Moving home involves two big financial decisions running at once: what happens to your current mortgage, and how you fund the next property. Get the order of events right - valuation first, mortgage advice early, solicitor lined up before you accept an offer - and the rest of the move becomes far less stressful. This guide walks through the whole process in order, with the real costs to budget for.
Key takeaway: Speak to a mortgage broker before you list your home, not after you have found your next one. Knowing your borrowing power, whether porting or switching makes more sense, and what the move will cost in fees changes what price range you can genuinely shop in.
[[stats: £2,000-£2,500 = Typical legal fees on a straightforward purchase | 1-5% = Typical early repayment charge on a fixed deal | £400-£1,000 = Typical Level 2 survey cost]]
What does it cost to move house?
The purchase price is only part of the bill. A realistic moving budget covers:
- Stamp duty - payable on purchases above the thresholds, with rates stepping up through price bands
- Legal fees - around £2,000-£2,500 for a straightforward purchase, with a linked sale adding to the total
- Estate agent fees - typically a percentage of your sale price, agreed when you instruct the agent
- Survey costs - typically £400-£1,000 for a Level 2 survey, more for a Level 3 on older properties
- Early repayment charges - typically 1-5% of your mortgage balance if you leave a fixed deal early rather than porting it
- Removals, EPC and lender fees - smaller lines that still add up
Rather than guessing, put your own numbers into our cost of move calculator - it estimates stamp duty, legal and survey costs and totals the cash you would need to complete. For the survey decision itself, our guide on what survey to get when buying a house explains the levels and costs.
What happens to your mortgage when you move?
You have two main routes, and the right one depends on your current rate and how much you need to borrow:
[[table: Route | How it works | When it tends to suit ;; Port your mortgage | Your current deal transfers to the new property, usually avoiding early repayment charges, with any extra borrowing taken as a top-up product with the same lender | When your current rate is better than what the market offers today, and your lender will lend what you need on the new property ;; Switch to a new lender | You repay your existing mortgage, paying any early repayment charge, and take a whole new mortgage on the new home | When your current rate is higher than available market rates, so the saving outweighs the charge, or when your lender cannot lend enough]]
Porting is an application, not a right - your lender reassesses your income and the new property before agreeing. Our full guide to porting your mortgage covers the process, top-up borrowing and what happens if your new home costs less. If a switch looks likelier, our remortgage guide explains timing it around your current deal. A mortgage broker at Quanstrom Financial runs both calculations for you, so the choice is made on numbers rather than guesswork.
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The moving process, step by step
[[steps: Get your home valued|Ask a reputable local estate agent to value your home, and compare their evidence of recent sales nearby. This sets your equity and therefore your budget. ;; Speak to a mortgage broker|Before listing, confirm your borrowing power, compare porting against switching, and get an agreement in principle so you can offer with confidence. ;; Instruct an agent and prepare your home|First impressions move sale prices. Get the home market-ready before photos, and agree the agent's fee up front. ;; Line up a solicitor early|Choose a conveyancer with property experience and transparent fees before you accept an offer, so no time is lost once you do. ;; Agree your sale and start house hunting|With a buyer secured, confirm your final figures with your broker and view your next home knowing exactly what you can spend. ;; Offer, survey and mortgage application|Once your offer is accepted, submit the full mortgage application and arrange a survey while the legal work runs. ;; Exchange and complete|Contracts exchange, your completion date is fixed, and the removal van gets booked.]]
An agreement in principle is worth having before you view seriously - agents take offers more seriously with one in place, and it confirms your credit profile passes the lender's initial checks. Our credit score guide covers what those checks involve.
Selling and buying at the same time
Most movers exist in a chain: your buyer's timetable, your seller's timetable and everyone's mortgage timings all interlock. The two things that protect you are preparation and communication - paperwork ready before it is asked for, and a broker and solicitor who chase progress rather than wait for it. If a link in the chain breaks, options exist, from renegotiating dates to considering whether keeping your current home and letting it is realistic - our let-to-buy guide explains that route and its serious commitments.
How a mortgage broker at Quanstrom Financial can help
Quanstrom Financial is a whole-of-market mortgage broker. For home movers, that means one conversation covering your whole position: what your sale releases, whether porting or switching is cheaper over the deal period, what you may be able to borrow, and what the move truly costs. We then handle the application, liaise with your solicitor and agent, and keep the mortgage side moving through to completion, wherever in the UK you are moving.
Frequently asked questions
What happens to my mortgage when I move house?
Either your current deal moves with you by porting, usually avoiding early repayment charges, or you repay it and take a new mortgage with a different lender, and the better route depends on your current rate, any charges and how much you need to borrow.
Can I port my mortgage to a more expensive house?
Often, yes. Your existing balance transfers on your current deal and the extra borrowing is taken as a top-up product with the same lender, subject to a full affordability reassessment on the whole amount.
Should I sell my house before buying a new one?
Agreeing your sale first is the stronger position - you know your exact equity, and sellers treat you as a proceedable buyer. Buying first is possible but usually needs bridging arrangements or significant savings.
How much does it cost to move house in the UK?
Beyond your deposit, budget for stamp duty, legal fees of around £2,000-£2,500 on the purchase, estate agent fees on your sale, a survey, removals and possibly an early repayment charge, and use a cost of move calculator to total your own figures.
Can I move home before my fixed rate ends?
Yes. Porting typically lets you take your fixed deal to the new property without an early repayment charge, or you can pay the charge, typically 1-5% of the balance, and switch if a better overall deal justifies it.
Do I need a new agreement in principle when moving?
Yes, it is sensible. Your circumstances and the market have both changed since your last mortgage, and a current agreement in principle confirms your budget and strengthens your offers.
How long does moving house take?
A straightforward sale and purchase typically completes in around 2 to 4 months from agreeing the sale, though chains, legal complications and survey findings can extend that.
What if my mortgage lender will not lend enough for my next home?
That is one of the most common reasons movers switch lenders rather than port, since another lender may assess your income more generously - a whole-of-market comparison shows quickly whether one will.
Do I need life insurance to get a mortgage?
No, life insurance is not a legal requirement and lenders do not generally insist on it, although buildings insurance is required. Quanstrom Financial strongly recommends life cover to anyone whose family depends on their income, because a mortgage becomes a debt of your estate if the worst happens. Our guide on whether you need life insurance for a mortgage explains what is genuinely required and what is worth considering.
Written by Toby Quanstrom CeMAP, Director at Quanstrom Financial, a whole-of-market mortgage broker based in Eastbourne, East Sussex.
Your home may be repossessed if you do not keep up repayments on your mortgage.
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