Britannia

If you want to move house and have a Britannia mortgage that’s still in the fixed rate*, discounted* or capped* period, you can choose to transfer your mortgage to the new property. This is called porting*.

Any Early Repayment Charges* (ERCs) that apply to your existing mortgage will be refunded, providing you complete a subsequent Britannia mortgage for the same amount or more within 6 months of redemption*. If completion* of the new mortgage and redemption of the existing one don't occur on the same day, ERCs are charged and then refunded on completion of the new Britannia mortgage

If the new mortgage is for a lower amount, the ERC will be charged on the difference between the amount of the existing mortgage and the amount of the new mortgage. For example, if your existing mortgage is £50,000 and you decide to port £40,000 to your new property and repay £10,000 using savings, an ERC will be charged on the £10,000 difference.

All our mortgages are portable, with the exception of Buy to Let.

So, if you’re considering moving house and already have a mortgage with Britannia that’s still in a period when ERCs apply, it’s well worth getting in touch with us, to discuss whether porting might help you save money.

*For an explanation of terms, please see our glossary .