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Porting a mortgage in Manchester is the process of transferring your current mortgage to a new property.
This option works well if you’re locked into a favourable fixed rate or have a beneficial long-term tracker rate you wish to maintain.
By porting your mortgage, you can sidestep early fees associated with moving home, keeping your existing mortgage rate and term intact.
Porting a mortgage in Manchester typically involves reapplying with your current lender to transfer your existing mortgage deal to your new property.
The process often requires a fresh affordability check and may include property valuation fees. While porting retains your current interest rate, any additional borrowing for a more expensive property is likely to be subject to the lender’s standard rates.
This approach can be particularly beneficial for those with early repayment charges on their existing mortgage.
Deciding whether to port your mortgage in Manchester depends on your circumstances.
While porting helps you keep a favourable rate and avoids early repayment charges, it’s worth comparing alternative deals.
Sometimes, switching to a new mortgage can offer cost savings or greater flexibility, especially if your financial situation or the mortgage market has changed.
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Very good efficient service
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Paul
This is our second time using Manchester Moneyman. Daniel and Kerry have been amazing throughout the process. We had issues with the solicitors which Kerry helped resolve without even being asked. Thank you for everything and would not hesitate...
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Very straightforward and clear, they made everything so simple for my first mortgage and the renewal was even easier.
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Gary
This team is fantastic! They handle everything, making the whole process incredibly easy and hassle-free. I highly recommend them!
2 months ago
Michelle
I would high recommend this service they were amazing, and very professional. They were helpful throughout the whole process.
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Michelle
Amazing service, extremely helpful and professional. Would highly recommend. Very happy with the service
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Mrs Vanessa
Brillant. Helped us with non-standard employment conditions and were very efficient at getting everything sorted. Also very easy to get hold of. We always use a paid broker, their fee is very reasonable for the efficiency and personal service you...
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Matthew
Can not speak highly enough of the people I have spoken to and the service I have received from the team. Charlie and Debbie are a credit. None patronising, easy to speak to, welcoming and very helpful. Will continue to recommend to friends.
2 months ago
Ruth
Excellent experience with Matt and Stacey from UK moneyman. As first time buyers they made this experience easy and stress free. I'd really recommend using UK moneyman! 10/10!
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Christopher
Brilliant service. Knowledgeable & very professional.
3 months ago
Mrs Claire
Very helpful got us a mortgage a lot sooner than we expected. Very happy
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john
Louise was absolutely outstanding !!! We had a few issues with the property we were purchasing and Louise was so helpful in getting us the answers we required from the lender within a timely manner. I spoke with Louise regularly and she was...
4 months ago
Jiri
Leo from Manchester Moneyman was very helpful and efficient in securing us a mortgage on much better terms than our bank could offer. Thank you!
6 months ago
Olusola
The process has been stress free from the start to the end. The team has been helpful. I will definitely recommend Manchester Moneyman to people.
6 months ago
John
We've used UK Moneyman for two house purchases and remortgaging our current home. The team are unfailingly professional and lovely to work with. I'd recommend them to anyone in need of an excellent mortgage broker.
6 months ago
Alanya-Lee
As first time buyers, we needed all the support and guidance we could get. Tom was fabulous, honest and genuinely had our best interest at heart. He answered all of my silly questions and was always a phone call away.
6 months ago
Chiara
Worked with Malcolm and Debbie! Couldn’t recommend them enough. Thankyou for all your help!
7 months ago
Marco
Leo went above and beyond to provide all the information and assistance I needed to secure my dream property. Very friendly and professional. Highly recommended!
7 months ago
Stephanie
Originally took mortgage out 5 years ago and have just re-mortgaged with them. As this was a product transfer and I was a returning customer this was a no charge for this service. Can’t ask for better than that. All paperwork done by them and I...
7 months ago
Chris
Amazing service from start to finish!
8 months ago
When porting a mortgage in Manchester, you will need to provide documents similar to those required for a new mortgage application.
These include proof of identity (e.g., passport or driving licence), proof of income (e.g., payslips or tax returns), bank statements for the past three months, and details of your current mortgage.
Your lender may also request information about your new property, such as a valuation report or an agreement in principle.
Not all mortgages are portable.
While many lenders offer this option, it’s subject to the terms and conditions of your existing mortgage agreement. Fixed-rate and tracker-rate mortgages often allow porting, but some discount or specialised products might not.
It’s crucial to check with your lender or mortgage broker in Manchester to confirm whether your current mortgage can be ported.
Yes, self-employed individuals in Manchester can port a mortgage, but the process may involve more rigorous affordability checks.
Lenders typically require two to three years of self-employed income proof, such as tax returns, SA302 forms, or an accountant’s certificate.
roviding clear and comprehensive financial records can help demonstrate your ability to manage repayments.
Porting a mortgage with bad credit in Manchester is possible, but it can be more challenging.
Lenders will review your credit history as part of the application, and any recent defaults or missed payments might affect their decision.
If your credit issues are minor and your financial circumstances have stabilised, your current lender may still approve the port.
Speaking with our mortgage advisors in Manchester who are experienced in adverse credit cases can help you navigate the process.
Get in touch, and we’ll get you booked in for your free mortgage appointment with one of our mortgage advisors in Manchester today.
During which, we will look at whether porting your mortgage in Manchester is an option for you.
If you can port your mortgage to your new property, we can begin preparing the necessary documents.
If you cannot port your mortgage in Manchester, we will look at your other mortgage options.
Once we have everything ready, we can send of your porting application in Manchester.
The next step is to wait to hear back from your mortgage lender.
We don't just help you through your mortgage journey. We will also explore your insurance options with you to make sure that you and your family are covered.
Start your porting journey with us today!
When you reach out to us, whether you're a new customer or have used our service before, you'll be able to benefit from a free home movers review.
During this free assessment, our expert team will assess your goals and objectives to determine the best path forward for you on your porting a mortgage journey.
If you are unable to port your mortgage in Manchester, we will be able to search through 1000s of mortgages on your behalf to find a new product for your property.
We have access to both high street and specialist mortgage lenders, that we can search to find you the perfect mortgage product.
At Manchestermoneyman, we specialise in assisting individuals in Manchester with porting their mortgages. Our team has a wealth of experience in aiding home movers, whether they have intricate scenarios or straightforward cases.
We are fully prepared to handle all types of inquiries and provide tailored solutions to meet our customers' needs.
Our team of committed mortgage advisors in Manchester are here to guide you through your mortgage process,7 days a week!
You can reach out team, 7 days a week, providing flexibility and convenience to your mortgage journey.
If porting your mortgage in Manchester isn’t the best fit, remortgaging to a new lender might offer more competitive rates or flexible terms.
This process involves settling your current mortgage and securing a new deal, potentially helping you save on interest or adjust to your changing financial needs.
Rather than transferring your existing deal, you could apply for a completely new mortgage.
This approach might allow you to access better products, especially if your financial situation has improved or the market has shifted since you took out your original loan.
If your new property costs more than your current one, borrowing additional funds may be necessary.
This can often be arranged with your existing lender during the porting process, but the extra amount will likely be subject to current rates.
In some cases, repaying your mortgage early might be a simpler option.
While this could incur early repayment charges, it allows you to start fresh with a new deal or explore properties without the constraints of your current agreement.
A bridging loan can help cover the gap between selling your current property and completing the purchase of a new one.
While this is a short-term solution, it’s useful in fast-moving situations where immediate funds are required.
If moving to a new property but staying with the same lender, a product transfer in Manchester may be a simpler alternative to porting
This involves switching to a new mortgage product while keeping the same lender, often with fewer fees or checks.
If your move involves buying with a partner, exploring joint mortgage options could provide access to better rates or higher borrowing limits.
Lenders will assess both incomes to determine affordability, which could expand your options.
A flexible mortgage might suit those who anticipate changes in income or expenditure.
Features like overpayments, payment holidays, or underpayments provide greater control, making this option worth exploring during your property move.
If your new home costs less than your current property, downsizing allows you to release equity.
This can help pay down your mortgage, reduce monthly repayments, or provide extra funds for other purposes.
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Manchestermoneyman.com & Manchestermoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 9 Gallows Lane, Beverley, United Kingdom HU17 7FJ.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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Manchestermoneyman.com & Manchestermoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 9 Gallows Lane, Beverley, United Kingdom HU17 7FJ.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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