Home Mover Mortgages

Your home may be repossessed if you do not keep up repayments on your Mortgage.

What Are Home Mover Motgages?

If you’re planning to move home, the mortgage market may look very different from the one you first encountered. Over the years, the rules have changed - and lenders now take a much closer look at affordability and long-term sustainability. That’s where good advice can make all the difference.

Home mover mortgages are designed for people changing homes, whether it’s for more space, a better location, or a home office now that hybrid working is here to stay. Low interest rates and increased flexibility have encouraged many to trade up or downsize, and we help just as many movers as we do remortgage clients.

What’s Changed Since You Last Moved?

Regulation has tightened considerably. The Financial Conduct Authority now requires lenders to:

Carry out full affordability checks
Verify income properly
Limit interest-only lending

Self-certified loans have gone the way of the fax machine, and interest-only options are now restricted to specific cases - such as Retirement Interest-Only (RIO) Mortgages for older borrowers. In short, lenders want to see the numbers, not just hear the story.

Common Questions

Still have some questions? Here are a selection of questions our clients often ask about Mortgages.

Get In Touch

Please choose FAQs from the Flexi Block Options at the bottom of this page.

How long does the mortgage process take from application to completion?

On average, 6–10 weeks, depending on your solicitor, the lender and whether the property purchase runs smoothly.

When should I start looking at a remortgage?

Ideally 4–6 months before your current deal ends. That gives us time to secure a new rate without pressure. If interest rates come down in the meantime, we can arrange to jump ship and secure a better rate.

What happens if I miss a mortgage payment?

Missing payments can damage your credit record and lead to serious consequences if it continues. If you ever struggle, it’s vital to speak to your lender as early as possible.

What’s the difference between a fixed-rate and a variable-rate mortgage?

A fixed rate stays the same for a set period, giving you certainty of monthly outgoings. A variable rate can move up or down, depending on the lender or the Bank of England base rate.

What is a buy-to-let mortgage and how is it different from a residential mortgage?

A buy-to-let mortgage is for properties you are renting out. They’re assessed mainly on rental income rather than your salary, and usually require a larger deposit.

THE FINANCIAL CONDUCT AUTHORITY DO NOT REGULATE SOME FORMS OF BUY TO LET MORTGAGES.

Key Things to Consider When Moving Home

Existing mortgage deal: Your current mortgage may include early repayment charges. If so, we’ll check whether it makes sense to ‘port’ or (transfer) the mortgage to your new property and top it up for any extra borrowing.
Affordability: The combined payments on your new and any top-up mortgage must remain comfortable both now and in the future. We’ll assess this carefully before recommending any deal.
Your track record: Having made regular payments on your current mortgage without missing a beat works in your favour. It shows lenders you’re a reliable borrower and can improve your credit score. The same applies to well-conducted unsecured credit such as loans and credit cards.
Age and mortgage term: You’ll naturally be older than when you last moved. Many lenders will now lend up to age 75 without requiring pension proof, but others are more strict. We can help find lenders whose criteria suits your circumstances, but expect us to challenge you if you think you’ll still be working up to age 75 - we'll need to know about your cunning plan.

Deposit and equity: If you’ve owned your current home for a while, you may have built up equity that can be used as a larger deposit. A bigger deposit can unlock lower interest rates, or you may choose to release some cash for improvements on your new home.
Property value risks: Even though prices have risen in recent years, values can go down as well as up. It’s wise to make sure your next property would still suit you if moving again became difficult in future. No-one wants to be stuck in a home that is to small, too big or otherwise not right for a growing (or shrinking!) family. And don't assume that now the kids have left home, you can simply opt for a smaller home with fewer bedrooms - they have a habit of bouncing back!
Credit history: Lenders are cautious about applicants with past credit issues. Obtain a free statutory credit report from Experian or Equifax to check for anything that might cause concern. We can review it with you before applying. No judgement, just solutions.
Protection needs: A bigger mortgage often means revisiting your life cover and protection policies. We’ll review what you have and recommend any updates needed.

Please choose Testimonials from the Flexi Block Options at the bottom of this page.

View Our Reviews on trustpilot

How We Can Help

We’ll guide you through all your home moving options, check what your current lender can offer, and compare this against the wider market. If we think your plans stretch too far, we’ll say so - but we’ll also show you what to do to make them achievable.

To arrange a no-obligation chat or meeting at our expense, please use the Contact Us form below.

Contact Us

Contact Andy Wilson Financial Services directly or fill out your details and we will contact you as soon as we're available.

Call Us:

01522 590015

Mobile:

07871 838230

robert@andywilsonfs.co.uk

Book A Meeting with Robert

11 Boscombe Close, Lincoln, LN6 3TG

Your home may be repossessed if you do not keep up repayments on your mortgage. There may be a fee for mortgage advice.

The precise amount will depend upon your circumstances but we estimate it will be £495, and £595 for buy-to-let mortgages.

Mortgages Contact Form will show here

For more information on how we store your data please view our Privacy Notice