Porting Mortgage Calculator

Mortgage porting lets you keep your existing mortgage deal, including its interest rate and terms, when you move to a new home, rather than getting a completely new mortgage. You still need to reapply and pass lender checks, but porting can help you avoid exit fees and preserve favorable terms, especially when current rates are higher than your locked-in rate.

Porting a mortgage may involve combining your existing mortgage with a new loan if the new property is pricier, or repaying part of your mortgage early if it’s cheaper, potentially triggering early repayment charges (ERCs) on the difference

How the Simplified Porting Calculator Works

This basic calculator takes three user inputs:

1. Current mortgage balance
2. New loan needed
3. ERC rate (%)

It evaluates which of three porting scenarios applies:

• Like-for-like: Borrowing exactly the same amount – no ERC.
• Port plus additional borrowing: Borrowing more than the current balance – no ERC.
• Partial port: Borrowing less – ERC applies on the difference.