If you’re planning a house move in Newcastle, one important question to consider is whether you can take your current mortgage with you to your next home.

This process is known as “porting a mortgage”, and it can be a smart way to keep your existing interest rate and terms, making your move more straightforward and potentially saving you money.

What is mortgage porting?

Porting a mortgage means transferring your existing mortgage deal from your current property to your new one.

It allows you to keep the same interest rate, term, and product features you originally agreed with your lender.

For many homeowners in Newcastle, porting offers a way to avoid early repayment charges, secure a rate that might be better than current market rates, and minimise disruption to your monthly finances.

Why do homeowners port their mortgage?

The main benefit of porting your mortgage is being able to maintain a deal you’re happy with, especially if you locked in a competitive interest rate before rates started to climb.

By porting your mortgage in Newcastle, you avoid having to settle your mortgage early (which can lead to expensive fees) or losing a favourable deal by switching lenders.

For homeowners who need stability in their monthly payments, porting can help keep your costs predictable during a busy time like moving home.

You also save the hassle of arranging a new mortgage from scratch, as much of the paperwork and criteria remain the same.

How does the porting process work in Newcastle?

If you want to port your mortgage in Newcastle, here’s what the process usually looks like:

  • Check if your mortgage is portable: Not every mortgage can be ported, so your first step is to review your mortgage documents or speak to your lender or mortgage broker in Newcastle.
  • Start planning early: Timing is crucial. You’ll need to coordinate the sale of your current home and the purchase of your new property so you can settle your mortgage and then “move” it over to the new address on completion day.
  • Reapply with your lender: Even if your mortgage is portable, you’ll still need to complete a new application and pass your lender’s affordability checks. They’ll look at your income, outgoings, credit score, and the details of your new property.
  • Get a property valuation: Your lender will want to ensure the new property meets their criteria. This means a new valuation will be carried out, and sometimes the type or condition of the property can affect whether your mortgage can be ported.
  • Complete the transfer: Once you’re approved, your lender will arrange to pay off the mortgage on your old property and set up the same deal on your new home. The interest rate, remaining fixed term, and any other product features will transfer over, subject to the lender’s rules.

Porting to a more expensive or cheaper home

If your new property in Newcastle is more expensive than your current home, you may need to borrow extra funds.

Your lender will treat this as a new top-up mortgage, usually with a separate interest rate and product. You’ll then end up with two parts to your mortgage, one at your original rate, and one at the new rate.

Your mortgage advisor in Newcastle will explain how your payments will be structured and whether there are any fees for the new borrowing.

If you’re moving to a cheaper property, you might repay part of your existing mortgage, reducing your balance and potentially your monthly repayments.

You may also avoid early repayment charges, provided you stick to the lender’s process for porting.

Common considerations and potential challenges

When you’re considering porting your mortgage in Newcastle, there are a few important factors to keep in mind.

Even if your mortgage deal is described as portable, your lender’s latest criteria will still apply at the point of moving. This means you’ll need to satisfy their affordability checks again, and any changes in your job, income, or financial commitments could affect the outcome.

The type of property you’re buying also matters, not all homes are accepted by every lender, especially if the property is unusual or has structural issues.

Timing can also be a challenge, as selling and buying on the same day doesn’t always go exactly to plan; if there’s a gap between transactions, you may need a short-term solution or even bridging finance, which your mortgage advisor in Newcastle can help you arrange.

Finally, while porting is often convenient, it’s always wise to review current interest rates before committing, sometimes, paying an early repayment charge and moving to a new lender could work out cheaper in the long run, so comparing all your options is key.

Is porting always the right option?

Porting is often a great way to keep your costs down and make your move simpler, but it’s not always the most suitable fit for everyone.

If you can access a much lower rate elsewhere, or if your circumstances have changed significantly, it may be worth considering other options. Speaking with a mortgage broker in Newcastle is the most suitable way to weigh up your choices and decide what’s right for your plans.

You can find more information on our dedicated porting a mortgage in Newcastle page, or contact our team to discuss your move in detail.

Get expert advice before you move

Porting a mortgage in Newcastle can help you keep your current deal and avoid unnecessary costs—but every move is different.

Our experienced advisors will look at your circumstances, check your lender’s criteria, and help you find the most suitable solution for your home move.

If you’re thinking about moving, or just want to know whether porting is possible for you, book a free initial appointment with our team today. We’re here to make your next step as smooth and cost-effective as possible.

Date Last Edited: July 25, 2025