To put it simply, a home mover mortgage is the process of getting a new mortgage when you relocate to a higher or lower valued house or change your mortgage provider.

If you apply for a new mortgage on a new property and not selling your current home, you will have two options to think about.

You can request your current lender to provide you with a Consent to Let, which will allow you to let your property for a limited time. Remember that this is a short-term solution.

Alternatively, you can remortgage your current home to a buy-to-let mortgage. This means you can let out the current property once a new mortgage is complete. With the buy-to-let option, you may be able to raise some money for a new property purchase, depending on house value, loan amount and achievable rent.

When moving home, the first thing you need to do is to find out your mortgage options. Can you take the current mortgage to your new property? How much loan can you afford? Is it worth applying for a new mortgage or taking the current mortgage to the new property?

When you go to a high street bank, the bank may show you only mortgages available through them, and you don’t know if you fit their lending criteria. Experienced mortgage advisors, on the other hand, have access to whole market mortgage products that meet your needs. In addition, a mortgage broker can explore all the options, advise you on the right mortgage and talk you through the whole process of you mortgage application from start to finish.

Higher stamp duty is payable if you choose to keep your current residential home as buy to let. Always check the stamp duty calculator.

Early repayment charges: if you break your mortgage to move home you may have to pay this fee. Your mortgage broker can help you to save this fee.

Mortgage broker fees: Mortgage broker charges are payable for arranging the mortgage. We offer fee free advice and do not charge fees to arrange the mortgage.

Solicitor fees: You will need a solicitor to deal with legal matter of property purchase.

Removal cost:  you may need a removal company to relocate your home. Always consider these charges as they can be big bill to pay.