Moving home is considered one of the most stressful things you can do.
Here at The Mortgage Mum Warwickshire, we aim to alleviate some that stress by ensuring that you fully know your financial situation and are in the best position possible, before you put your property on the market.
We combine our expertise with a very personal service to ensure you have all the tools to move home smoothly and effortlessly.
Moving home with a mortgage in Coventry, Warwick, Leamington Spa, Kenilworth, Stratford-upon-Avon, and the rest of Warwickshire
If you are considering moving home and you have a mortgage, there are a couple of factors for you to contemplate.
As well as the standard mortgage decisions we will guide and advise about, you will need to decide what to do with your existing mortgage.
If you are in a deal with your current mortgage provider, chances are you will have early repayment charges if you pay the loan back.
Your current mortgage may be portable, so you can move home and take the mortgage with you to the new property without having to pay the early repayment charges. You will need to meet your current lenders criteria in terms of affordability and credit in order to port your mortgage.
If your current mortgage is not portable, you will have to pay a penalty to move home if you are in a deal and have early repayment charges.
If you are in a deal without early repayment charges or have fallen on to the lenders standard variable rate you may not need to port your mortgage and may be able to apply for a new mortgage with a new lender.
We will take information about your situation, the early repayment charges payable, your current interest rate etc and advise which route would be best for you based on your personal circumstances.
Costs to consider for moving home in Coventry, Leamington Spa, Kenilworth, Warwick, Stratford-upon-Avon, and the rest of Warwickshire
There are a number of costs you must pay when you move home that you do not have to pay as a first-time buyer. During your initial appointment, we will complete a cost of move exercise so you know how much money you will need on top of your deposit to purchase the home of your dreams.
Some of these costs include:
- Estate-agents fees
- Solicitor costs to sell
- Solicitor costs to buy
- Stamp duty
- Survey costs
- Mortgage advice
- Mortgage arrangement fees
- Early repayment charges
- Moving costs such as cost for removals