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Michael’s Mortgage Porting Case Study
This case study highlights the benefits experienced by a UK expat who opted to port their mortgages, adapting them to meet their changing financial dynamics and home owning aspirations. With the support of adept and dedicated Expat Mortgage brokers from Liquid Expat Mortgages, our client efficiently navigated the porting process, securing an outcome that catered specifically to his individual needs.
The scenario.
SP, a UK expat residing in Germany. wanted to upgrade to a larger property upon returning to the UK. He already had an existing mortgage on his current property but needed to port it to finance the purchase of his new home. His initial lender wasn’t geared up to providing the service as he was residing outside the UK, and they couldn’t really support his application. SP was referred to Liquid Expat Mortgages via a mutual contact and as Expat Mortgage specialists we were able to assist SP in exploring his options with his lender.
The outcome.
We were able to ensure the terms remained favourable and our inhouse processes meant the application ran smoothly so that SP was able to successfully port his mortgage. By porting his mortgage, he avoided additional costs associated with early repayment and secured a competitive interest rate for his new property. This enabled him to upgrade to a larger home without incurring further major financial strain.
Mortgage Porting Solutions
As qualified and Experienced Mortgage Consultants we are available to help guide you through the entire process. We will be able to advise you based on your unique circumstances, including your income, credit score, and property type. We can help you find the right lender and mortgage product.
Remember, porting a mortgage can be convenient, but it’s crucial to consider all your options carefully, as a new mortgage deal may offer better terms or financial advantages. Weigh the pros and cons, crunch the numbers, and ensure that your decision aligns with your current financial situation and future goals.
For more personalised guidance, consider talking to a Expat Mortgage Broker at Liquid Expat Mortgages to make an informed choice regarding your mortgage during your move.
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