Mortgages

If you already have a loan on your existing home, there is a strong possibility it is a portable mortgage. This makes the process of transferring your existing mortgage to a new property much easier when moving to a bigger or a smaller home. Porting a mortgage with the same lender is much more convenient than searching for an alternative loan.

Porting your mortgage may seem simple on the surface, but unfortunately, it’s not always as straightforward as it should be. Before a lender will authorise you to transfer your existing mortgage to the new property, they undertake another round of regulatory checks.

Ideally, you should be able to maintain the same interest rate, loan amount and terms with your current lender. However, because a number of factors typically change since your initial mortgage was signed, lenders rarely maintain the existing criteria. As a result, home movers risk signing to a mortgage contract with less favourable terms and interest repayments.

The team of qualified experts at ICF Mortgages ensure you avoid potential pitfalls. We can advise you of your best options and make porting your mortgage straightforward and stress-free.

Porting Mortgage Assistance 

Before a mortgage lender allows you to transfer your existing mortgage to another property, you will need to submit an application together with a new offer letter. Your mortgage lender will also run credit checks, assess your income and value the property you intend to buy.

ICF Mortgage provides a step-by-step beginning-to-end service to help you obtain a revised mortgage deal that is in your best interests. Our goal is to protect our clients from the risks involved when porting a mortgage and offer alternative solutions if transferring your existing mortgage is not possible.

Our mortgage experts are also advocates of mortgage protection policies and can guide you on the best way to protect your investment, potential future income and your family. Our mortgage brokers have a wealth of experience in the industry, and persistently search the market to find the best deal for you.

Avoid entering a porting mortgage deal on less favourable terms. Contact the experts at ICF Mortgages and let us help you protect your future.