Why “We’ll Just Port It” Isn’t a Plan…

When moving house, porting isn’t automatic

You still need to:

• Pass credit scoring

• Pass affordability

• Meet current lending criteria

• Have the property valued at the purchase price

If your circumstances have changed, porting can fail.

What People Forget

If you’re borrowing more, that extra borrowing:

• May be at a different rate

• With a different end date to your current rate and not line up in future

• You can end up with split products

• Porting may not actually be the best move!

Affordability May Be Tighter

Even if your income has grown, so have:

• Commitments

• Children and related costs

• Lifestyle spending

Prepare First

Before assuming you’ll port, ask:

• Can our current lender lend enough?

• What are the exit costs for the current mortgage?

• Is it actually worth paying an exit penalty for a better package moving forwards?

Porting can work well, but it needs planning!