Your Guide to Moving Home

The prospect of moving may feel like somewhat of a challenge, but if you plan ahead and take note of our expert advice, it can be a hassle-free and exciting experience.

If you’re moving home, you'll need to decide what to do with your current property - either remortgaging entirely, or porting your current mortgage. In this article, we’ll provide useful advice about the moving process, along with details on how to sell your current home, remortgage, and port your mortgage.

Selling your house

Choosing how to sell your current property is one of the most crucial parts of the moving process, so you should only start the search for your next home once you've decided on whether you plan on renting out or selling. We’ve compiled a list of actions you can take to get ready to sell your home:

Sort out your finances

This involves being fully aware of your income, any outstanding bills, and your mortgage. Establishing a precise budget and keeping track of your income and expenses can also be beneficial.

Prepare your house for selling

This entails cleaning, organising, and performing any required maintenance both inside and outside to create a great first impression for viewings. To entice more viewers to your home, you might also want to think about hiring a professional photographer to capture all the best sides of your property.

Find a reputable estate agent

When selling your house, a competent real estate agent can be helpful. They may assist you in marketing your home to potential buyers, pricing your property competitively, and negotiating a successful sale. A go-between can also help reduce some of the anxiety that comes with selling.

Have patience

It can take time to sell your house, so patience is key. If your house doesn't sell immediately, don't give up. To find the perfect buyer, you’ll need to keep up marketing your house and working closely with your estate agent. Remember that you can change up your strategy and try something new if it’s not working.

Remortgaging

To put it simply, remortgaging involves switching mortgage deals without having to sell your home. You can choose to change to a different lender, or stay with your current one.

Your mortgage is perhaps the largest financial commitment you’ll ever make, but you’re not required to have the same mortgage that you started with. Over time, your circumstances may change, allowing you to refinance.

To make sure you're obtaining a mortgage that suits your needs, it's important to regularly review your finances and consider all of your options - just like you did when you first applied.

Porting your mortgage

By porting your mortgage, you may be able to relocate your existing mortgage to a different property. However, although porting could be a flexible alternative, there’s no guarantee that your lender would permit you to do so.

Understanding that the portable deal is not the loan is crucial - you’ll still need to reapply. The loan-to-value (LTV) of your new home, any modifications to lending standards, and any changes to your personal circumstances after you took out your mortgage will all have an impact on your eligibility.

Bear in mind that your financial situation and income will be scrutinised, and your lender may reject your application if your circumstances have changed and you no longer meet the requirements for mortgage affordability.

Important information

You may have to pay an early repayment charge to your existing lender if you remortgage.

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.

Prepping for the big move

After taking care of all the admin involved with selling your current property and having an offer accepted on a new one, it's time to get ready to move. We’ve made a quick list of the steps you should take to guarantee a smooth transition:

Early planning is key

To keep organised, create a schedule and set a budget - and make sure you stick to both. To ensure you don't overlook anything crucial, create a checklist of things you’ll need to accomplish both before and after the move.

Clearing out

Before you start packing, use this time to go through your possessions and sell or donate the items you no longer need. Not only does this lighten your load, it also makes packing easier and lowers the cost of shipping.

Choosing a trustworthy moving company

Research a reliable moving company well in advance. You should look for positive testimonials from satisfied customers and enquire about insurance coverage. A reputable business will make sure the move is stress-free and professional, giving you peace of mind.

Alerting service providers

Notify banks, schools, utility companies, and other service providers of your change of address. This will guarantee a seamless transfer of your post, with no interruptions. To make sure you don't miss any important mail, think about using Royal Mail's redirection service.

Carefully packing

Pack ahead of time, arranging boxes by each individual room. To facilitate unpacking, clearly mark each box, placing heavier items at the bottom, and handling fragile objects with special care. Store vital goods and papers in a separate/easily accessible box. Additionally, it’s a good idea to have a box filled with necessities for your first night in your new home.

Letting the council know

Inform the local council of your house move, as they will be able to update your council tax information appropriately and avoid any problems with paperwork or billing.

Provide updates

Notify the appropriate authorities - including the DVLA, the voter registration list, and your insurance company - of your updated address. To make sure they can reach you quickly, let friends and relatives know your new address as well.

Gearing up for the big move

Important phone numbers should always be close to hand, in case you require assistance or have any last-minute questions. Try to arrange for child and pet care to minimise any disruptions during the move.

Recording the property’s condition

It’s a good idea to take pictures of your former property before you leave so you can have a physical record of its condition. In the event that any claims or conflicts develop in the future, these pictures may be useful. Prior to putting boxes and furnishings in the rooms, take pictures of your new home.

Speak to an adviser

If you're in the process of remortgaging or transferring your mortgage and you think you might need some help, reach out to us and speak with one of our advisers right away.