Step 1: Should you move home?


Most people look to buy their new home at the same time as they sell their existing one. Searching for a new home at the same time as trying to sell your existing home can be stressful however, and you could think about doing things in a different order.

You could consider selling first. This might put you in a stronger position when it comes to buying, but you could find that you have to rent for a while.

If you do rent you also need to consider the hassle of moving twice and paying to move twice.

If you don’t want to rent you could accept an offer for your existing home on the condition that you find another home to move into, but this option could take some negotiation and you may also find that the house prices go up as you wait.

Alternatively you could consider buying first. This could put more pressure on you to accept any offer on selling your home.

Financial considerations

How much is your home worth? Estate agents will usually give you a free valuation and an estimate of any fees or costs they charge. As these vary it’s worth shopping around for the best quote. Do you have any equity in your home which you could use? (Equity is the amount of money your home is worth over and above the amount you owe on your mortgage.) For example, if your home is worth £200,000 and your mortgage is £150,000, then you have £50,000 of equity.

If you are moving to a property worth more than your current home you will either need to find more money upfront to secure a good mortgage deal, or borrow more.

You’ll also need to think through the ongoing costs of the new property – will they be substantially more than you’re currently paying, and can you afford them?

If you need to get a new mortgage, will you be charged an Early Repayment Charge to get out of your existing mortgage? Your current lender will be able to advise you.

If you’re moving because you need more space, have you considered extending your home instead? You may find that this gives you what you need without having to uproot.

Can you keep the same mortgage?

If you’re an existing Santander mortgage customer you have a couple of options available to you:


Take your current deal with you to your new home


You can apply to take your current deal with you to your new home. Sometimes known as ‘porting’, this could save you money if your interest rate is lower than other mortgages available. It also means you won’t have to pay an Early Repayment Charge if you transfer the same amount. If you do want to borrow more, you can take a new deal from our competitive range.


Choose a new deal


Choose a new deal for the total borrowing from our range of competitive deals.

  • You could save money if your existing rate is higher than the rates we now offer.
  • You won’t pay an Early Repayment Charge if you have less than six months left on your existing deal when you apply for a new mortgage for at least the same amount. In future we may withdraw this offer.
  • If you have more than six months left on your existing deal when you apply for a new mortgage, you’ll need to pay an Early Repayment Charge if one applies to your existing deal.

A new mortgage on a different property will be subject to status and our lending criteria.

Important Information


All applications are subject to status and our lending criteria. This means that the amount we’ll lend you will depend on your individual circumstances, the type of property and the amount you borrow. For example, we may require a bigger deposit if you’re buying a flat or new build property.