Can I Keep My Fixed Rate If I Move House?

On a brilliant fixed rate and terrified moving house means losing it? You’re not alone.

Here’s the question everyone in your position asks: can I take my mortgage rate with me?

Potentially, yes. You may be able to carry your existing deal over to your new home — it’s called “porting” a mortgage. But it isn’t automatic. You’ll normally need to apply and meet your lender’s current criteria before it happens.

What does “porting” actually mean?

Simply this: taking your existing mortgage deal with you when you move.

Example:

£200,000 mortgage. 2.5% fixed rate. 2 years left on the deal.

If it’s portable, you keep that 2.5% rate on the £200,000 for the remaining 2 years, on your new home.

You don’t get a fresh five-year fix. You keep what’s left of your current one.

Is my mortgage automatically portable?

No. Some are, some aren’t.

Check your mortgage terms or ring your lender to find out.

And even if it is portable, you’ll still need to reapply when you move. This means making a new application.  The lender might look again at:

• Your income
• Your debts
• Your monthly outgoings
• Your credit history
• The amount you want to borrow
• The new property itself

Portable doesn’t mean guaranteed. You still need to pass the checks.

What if I’m buying somewhere more expensive?

Very common scenario.

Say you currently owe £200,000, but need £300,000 for the new place.

You might be able to port the £200,000 at your existing rate, and borrow the extra £100,000 separately, usually at a different rate.

So you’d end up with two chunks:

Your existing £200,000, at your current rate.

Plus £100,000 of new borrowing, at whatever rate’s on offer now.

Total: £300,000, made up of two different rates.

This is exactly why you shouldn’t just focus on “keeping my rate.” Look at the overall cost of the whole package.

What if I’m downsizing?

Different situation.

Say you owe £250,000 now, but only need £180,000 for the new home.

You’d have to repay part of your existing mortgage early.

Depending on your terms, that early repayment could trigger an Early Repayment Charge (ERC) on the amount you’re clearing.

Your lender can tell you exactly what that would cost.

Do I have to pass affordability checks again?

Yes, probably.

Your situation’s likely changed since you first took out the mortgage. Maybe you’ve:

• Switched jobs
• Had an income change
• Taken out car finance
• Picked up more borrowing
• Got bigger monthly commitments

Your lender will look at all of this again before agreeing to the move.

What’s the actual porting process?

Varies by lender, but broadly:

1. Check it’s portable. Find out if you can take your deal with you, and whether an ERC applies.
2. Work out what you need. How much mortgage does the new property actually require?
3. Apply to your lender. They’ll assess your current situation and affordability.
4. They assess the new property. It needs to work as security for the mortgage.
5. It gets arranged. If approved, your existing deal moves to the new property. Extra borrowing, if needed, comes at a separate rate.

Should I port, or just get a new mortgage?

Don’t assume keeping your old rate is automatically cheaper. Compare:

• Your current rate
• How long’s left on it
• Any Early Repayment Charge
• How much extra you need to borrow
• The rate on that extra borrowing
• Fees either way
• What a brand new mortgage would cost overall

A brilliant existing rate can be worth holding onto. But it’s the total cost that matters, not just the headline rate.

Quick answers

Can I keep my fixed rate when I move?
Potentially — if your mortgage is portable and you meet your lender’s criteria.

What does porting mean?
Taking your existing mortgage deal with you to your new home.

Do I need to apply again?
Yes, normally. Your affordability gets reassessed.

Can I port if I need to borrow more?
Often yes — you keep your existing deal and take extra borrowing separately.

Will I pay an Early Repayment Charge?
Depends on your mortgage and how much you’re repaying. Check with your lender first.

Bottom line

You might be able to take your fixed rate with you when you move. That’s porting.

But it’s not automatic. You’ll need to apply, pass your lender’s current checks, and get the new property approved.

Thinking about moving? Check your mortgage terms before you make any offers. Then you’ll know exactly whether your deal can come with you, and what extra borrowing or charges might be involved.

CERTIFIED QUALIFICATIONS, DISCLAIMER & REGULATORY RISK WARNINGS

• • Mortgages & Secured Loans: Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it. 
  • Insurance Products: Terms, conditions, and eligibility criteria apply to all protective insurance policies. Premium rates depend entirely on individual circumstances.