Port vs Remortgage Cost Comparison
Frequently Asked Questions
Can I port my mortgage to a new property in the UK?
Yes, most fixed-rate and many tracker mortgages in the UK include a porting clause. Porting means you transfer your existing mortgage deal to a new property. Your lender will still carry out a full affordability assessment on the new purchase, so approval is not guaranteed even if your current mortgage is portable. Check your mortgage offer document or contact your lender to confirm portability before agreeing on a purchase.
What is a mortgage porting fee?
A porting fee (sometimes called a porting arrangement fee) is charged by some lenders to process the transfer of your mortgage to a new property. Fees vary widely — some lenders charge nothing, while others charge up to £1,500 or more. The fee is typically lower than a full remortgage arrangement fee. Always compare the total cost including fees, not just the monthly payment, when deciding whether to port or remortgage.
What if I need to borrow more than my current mortgage balance?
If the new property costs more than your existing mortgage balance, you will need additional borrowing. Most lenders offer this as a top-up loan alongside the ported mortgage. The top-up is typically at a new product rate, which may be higher than your existing deal. The result is two separate mortgage parts: your ported portion at the old rate and the additional borrowing at the new rate. This calculator blends both into a combined monthly payment.
Is porting always possible with a UK mortgage?
No. Porting can be refused if: you fail the lender’s updated affordability assessment; the new property does not meet the lender’s lending criteria (e.g. non-standard construction, leasehold with short lease); your circumstances have changed since the original application; or you need to exchange contracts before completing the sale of your current home and the lender does not allow a simultaneous exchange. Some lenders also charge an early repayment charge if the port does not complete within a specified window.
What happens to my mortgage if porting is rejected?
If your port application is declined, you will generally need to redeem (pay off) your existing mortgage. If you are within a fixed-rate period, this usually triggers an early repayment charge (ERC) which can be 1–5% of the outstanding balance. You would then need to take out a new mortgage with a different lender. In this scenario, remortgaging costs can be significantly higher, so it is worth knowing your ERC before deciding whether to move property.