If you’re thinking of moving house, you can move your lifetime mortgage with you to your new property so long as your new home meets our lending criteria. We will then ensure that your lifetime mortgage moves with you to your new property, in a process known as 'porting'.
If you do decide to go ahead, we will need you to complete a new application form. You will also need to have a valuation conducted on your new property.
Valuation and legal fees
A fee of 0.1% of the value of your new property will be charged by us for the valuation. There may also be a charge for any legal work that needs to be undertaken. Certain reports may carry additional charges.
Please note, if your new property is valued at less than your current property, we may ask you to repay part of your lifetime mortgage. If your property is not suitable under our lending criteria we may ask you to repay all of your lifetime mortgage and in this situation, an early repayment charge may become payable which can be significant, so please call us to discuss your circumstances as soon as possible.
To discuss your potential move in more detail, please call us on 01737 233297 (8.30am to 5.30pm Monday to Friday).
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