Homemover

Homemover

Moving home can be stressful, sometimes with the additional stress of selling. Let 3D Mortgages take away this stress and guide you step by step
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Find a new property

There are many different reasons why people move home, whether it be moving to a larger house, relocating due to work or life events, the list can go on. Any home moving journey starts with identifying a new property and agreeing a price. However prior to doing this it is always good practice to look into your onward mortgage options to enable an idea to become reality. There could be clauses on your current mortgage which means you may have to remain with your current lender or you may be free to shop around. Once you have looked at mortgages and have found your next dream home you are well on your way to realising your goals of moving.

Your Current Mortgage

So you have found the property. Now you want to proceed to the next stage. Well there are three ways in which you could go with your mortgage decisions. You could hold onto your existing property and maybe rent it out or you might be in the process of selling it. That said you might still be tied into your current mortgage and therefore have redemption fees. So the options could be;
1) Keep the property and rent it out - you will then require either a let to buy mortgage or whats called "consent to let" from your existing lender. However please note in doing this your equity will remain in the property unless there is enough to take out.
2) Sell the property and use the equity to put down on the new one and shop around for a new mortgage.
3) Sell the property and use the equity as a deposit on the new one but port your current mortgage over to the new property.

Your new mortgage

Once you have decided on your plan of action with your current mortgage and property it is time to put mortgage arrangements in place. If you are porting your existing mortgage you will either need to sit down with a broker or the lender themselves. Switching your current mortgage to a let to buy is again a scenario where you will be able to shop around but this kind of transaction is more complex as both this and the onward purchase mortgage will have to more or less complete side by side. If you are shopping around, it is always good to talk to someone who has access to the whole of the mortgage market which will save you lots of time and effort. 3D Mortgage have experience in all home moving scenarios so why not get in touch to see how we can help you.
Your home maybe repossessed if you do not keep up repayments on your mortgage

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We offer a wide range of services to meet every type of need and mortgage requirement. We use cutting edge technology to research the whole of the mortgage market, to get you through the mortgage maze with no hassles.
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