Moving home

When you move home, you can choose to keep your existing mortgage deal and transfer it to your new property. This is known as Porting, and most of our mortgage deals are portable. To port your mortgage to a new property, you’ll need to set up an appointment with one of our advisors to go through a new application process.

You can:


About your appointment

Your appointment will take up to half an hour and you will need

  • Details of your income with pay slips or if you're self-employed, two years of accounts
  • Details of any outstanding financial commitments, e.g. credit cards or car finance

An advisor will assess your information and the new property to make sure you meet our lending criteria and that transferring your existing mortgage product is the best option for you.


Porting FAQs

Can I borrow more when I port my mortgage?

If you need a bigger mortgage then you can top up your current mortgage and we will help you find the most suitable deal. 

We’ll ask you to choose another mortgage product from the product range we have available at the time. This will cover the additional borrowing amount, and the terms of the new product will only apply only to the additional amount you borrow.

Borrowing more is subject to acceptance.

Can I reduce my mortgage amount if I'm downsizing?

If you’re looking to reduce the mortgage amount when you port it, an early repayment charge may apply to the remaining balance of your existing mortgage deal. Information about early repayment charges on your current deal can be found in the ‘Early Repayments’ section of your offer document. For more information have a look at our portability rules.

I have a flexible mortgage; can I port this to my new home?

If you have a flexible mortgage only the original (Primary) account can be transferred. Any additional borrowing or accounts that you have taken out must be fully paid off and cannot be transferred to your new property.

What are the rules around porting my mortgage?

  • You can only transfer the mortgage until the date the interest rate applicable to your existing mortgage product (e.g. fixed or discounted rate) ends. The interest rate that you are transferring to your new home will only apply for the remaining period which would have applied to your existing mortgage account.

  • You must redeem (pay off) your existing mortgage account and open a new mortgage account with Principality. This new mortgage account must be on the same terms (including the same interest rate) as your existing mortgage account.

  • If you redeem your existing mortgage within the final 90 days of the term applicable to your existing mortgage product, the Early Repayment Charge (ERC) applicable will be waived providing you select a new product from the Principality’s new product range for the new property. This is on the condition that you pay off your existing mortgage and complete on the new mortgage at the same time.

For a full breakdown, take a look at our portability rules.


Will I receive incentives from my original offer when I port my mortgage?

Any incentives you received as part of your original mortgage offer, like a free valuation, cash back or free legal advice won’t apply when you port your mortgage to your new home.

Are there any circumstances when I can't port my mortgage?

You won’t be eligible to port your existing mortgage to a new property if:

  • The new property is outside of England and Wales
  • You do not meet Principality’s lending criteria when you apply to port your mortgage
  • Transferring your mortgage is not the best option available to you
  • The new property does not meet Principality’s lending criteria
  • You are looking to transfer the mortgage onto a property that you already own
  • You choose not to transfer your mortgage on its existing terms