Moving home is considered one of the most stressful things you can do.
Here at Warwickshire Mortgages we aim to alleviate some that stress by ensuring that you fully know your financial situation and are in the best position possible, before you put your property on the market.
We combine our expertise with a very personal service to ensure you have all the tools to move home smoothly and effortlessly.
Moving home with a mortgage in Coventry, Warwickshire and the rest of the UK
If you are considering moving home and you have a mortgage, there are a couple of extra factors for you to consider in addition to the standard mortgage decisions you make.
If you are in a deal with your current mortgage provider, chances are you will have early repayment charges if you pay the loan back before the deal expires.
Your current mortgage may be portable, so you can move home and take the mortgage with you to the new property without having to pay the early repayment charges. If you meet the lenders criteria to port – credit and affordability, this could be a good option to avoid paying early repayment charges. You may need to take a top up mortgage to bridge the shortfall between the amount you have currently borrowed and the amount you need to purchase a new home.
If your current mortgage is not portable, you will have to pay a penalty to move home if you are in a deal and you have early repayment charges.
If you are in a deal without early repayment charges or have fallen on to the lenders standard variable rate you may not need to port your mortgage and may be free to apply for a new mortgage with a new lender without any penalties.
We will take information about your personal circumstances, the early repayment charges payable, your current interest rate etc and advise which route would be best for you.
Costs to consider for moving home
There are a number of costs you must pay when you move home that you do not have to pay as a first-time buyer. During your initial appointment, we will complete a cost of move exercise so you know how much money you will need on top of your deposit to purchase the home of your dreams.
Some of these costs include:
• Estate-agents fees
• Solicitor costs to sell
• Solicitor costs to buy
• Stamp duty
• Survey costs
• Mortgage advice
• Mortgage arrangement fees
• Early repayment charges
• Moving costs such as cost for removals
Which areas can we cover?
We can help home movers in Coventry, Warwick, Leamington Spa, Stratford upon Avon, Kenilworth, Nuneaton, Bedworth, Atherstone, Coleshill, Southam, Rugby and the surrounding areas in our office and the rest of the UK via telephone/ video call.