Table of Content
Selling & Moving Home During a Fixed-Rate Mortgage — Your Options Explained
You don’t have to wait until your fixed deal ends. You can port, switch, or plan your timing — and in most cases, there’s a route that costs less than you’d expect. We’ve helped thousands of home movers do exactly this.
Your 3 main routes when selling and moving during a fixed rate
Whether you’re upsizing, downsizing, or breaking the chain, the right route depends on your rate, how long is left on your deal, and what you’re buying next.
Which route saves you most? That depends on your specific rate, remaining term, and what the market currently offers. We’ll run the numbers across all three routes and tell you exactly where you stand — before anything is submitted.
How to port your mortgage to a new property
Porting means transferring your existing mortgage deal to your new home. You keep your rate, stay with your lender, and in most cases avoid early repayment charges.
It’s not an automatic transfer — your lender will still run full affordability checks, a credit check, and a new property valuation. Your mortgage must also be portable (most are, but not all).
If you need to borrow more
The extra amount sits on a new rate, running alongside your ported deal as a separate sub-account. You’ll have two different rates running until they end — at which point both need reviewing separately.
Here’s how that typically looks:
| Mortgage Portion | Balance | Interest Rate | Fixed Until | Notes |
|---|---|---|---|---|
| Existing Mortgage | £100,000 | 2.00% | February 2029 | Original loan, ported to new property |
| Additional Borrowing | £50,000 | 3.50% | July 2030 | Top-up on new rate for higher purchase price |
Watch out: Two sub-accounts means two separate end dates. When either portion comes off its fixed rate, you’ll need to review and remortgage that portion — potentially two separate processes. It’s manageable, but worth knowing upfront.
If you’re borrowing less (downsizing)
Most lenders allow annual overpayments of around 10% without penalty. If you repay more than that threshold when downsizing, ERCs may apply on the excess amount — worth checking before you commit.
Mortgage exit fees and early repayment charges — what to expect
ERCs are usually a percentage of your outstanding loan, tapering down each year. Here’s what they typically look like — and when it makes sense to pay them.
The structure varies by lender, but the two most common patterns are a declining scale (higher in year 1, lower by year 5) or a flat percentage throughout the fixed period. A few things worth knowing:
- Check when your ERC reduces, not just when it ends. If you’re planning to complete in November but your exit fee steps down in December, it may be worth waiting just a few weeks to save thousands. The timing of your completion date relative to your ERC schedule can make a real difference.
- Longer fixed rates typically carry higher ERCs. A 5- or 10-year fix will often start at 5% or more, whereas a 2- or 3-year fix may start at 2–3%. If you’re on a longer deal, the fee could be significantly higher than you expect — check your original mortgage offer.
- On a tracker or variable rate mortgage? You may have no ERC at all. Most tracker and discount variable products don’t carry early repayment charges, meaning you can sell and move without any penalty. Check your mortgage terms to confirm.
Declining scale (example on £100k)
| Year | Exit Fee % | Exit Fee (£) |
|---|---|---|
| Year 1 | 5% | £5,000 |
| Year 2 | 4% | £4,000 |
| Year 3 | 3% | £3,000 |
| Year 4 | 2% | £2,000 |
| Year 5 | 1% | £1,000 |
Flat rate (example on £100k)
| Year | Exit Fee % | Exit Fee (£) |
|---|---|---|
| Year 1 | 3% | £3,000 |
| Year 2 | 3% | £3,000 |
| Year 3 | 3% | £3,000 |
| Year 4 | 3% | £3,000 |
| Year 5 | 3% | £3,000 |
Is it worth paying an exit fee?
Sometimes yes — if the rate saving outweighs the fee over the remaining term. Here’s a simple illustration:
| Scenario | Interest Rate | Monthly Payment* | 5-Year Total | Difference |
|---|---|---|---|---|
| Existing Mortgage | 5% | £584 | £35,040 | — |
| New Mortgage | 3% | £474 | £28,440 | £6,600 saving |
| Less Exit Fee | — | — | — | £2,500 cost |
| Net Saving Over 5 Years | — | — | — | £4,100 better off |
*Example based on a £100,000 repayment mortgage over 25 years. Figures are approximate and illustrative only.
The key question: Does your rate saving over the remaining term exceed the exit fee? We’ll calculate this for your exact situation — it takes minutes and can save you thousands. You can also use our full moving cost calculator to factor in all the costs of switching.
Porting your mortgage vs taking out a new mortgage when you move
Both routes can work well — the right choice depends on your current rate, how your lender treats the move, and what’s available in the market right now.
| Factor | Porting Your Mortgage | Starting a New Mortgage |
|---|---|---|
| Early Repayment Charges | Usually avoided if you port successfully | Likely payable if you redeem early |
| Interest Rate | Keeps your existing rate (useful if it’s competitive) | Access to current market deals — may be lower or higher |
| Affordability & Credit Checks | Still required — your lender reassesses you and the new property | Full assessment with a new lender |
| Flexibility | Limited to what your existing lender offers | Wider choice of lenders, rates, and products |
| Borrowing More | Possible, but extra borrowing will be on a new rate | Full new mortgage tailored to your new borrowing needs |
| Borrowing Less | May trigger partial ERCs if you repay more than allowed | No ERCs if done after your fixed deal or with flexible terms |
| Complexity | Two sub-accounts if you borrow extra — more admin later | Clean slate — single product, single term |
| Speed | Can be quicker — you’re staying with your lender | May take longer, depending on lender processing times |
Cost of moving house — calculate your full budget
Stamp duty, solicitor fees, estate agent fees, survey costs and more — all in one place. Solicitor figures are pre-filled with typical estimates; adjust them to match your own quotes. You can also access the full calculator here.
Fixed rate ending soon? What to do if you're planning to move
If your fixed rate is close to expiry, timing your move around it can save you significant money — but reverting to your lender's SVR in the meantime can cost you.
Standard Variable Rate (SVR)
When your fix ends, you revert to your lender's SVR — typically 6–8%. You get full freedom to move or switch without penalty, but you'll likely pay more each month.
Tracker or Discount Variable
Lower than SVR, usually no early repayment charge. A good short-term option if you're planning to move soon but haven't found your next property yet.
Planning to move in the next 6–12 months? Avoid locking into a long fixed term now. A short fix, tracker, or flexible product keeps your options open — we'll recommend the right structure based on your timeline.
Why home movers trust Strive to get it right
We're a whole-of-market broker specialising in home mover mortgages. We'll compare every option — porting, switching, or timing your move — and recommend the route that actually saves you money.
- Whole-of-market access — we compare every relevant lender to find the best overall outcome, not just the easiest port
- We run the exit fee maths for you — so you know whether it's worth switching before you commit
- We handle complex income types — employed, self-employed, bonuses, and multi-source income all handled correctly
- Five-star rated on Google — thousands of home movers have trusted us to structure their move correctly
No obligation — we'll confirm your options and run your numbers before anything is submitted
