Find the best mortgage for moving home

When you move home, you can either port your existing mortgage or take out a new deal. Either way, the lender you choose affects your monthly payments, fees, and flexibility. The UK mortgage market has over 90 active lenders, and the best option depends on your circumstances.

High street banks tend to suit straightforward applications: employed borrowers with a 10%+ deposit and clean credit history. If your situation involves self-employment, complex income, or a non-standard property, specialist lenders and building societies may offer better terms.

Key lender categories for home movers:

• High street banks: Barclays, NatWest, Halifax, HSBC, Santander, Lloyds. Competitive rates for standard applications, widely available, straightforward online processes
• Building societies: Nationwide, Yorkshire, Coventry, Leeds. Often more flexible on income assessment, manual underwriting available, competitive rates
• Specialist lenders: Kensington, Aldermore, Pepper Money, Precise. Better options for self-employed, contract workers, or complex income
• Challenger banks: Atom Bank, Monzo, Virgin Money. Often competitive on rate, with streamlined digital applications

Mortgage rates for home movers vary significantly depending on your loan-to-value ratio, fixed term length, and the lender you choose. As of July 2026, the Bank of England base rate sits at 3.75%, and competitive fixed rates for home movers start from around 3.9% for 5-year deals at 60% LTV.

Your deposit size has the biggest impact on the rate you can access. Moving from 90% LTV to 75% LTV can reduce your rate by 0.3% to 0.7%, saving thousands over the mortgage term. If you have significant equity in your current property, this works in your favour when upsizing to a larger home.

These rates are indicative and change frequently. A whole-of-market broker can access live rates from all active lenders and identify deals that match your specific situation. Some lenders also offer exclusive broker-only products that aren't available if you apply directly. Use a moving home mortgage calculator to estimate your monthly payments based on different rates and terms.

The cheapest headline rate doesn't always mean the best deal. When comparing lenders for your move, consider the total cost over the deal period, including arrangement fees, valuation charges, and early repayment penalties.

Key factors to compare:

• Total cost of the deal: Add the arrangement fee to total interest over the fixed period. A slightly higher rate with no fee can work out cheaper than a low rate with a £999 product fee
• Overpayment allowance: Most lenders allow 10% overpayment per year without penalty, but some offer more. If you plan to pay your mortgage off early, this matters
• Portability: If you might move again within the fixed term, check whether the lender allows porting your mortgage to a new property
• Early repayment charges: Typically 1-5% of the balance, reducing each year. Check the exact schedule before committing
• Speed of processing: Some lenders complete applications in 2-3 weeks, others take 6-8 weeks. If your sale chain is time-sensitive, speed matters
• Income assessment: Self-employed borrowers and those with complex income should check how lenders calculate affordability, as methods vary widely

Porting means transferring your existing mortgage deal to a new property. If you are on a competitive fixed rate, porting can save you from paying early repayment charges (ERCs) and keep your current rate. Most major lenders allow porting, but approval is not guaranteed. Your lender will reassess your affordability as though it were a new application.

Porting works well when your current rate is lower than available new deals, when your new property is a similar or lower value, and when your financial circumstances haven't changed. It works less well if you need to borrow significantly more, as you may end up with a split mortgage at two different rates.

If you need additional borrowing beyond your current mortgage balance, most lenders offer a "top-up" at a new rate alongside your ported deal. This means you would have two products running in parallel, potentially with different end dates. A broker can calculate whether porting plus a top-up is cheaper than breaking your current deal and taking a completely new mortgage.

Read the full guide on porting your mortgage when moving home to understand whether this option suits your situation.

Beyond the interest rate, several fees affect the total cost of your moving home mortgage. Some lenders offer fee-free deals at a slightly higher rate, which can work out cheaper overall, especially on smaller loan amounts.

Budget for stamp duty on your new property as well. If you are selling one main residence and buying another, you pay standard rates rather than the higher additional property surcharge. For properties up to £250,000, there is no stamp duty to pay.

On a £300,000 mortgage, a £999 product fee represents 0.33% of the loan. If the fee-free alternative is only 0.1% higher in rate, you would pay approximately £300 more per year in interest but avoid the £999 fee, making the fee-free option cheaper over a typical 2-year fix. A broker can run these calculations across every available deal to identify the lowest total cost for your situation.