Moving home is more than just changing your address - it’s a whole financial journey. At Lumino Mortgages, we guide you through every step, whether you’re upsizing, downsizing, relocating, or simply refining your mortgage. With expert mortgage advice tailored to your circumstances, we help you make the most of your existing equity, manage any added borrowing, and secure the right mortgage solution for your next chapter.
Why Choose Lumino When Moving Home:
✔ Flexible Mortgage Solutions
Whether you want to transfer (“port”) your current mortgage deal, borrow more, or switch to a new lender, we’ll help you evaluate your best options.
✔ In-Depth Planning
We assess your current mortgage, existing equity, affordability, and future goals - so your new mortgage aligns with both your short term move and long-term ambitions.
✔ Cost Transparency
Moving house comes with many costs - early repayment charges, valuation, legal fees, and more. We clearly map these out and help you budget.
✔ Experienced Support
From arranging surveys and solicitors to coordinating with your current lender, our advisers support you every step of the way to ensure a smooth move.
Important information
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances. The fee is up to 1%, but a typical fee is £495.
Your Moving Home Mortgage Options Explained
1. Porting Your Mortgage
You may be able to keep your existing rate and mortgage deal by porting it to your new home. This is often a good choice if your current deal is favourable and you want to avoid early repayment charges.
2. Borrowing More
If you need additional funds to buy your next home (for example, for a larger property), we can advise on increasing your borrowing while assessing the best lender options.
3. Switching Lenders
It might be more cost-effective to move to a brand-new mortgage deal with a different lender - particularly if rates have changed since you first took out your mortgage.
4. Let to Buy / Investment Moves
If you’re considering turning your current home into a rental or want to leverage your property as an investment, we can explore let-to-buy mortgage structures and long-term portfolio planning.
5. Credit Score & Financial Health
A strong credit history helps you secure a better mortgage rate.
We offer advice on improving your credit and making your application more attractive to lenders.
Key Considerations When Moving
- Early Repayment Charges (ERCs): Check whether your current mortgage has any early repayment penalties. These can arise if you pay off your existing deal sooner than the fixed-term allows.
- Valuation & Survey Costs: Your new lender will typically require a mortgage valuation to assess the property’s worth. You may also want a more detailed survey to fully understand the condition of your new home.
- Legal & Conveyancing Fees: Solicitor or licensed conveyancer fees are an important cost to factor in when buying a new property.
- Stamp Duty / Land Transaction Tax: When moving home, you might face a different stamp duty liability than when you first bought - this depends on the value of the new property.
- Insurance Requirements: Your new property will usually require buildings insurance (and contents insurance if relevant).
- Equity in Your Current Home: Any equity in your existing property (the portion you’ve already paid off) can be used toward your new purchase, potentially reducing how much you need to borrow.
How Lumino Supports Your Move
Personal Mortgage Strategy Session
We’ll begin with a detailed conversation about your plans, current mortgage, and long-term goals - determining whether you should port your mortgage, borrow more, or switch.
Market Analysis & Comparison
Drawing on access to multiple lenders, we find the most competitive mortgage options tailored to your situation.
Coordination & Transaction Support
We liaise with your solicitor, surveyors, and underwriters so that all parts of the move align smoothly.
Post-Completion Advice
Once you’ve moved, we don’t just disappear - we help you evaluate your mortgage going forward, remortgage opportunities, and how to optimise your borrowing long term.
Common Questions
Porting is when you transfer your current mortgage deal to a new property. It lets you keep your existing interest rate (if your lender agrees), which can help avoid early repayment penalties.
Possibly - but we’ll assess your options. We’ll compare the cost of borrowing more with staying with your lender versus switching to a new deal.
Key costs include early repayment charges, valuation or survey fees, legal/conveyancing costs, stamp duty (if applicable), and removal fees.
If your mortgage deal allows porting, yes - but you’ll need to meet your lender’s affordability criteria, and the new property must be acceptable to them.
Ready to plan your move?
Get a free, no-obligation consultation with a Lumino adviser. We’ll help you understand your options, run affordability checks, and recommend the best mortgage strategy for your next home.