If the balance being ported is the same as the remaining balance on the existing mortgage, you won’t need to pay an Early Repayment Charge (ERC) or redemption fee as long as you complete the sale of your existing property and the purchase of your new property on the same day. However, if you’re planning on only taking part of your existing mortgage, you’ll need to pay an ERC on the balance that isn't being ported.
If there's a delay between the sale of your existing property and the purchase of your new one, you'll need to pay any ERC and redemption fees. We'll refund these when you complete the purchase of your new property.
Please note, if you need to change your application after the sale of your property has completed, please contact your Mortgage Consultant or Broker who can guide you through this process.
Product fees aren’t payable on products being ported, but you will need to pay any fees if you need to borrow more as part of your move. You’ll also need to pay a valuation fee.