How Mortgage Porting Works (Easy Guide for Homeowners) – Nick Statman

Mortgage porting could save you thousands when you move house. But most homeowners don't even know it exists. Here's how it actually works. When you sell your current home and buy a new one, you can transfer your existing mortgage deal to the new property. This means you keep your current interest rate, and you avoid those hefty early repayment charges. For example, if you're locked into a 2% rate and current rates are sitting at 5%, you're saving a fortune every month. Not every mortgage is portable though, so check with your lender or give me a call. I'm Nick Statman.


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