Home Mover Mortgage Advice
Moving home is one of the most significant financial decisions you'll make - and if you already own a property, there's a lot more to think about than the first time around. Equity, chains, porting your existing mortgage, timing your sale and purchase -- it can feel like a lot to juggle.
At Aspect Mortgages, we work with home movers every day. We'll assess your current mortgage, explore all of your options across the whole market, and make sure the move goes as smoothly as possible -- financially and practically.
We're an independent, FCA-regulated mortgage broker based in Chorley, Lancashire, advising home movers across the UK - by phone, video call, or in person.
Whole of market access We search thousands of mortgage products from lenders across the market — not just a handful from one bank. That means a better chance of finding the right deal whether you're porting, remortgaging, or borrowing more.
Plain-English advice No jargon. We'll walk you through your options clearly - whether that's porting your existing deal, taking a new mortgage, or borrowing more on the move, and make sure you understand exactly what you're signing up for.
One adviser, start to finish You'll deal with the same adviser throughout your entire move. They'll know your case, your timelines, and your circumstances - and they'll be on hand whenever you need them.
Everything in one place, securely Our secure client portal lets you share documents, view your credit file, and track your case at any time from any device. It's a simpler, faster way to keep things moving when you've got a sale and a purchase on the go at the same time.
The Home Mover Journey — Step by Step
1. Review your current mortgage and equity
Before anything else, we'll look at your current mortgage -- how much is outstanding, whether your deal is portable, and whether any early repayment charges apply. We'll also work out your usable equity so you know exactly where you stand.
2. Work out your budget for the new property
We'll combine your equity, any additional deposit, and your borrowing capacity to give you a clear maximum for your next purchase. This is the number that drives everything else.
3. Get a mortgage in principle (AIP)
An Agreement in Principle shows estate agents you're a serious, financially ready buyer. We can arrange one quickly so you're not held up when you find the right property.
4. Make an offer
Once you've found the right property and your offer is accepted, the formal mortgage process begins. If you're in a chain, we'll keep a close eye on timings at every stage.
5. Full mortgage application
We research the whole market to find the right deal -- whether that's porting your existing mortgage, moving to a new lender, or a combination of both. We'll submit your application, manage the paperwork, and handle any lender queries on your behalf.
6. Survey and valuation
The lender will arrange a valuation of the new property. You may also want to commission an independent survey to check its condition -- particularly useful if the property is older or has had visible work done.
7. Exchange of contracts
Once searches and legal work are complete, you exchange contracts on both properties simultaneously (if you're in a chain). At this point the sale and purchase become legally binding.
8. Completion
Funds are transferred, keys are exchanged, and you're in your new home. Your old mortgage is repaid from the sale proceeds, and your new one begins.
Why Choose Aspect Mortgages?
Independent and FCA-regulated - we work for you, not for the lender
Whole of market - access to thousands of mortgage products from across the market
Based in Chorley, serving clients nationwide - We advise home movers across the UK from our Chorley base - by phone, video call, or in person.
The best of technology and people - We use cutting-edge mortgage technology to search the whole market and manage your case efficiently — but you'll always deal with a real person who knows your situation, not a chatbot or automated system.
No jargon - everything explained clearly, at your pace
Fixed, transparent fee - A fixed £495, only payable when your mortgage offer is issued. No percentage-based charges, no surprises.
What Home Movers Say About Aspect Mortgages
With over 400 five-star reviews across Google and Facebook, we're proud to be one of Lancashire's most trusted independent mortgage brokers. Here's what some of our first home mover clients have to say.
Frequently Asked Questions
Should I port my existing mortgage or take a new one?
It depends on your current deal, your lender's porting policy, and what's available in the market. If you're on a competitive fixed rate with time left to run, porting may save you money -- but it's not always possible if your new property doesn't meet the lender's criteria, or if you need to borrow significantly more. We'll run the numbers on both options and give you a clear recommendation.
Can I borrow more when I move?
Yes - most home movers need to borrow more as they move to a larger or more expensive property. This will go through a full affordability assessment with the lender. We'll tell you the maximum you can borrow before you start viewing properties so you know exactly what's within reach.
What are early repayment charges and will I have to pay them?
If you're on a fixed rate deal that hasn't yet ended, your lender may charge a percentage of your outstanding balance to exit early. These can be significant, sometimes thousands of pounds, so it's essential to factor them in before you commit to moving. We'll check your existing deal and work this into your overall cost comparison.
What happens if my chain falls through?
Chain collapses are frustrating, but they're not always the end of the road. Your mortgage in principle will remain valid for a period, and in many cases your mortgage application can be transferred to a different property. We'll advise you on your options quickly so you can make an informed decision about next steps.
How does the equity in my current home work?
Equity is the difference between what your property is worth and what you owe on your mortgage. When you sell, this equity is released and can be used as a deposit on your next purchase. If your property has increased in value since you bought it, you may have more to work with than you think. We'll calculate this clearly as part of our initial conversation.
Can I get a mortgage if I'm self-employed and moving home?
Yes - lenders will typically want two years of accounts or tax returns, though some will consider one year. As whole-of-market brokers, we have access to lenders who are flexible with self-employed income and understand varied income structures.
Can I get mortgage advice remotely?
Yes - many of our clients deal with us entirely by phone or video call. There's no need to visit us in person, though you're always welcome to come and see us at our Chorley offices.
What costs should I budget for when moving home?
Beyond the deposit and your existing mortgage balance, typical costs include:
• Stamp Duty Land Tax (SDLT) - rates vary by purchase price and whether it's your only residential property
• Solicitor/conveyancing fees - typically £2,000-£3,000 for a sale and purchase combined
• Estate agent fees -- usually 1-3% of your sale price
• Survey on the new property -- £400-£1,500 depending on type
• Removal costs
• Any early repayment charges on your existing mortgage
• Mortgage arrangement/product fees -- varies by deal
• Buildings insurance on the new property
We'll give you a full picture of costs upfront -- no surprises.
What if I want to downsize?
Downsizing often means releasing a significant amount of equity, which can either reduce your mortgage dramatically or eliminate it entirely. Some people moving to a lower-value property don't need a mortgage at all. We'll help you work through the numbers and ensure the transaction is structured in the most efficient way for your circumstances.
What about protection when I move?
If your mortgage is changing -- in size, lender, or term -- it's worth reviewing your protection at the same time. Your existing life insurance may not be aligned to your new mortgage amount, and policies taken out years ago may not reflect your current circumstances.
We can help you look at:
• Life insurance -- pays out a lump sum to clear your mortgage if you die
• Critical illness cover -- pays out on diagnosis of a serious condition
• Income protection -- replaces a portion of your income if you're unable to work
This isn't a sales pitch -- it's a conversation. We'll explain the options simply and only recommend cover that genuinely makes sense for your situation. Take a look at our dedicated protection insurance page for more info.
Ready to Find Out If Equity Release Is Right for You?
Taking the first step can feel daunting, but it doesn't have to be. Our friendly, independent advisers are here to listen, answer your questions and explain your options clearly with no pressure and no jargon. We can meet you at home, at our Chorley office, or via video call, whichever suits you best. Get in touch today for a no-obligation conversation.
Fees
There will be a fee for mortgage advice. The precise amount will depend upon your circumstances but we estimate that it will be £495 for a residential/buy to let mortgage or £1495 for an equity release/retirement mortgage.
Important Information
Aspect Mortgages Limited is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register (https://register.fca.org.uk/s/) under FCA reference 305352. The FCA do not regulate Business Buy to Let Mortgages or Estate Planning.
As independent advisers we have access to the whole market, except for deals that you can only obtain by going direct to a lender. Registered in England and Wales No: 051013801. 16 St Thomas' Road, Chorley, PR7 1HR.
Your home may be repossessed if you do not keep up repayments on your mortgage.
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