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Mortgage porting

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Porting your existing Skipton mortgage to your new home.

If you’re moving house, you might be able to keep your current Skipton mortgage and transfer it to your new property. It’s called ‘porting’. But before you go ahead, you’ll want to consider if it’s the right thing for you to do, and if it’s available as part of your existing mortgage deal.

Porting might be right for you if:

  • You’re moving to another property
  • You want to keep the same mortgage deal you currently have.

When you port your mortgage you can keep the amount you're borrowing the same or, if you're eligible, you could borrow more. You could also reduce the size of your mortgage (Early Repayment Charges may apply).

Important information

Please note that in order to port your mortgage the purchase of your new property should happen within 6 months of the sale of your old one. Mortgage porting is subject to underwriting criteria, including affordability at the time of porting, the property itself and the purpose of the loan.

How to port a Skipton mortgage

Step 1

Not all mortgages are portable, for example, you can't port a residential mortgage to a Buy to Let property, and vice versa. So you’ll need to check if yours is by referring back to your original mortgage offer, calling us on 0345 607 9825 or via web chat. Whilst porting your mortgage may avoid the need for you to pay any Early Repayment Charges, there are cases where these may still need to be paid in part or in full. You should check your original mortgage offer to see if this is the case.

Step 2

Have an idea of how much you may need to borrow for your new home. It doesn't have to be the same amount as your existing mortgage, however, you should be aware that any additional borrowing would be on an interest rate from our range of available mortgage deals at the time (which could be higher than your existing rate) and is subject to eligibility and affordability. You could also reduce your mortgage but an Early Repayment Charge may be payable on the difference in borrowing.

Step 3

Just like a new mortgage application, we'll assess affordability, eligibility and the suitability of porting your mortgage to a new property with you during an advised mortgage appointment. You may also be able to make other changes at the same time as porting, such as amending the term, repayment type and/or from a joint to a single mortgage, or vice versa, subject to criteria. The mortgage adviser will also guide you through the porting process.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Next steps

Call us

Speak to a member of our mortgage team

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