What is porting a mortgage?
When moving house one option is to transfer your mortgage interest rate to your new home – this is porting.
You may want to port your mortgage product for 2 main reasons:
- It’s a great product and much better than those currently available
- To avoid early repayment charges
To port a product you need to apply to your current mortgage lender and ask them to transfer or port your interest rate deal over to the new home. The lender will still need you to qualify for the new mortgage and will look at your deposit amount, the new property, financial status including income and also your credit history.
HOW CAN WE HELP?
Choosing a mortgage is an important financial decision and it’s easier with someone who’s on your side. We work as a whole of market mortgage broker so that you get the best possible choice of mortgages.
DRAKE MORTGAGES ARE EXPERT BUY TO LET MORTGAGE BROKERS
We are experienced whole of market brokers who can help you get a great holiday let mortgage.
We can also give you access to exclusive schemes and some specialist lenders who don’t deal direct with borrowers. Loans are available to individuals and SPV’s upto 75% and we can help with Scottish properties, mixed use, multi-lets and Airbnb.
Bridging loans are one of the most useful, multi-purpose, types of lending solutions available. You can get a bridging loan approved on almost any property for almost any reason. Great for auction purchases or snapping up a buy to let bargain.
And we can arrange them really fast.