All Mortgages

Yorkshire Building Society 2 year discount

Subsequent rate (SVR)
4.74% variable
Initial rate
0.89% until 30 Nov 2019 (3.85% discount on SVR)
Comparison Cost
4.2% APRC

Discounted SVR mortgage deals have their interest rate set at a specified ‘discount’ level below their Standard Variable Rate (currently 4.74%) for a specific initial deal period (typically 2 years). If they offer a discount of 3% on a mortgage deal for 2 years, you would pay a rate of 1.74% (4.74% SVR – 3% discount). If the SVR rose to 4.99%, the interest rate payable would increase to 1.99% (the new SVR of 4.99% - 3% discount). If the SVR reduced to 4.49%, the interest rate payable would fall to 1.49% (4.49% SVR - 3% discount).

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HSBC 2 year tracker

Subsequent rate (SVR)
3.69% variable
Initial rate
0.99% base rate tracker for 2 years
Comparison Cost
3.3% APRC

Tracker rate: This means that the initial interest rate you pay is variable and is an agreed percentage above the Bank of England's Base rate. As the base rate rises and falls, your interest rate will track these changes, and this will affect your monthly payments accordingly. You can apply for this mortgage: If you are an existing HSBC Customer or not.

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Barclays 2 year tracker

Subsequent rate (SVR)
3.74% variable
Initial rate
0.99% base rate tracker for 2 years
Comparison Cost
3.4% APRC

A capital and interest mortgage of £161,000 payable over 25 years on their variable tracker rate of 1.29% above the Barclays Bank Base Rate (currently 0.25%) for 2 years, and then a variable tracker rate of 3.49% above the Barclays Bank Base Rate for the remaining term would require 24 monthly payments of £646.93 and 276 monthly payments of £812.62. The total amount payable would be £240,923.44 made up of the loan amount plus interest and £999 (product fee), £80 (final repayment charge), £35 (completion fee).

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What happens to my mortgage when I move house? 

Relationship changes, new additions to the family or a new job are just some of the reasons people choose to move house. Other key reasons include wanting to upscale or downsize depending on your circumstances. One thing to keep at the forefront of your mind when considering a move is what will happen to your existing mortgage. 

Fortunately, most mortgages are portable which means you can transfer it from the property that you originally borrowed against to the property that you want to move to. 

To find out if yours in transferable, you should check the terms and conditions of your existing mortgage or ask your lender. 

If your mortgage is portable, you will still need to reapply for the mortgage against the new property, and you may find you need to borrow more to secure it. The lender will check your finances and credit history to decide whether to accept your application. 

You may struggle to transfer the mortgage if the lender’s conditions have got stricter or you earn less than when you originally took out your mortgage. Any missed repayments or other borrowings may also prevent you from being able to port your mortgage. 

You may need to pay fees for moving your mortgage and for the new property to be valued.

FAQs about moving home mortgages

What is a mortgage?

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If I want to transfer my mortgage, do I have to use the same provider?

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Will I need to pay an exit fee?

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Will my repayments change?

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What happens if my income has changed or I’ve gone self-employed?

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Will I need to provide a deposit when I move?

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What can I do if I’m not offered a new mortgage?

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What happens if I fail to pay my mortgage off?

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