessments from different lenders. This discrepancy led to a significant £80,000 difference in borrowing potential. Understanding these nuances and knowing which lenders to approach can greatly impact your ability to secure a property that meets your needs, whether it’s an extra bedroom for your growing family or other requirements.

It’s not just limited to NHS mortgages; every individual’s income situation is unique, and each lender evaluates it differently. As a rule of thumb, borrowers can typically expect to borrow between 4.5 and 5.5 times their salary, with variations depending on the lender.

At Lynton Mortgages, I’m committed to providing honest and personalized advice to help you make informed decisions about your mortgage options. Let’s work together to explore all possibilities and find the best solution for you.

Speak to an expert

Welcome to Lynton Mortgages, where our dedicated team provides personalized assistance tailored to your needs. Whether you’re buying a new home or considering a remortgage, we’re here to guide you every step of the way. We prioritize protecting your property and lifestyle by finding the best solutions for you. Trust us for transparent advice with no hidden fees. Contact us today to start your journey to the perfect mortgage solution.

What is porting?

If you’re currently in a fixed-rate mortgage and considering moving before the term ends, you might face early repayment charges. However, many lenders offer the option to ‘port’ your mortgage to your new property, avoiding these charges. If the new home is cheaper, porting is straightforward, but if it’s more expensive, you may need a top-up mortgage alongside your ported one. Rest assured, I’ll guide you through this process with transparency and no hidden fees.

Is porting a mortgage a good idea?

Whether it’s worth paying an early repayment charge to port your mortgage depends on your unique situation. For instance, if your current lender offers a limited amount for porting, while a new lender provides an additional £30,000 to £40,000, paying a £2,000 early repayment charge might be worthwhile to secure the property you desire.

However, in some cases, the early repayment charge could be higher, making it less feasible. During our conversation, I’ll provide transparent guidance tailored to your circumstances, explaining all available options to help you make an informed decision.

How does the equity in my home affect my options?

When you have more equity to put down on a property, it signals to the bank that you’re a lower risk borrower. Consequently, you’re more likely to qualify for better interest rates compared to those with a higher Loan to Value ratio.

For instance, individuals with a larger deposit typically enjoy lower rates than those with only a 5% deposit. Moreover, having more equity in your home can also lead to lenders being more flexible in how much they’re willing to lend you. In essence, a larger deposit can potentially unlock higher borrowing limits.

How can a mortgage broker help?

One of the most daunting aspects of moving homes is selling your current property. Coordinating the sale with the purchase of a new one, along with managing the rest of the chain, solicitors, and mortgage arrangements, can be overwhelming.

At Lynton Mortgages, we understand the challenges you face. That’s why we’ve developed a comprehensive process to alleviate this stress. Our team specializes in securing mortgage approvals, while others handle every aspect of the process until you receive your keys.

We act as your dedicated project manager throughout the entire home-buying journey, allowing you to focus on your daily responsibilities without distraction. From liaising with solicitors to coordinating with estate agents, we ensure seamless collaboration and a smoother, faster process.

With Lynton Mortgages by your side, you can navigate the complexities of buying a home with ease and confidence.


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