Get a mortgage comparison prior porting or remortgaging.
It is essential to get a mortgage comparison before committing to a mortgage product.
Whatever your reason for taking on a new mortgage, if you make a mistake it could be a very expensive one. At Deal Direct we have access to the entire mortgage market and are well placed to help you make the best choice.
If you are moving home, your current lender may allow you to take your mortgage with you, this is known as porting. However unless you are on the very best mortgage rate it makes sense to get a mortgage comparison because there may be a better deal from another lender.
Although porting can offer flexibility if your sale and purchase is not at the same time, for example if you need to take a short term rental, lenders terms are becoming more restrictive.
The Woolwich now only allow a thirty day period to redeem and restart a mortgage and Nationwide has reduced its period for porting from six to three months. It is also suggested that Nationwide will now only allow you to keep your mortgage when you move if this has been notified in advance.
If you are moving home restrictive porting terms make it even more important to see what alternatives are in the market.
If you are looking for a new mortgage or remortgaging Deal Direct can help you make a mortgage comparison.
We can help you find which type of product suits your individual situation and source the best deals in the market.
