Next Time Buyers 

Next Home Mortgage

If you are already on the property ladder and are looking to get a mortgage on your new home, you have plenty of options. You could end your current mortgage and begin with an entirely new one, this could help reduce your monthly costs, or you could try and benefit from a completely different type of mortgage altogether.

One of your possible options is simply moving your existing mortgage onto your new property. This is also known as ‘porting’. Essentially, it’s continuing to repay your current mortgage upon buying a new property, and after this resuming the same mortgage for your new property.

However, if you were to move your mortgage to a more expensive property you may have to take out an additional loan which could have a higher interest rate. And if you were to move to a cheaper property, you may be open to early repayment charges. These are just some of the many possible options that are available to you. To avoid any uncertainty and to get the right deal for your new property, call to speak to one of our experienced mortgage advisors today. 

Should I Get a New Mortgage?

When you’re looking at purchasing a new property you may be considering a new mortgage as well. However, depending on your specific situation, it may be cheaper to ‘port’ your mortgage (as previously mentioned).

When you should consider porting your mortgage:

  • If you are happy with the current deal you have with your mortgage. If you are still fairly early on in your existing mortgage, you could be able to completely move it to the new property.
  • If you haven’t finished repaying your current mortgage and then move to a new one the mortgage lender may charge you a certain percentage of your existing mortgage. This issue is avoided when you ‘port’ a mortgage.

When you should consider getting a new mortgage: 

  • If you simply want a different type of mortgage altogether.
  • If you want to change to a mortgage that has a better deal for you, such as one with lower interest rates.

Home Buyers

If you have already found your next home or are just testing the water, Mortgages:MK are here to help.

If you’re a buyer local to Milton Keynes, we can guide you to the right mortgage deal, outline all of the costs involved and help you through the moving process.

Before you start hunting for a house or flat it is recommended that you obtain an Agreement in Principle. This effectively means a lender has pre-approved your mortgage application (subject to valuation, documentation and underwriting).

  • An agreement in principle ensures you can be confident that you will be able to obtain mortgage finance before looking for a new home.
  • If there are issues they can hopefully be resolved beforehand. For example, many people find that they have inaccurate entries on their credit records and these can take time to correct.
  • You’ll be in a better negotiating position as it proves to vendors, estate agents or developers that you have your finances managed.

When you’ve applied for your mortgage will we be working hard to push this through and providing you with regular updates, we liaise with the other parties in the transaction to keep them up to speed on progress.

Second time buyer? Contact us below for more information

Privacy Policy


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 0.3% of the amount borrowed.

Mortgages MK is a trading name of Astons Financial Services LLP which is an appointed representative Mortgage Advice Bureau Limited and Mortgage Advice Bureau (Derby) Limited who are authorised and regulated by the Financial Conduct Authority.

Astons Financial Services LLP. Registered Office: 26 St John Street, Newport Pagnell, Buckinghamshire MK16 8HJ. Registered in England No: OC361518

Mortgage Calculators