Portable mortgages...

If you decide to move home it is important to know from the outset whether you have early repayment charges as lenders will only charge penalties if you change lender, or reduce the loan size, and not (with portable mortgages) if you are actually moving to a new home. This can be an important factor to take into consideration if, for example, you are considering whether or not to go for a long term fixed rate: you may not be sure whether you wish to move or not during the initial fixed period, but as long as you have a portable mortgage you will be keeping this option open.

Portability can still be an advantage even when your mortgage product has no redemption penalties at all. For example, you could have secured a particularly favourable deal originally and the market could subsequently have changed, leaving no comparable deals: it would obviously make sense in this situation to keep the product that you have, rather than switching when you move house.

Whichever product you choose we will always make you aware of all its features, and ensure that these features match your situation and needs. You will be informed in writing of every detail, so that if, for example, you decide to move after a few years, you can refer back to the information we have given you.