Moving home mortgages

Whether porting your mortgage is a good idea depends on your circumstances.

Porting means paying off your existing mortgage and taking out a new mortgage on your new property while keeping the same interest rate and product features.

It's important to understand that you're not transferring the mortgage loan itself. You're transferring the mortgage product or deal. You'll still need to apply for a new mortgage and meet our current lending criteria.

Any additional lending will be taken on as a new deal.

Can I port my mortgage?

To find out whether you can port your Nationwide mortgage, check your latest mortgage offer letter or call us.

Being able to port your mortgage is not guaranteed. Changes in your circumstances could mean you're no longer eligible. For example:

• the loan to value (LTV) ratio of your new property
• you no longer meet our lending criteria
• your finances or household income have changed.

Porting could be a good idea if:

• you're still within your mortgage deal and would have to pay an Early Repayment Charge (ERC) to leave it
• your current interest rate is lower than rates available today
• you're happy with the features of your existing deal.

Alternatively a new mortgage deal could be a better option if:

• no ERC applies to your current mortgage
• a new mortgage deal could offer better value
• you want a mortgage product that better suits your current needs.

Find out more about porting

Repaying your mortgage early or paying over your overpayment allowance are some of the most common reasons an Early Repayment Charge (ERC) may apply.

You'll find details of any ERC payable in your latest mortgage offer. Your annual mortgage statement will show any applicable ERCs up to the date it is sent. You can also find your most up to date ERC and redemption figure by logging in to Mortgage Manager.

Find out about Early Repayment Charges (ERCs)

Existing Nationwide mortgage customers can view an estimated property value by logging in to Mortgage Manager.

If you’re new to Nationwide find out how much your property could be worth, and how its value has changed over time.

Get an idea of your home's value

If you’re planning on letting your existing property with a Nationwide mortgage, you'll need to get permission from us first. It’s also worth noting that if you’re on a fixed rate we’ll add 0.5% to your current interest rate while you’re letting your property.

Remember, that once your property is let, you cannot:

• switch your mortgage deal
• take additional borrowing
• complete a term change
• add or remove a borrower
• change your repayment method.

Unless you are a member of the British Armed Forces or have a critical illness.

Find out how to get consent to let your property

England and Northern Ireland.

Stamp Duty is a tax you pay when buying a home in England and Northern Ireland.

You don’t pay one rate on the whole price - you only pay each tax rate on the part of the property price that falls within that band:

• Up to £125,000 = 0%
• £125,001 to £250,000 2%
• £250,001 to £925,000 5%
• £925,001 to £1.5 million 10%
• above £1.5 million 12%

Scotland

Land and Buildings Transaction Tax (LBTT) is what you pay when you’re buying a home in Scotland.

You don’t pay one rate on the whole price - you only pay each tax rate on the part of the property price that falls within that band:

• Up to £145,000 0%
• £145,001 to £250,000 2% 
• £250,001 to £325,000 5% 
• £325,001 to £750,000 10%
• Over £750,000 12%

Wales

Land Transaction Tax is what you pay when you buy a home in Wales.

You don’t pay one rate on the whole price - you only pay each tax rate on the part of the property price that falls within that band:

• Up to £225,000 0%
• £225,001 and £400,000 6%
• £400,001 and £750,000 7.5%
• £750,001 and £1.5 million 10%
• above £1.5 million 12%

All of the rates quoted above assume you only own one property. You can find how much you might pay in SDLT, LBTT, and LTT by using this handy Stamp Duty calculator (opens in a new window).

You’ll normally instruct a solicitor to act on your behalf in connection with your sale and purchase. You may be required to pay legal fees and costs as part of their work on your behalf. Solicitors are also known as conveyancers.

Home Surveys check the condition of the home before you buy it. They'll look for defects and repair work. They can give you a good idea of any further costs for repairs you might have to pay when buying your property.

Find out more about home surveys.

This is charged on some mortgages as part of the deal. It can be paid up-front or added to the total mortgage amount. If you add it to your mortgage, you’ll pay interest on it at the same rate as the rest of your borrowing.

There are likely to be costs involved when moving home. This could be the cost of hiring a professional moving company, or hiring a van to move yourself, and buying packing materials.