Moving home and taking your product rate to a new mortgage
If you’ve decided to move home, you might be able to take your product rate with you to a mortgage on your new property. This is called ‘porting’.
Things to consider
- Your current and new mortgage must both be with Halifax
- If you are borrowing more you will need a new product for the extra amount
- If you are borrowing less and an early repayment charge applies, you’ll have to pay this on the difference
What if I start my new mortgage before I repay my existing mortgage?
- If you want to buy a new property and aren’t selling your existing one straight away, you may be able to have two loans with us for a short time
- We’ll agree to this if we think you can afford to pay the monthly payments on both loans. We also look at the type of property, how much equity you have and if you have any adverse credit
Can I port my product rate if I’ve sold my house but I’m not quite ready to buy another?
If you’re selling your home before buying a different property, you’ll need to repay your existing mortgage. This means you will have to pay any early repayment charges that apply. However, if you apply for a new mortgage with us soon afterwards you may be able to port your old product rate with you to your new mortgage.
Once your new mortgage has started, you can contact us for a refund of the early repayment charge. This is a concession and it may not always be available. Please call us on 0345 850 3705 before you sell your property and we can tell you if this is possible.