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The length of time it takes to move home can be affected by so many different things!

A typically straightforward sale and purchase can take anywhere between 3-4 months. This could take longer if you’re in a large chain of house purchases, or if one person decides to withdraw from a purchase in your chain – you could all be delayed.

In order to help keep your part of the chain running smoothly, it’s really important before you get looking at new houses, you have everything in order ready to make an offer. It’s also super important to choose a reliable Estate Agent that will help find you a buyer in double quick time and they will give you hints and tips on how to sell your home quickly.

This is a question we tick off right at the start of the process with our clients. A Mortgage Offer is the lender granting you the funds towards the purchase, but a lot, if not all, do have a specific period of time that this will last for. Typically, with high-street lenders this can last for around 6 months on a standard home purchase. If you’re buying a new building and the development takes a little longer, some lenders will actually allow your mortgage offer up to 9 and in some cases 12-months before it runs out.

So it gives you plenty of time from the moment a mortgage offer is approved to make sure the rest of the home-buying chain can get sorted too.

Before you start looking into your next home purchase, it’s important to understand your existing mortgage contract, the potential equity your property has and all the future mortgage considerations. By working with an advisor they’ll help you understand if there are any Early Repayment Charges on your current mortgage, if it’s better to port your existing deal and top-up your mortgage onto the new property, if it’s better to take a new mortgage out with a new lender, or to just make some overall changes.

By working with a local mortgage advisor it’ll give you peace of mind and confidence in the next steps you’re about to take.

Yes. In fact, a lot of people do.

The reason this works for some people is if you have recently just taken out a new mortgage product – it might have some hefty Early repayment Charges. You can avoid these if you take your current mortgage with you and then top-up (if needed!)

In some cases though, current interest rates might mean you’ll get a better deal – so it’s worth considering both options and seeing which is the most cost-effective for you.

In short – no you don’t, however, when moving house we suggest looking at both your existing deal and a new deal with a new lender. You can compare the two and work out which is better for YOU.

Adding up the fees associated with taking out a new mortgage, such as a product fee, and then comparing it to the cost of leaving your existing mortgage can help you identify which is the better option. 

You may find the additional fees cost less than the extra interest you would pay with your current mortgage. Equally, you may find it is much more cost effective to stay with your current deal.