Bright modern home for moving house
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Plan your next move From current home to new home
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Review your finances Before making your next offer
Moving Home

Your next move should feel like a step forward.

Moving home involves more than finding a new property. Understand your existing mortgage, available equity, buying costs, affordability and the practical steps involved in moving from one home to another.

01 Plan the sale, purchase and finances together.
◆ Existing Mortgage
◆ Equity
◆ New Mortgage
◆ Selling Costs
◆ Stamp Duty
◆ Solicitor
◆ Survey
◆ Completion
◆ Existing Mortgage
◆ Equity
◆ New Mortgage
◆ Selling Costs
◆ Stamp Duty
◆ Solicitor
◆ Survey
◆ Completion
Elegant living room in a modern property
Moving is a financial decision too. Review your existing position before deciding what your next home should cost.
Before You Move

Your current home can shape what comes next.

When you already own a property, your next purchase can involve two connected decisions: selling your existing home and buying your next one.

Understanding the value of your current property, outstanding mortgage balance, potential equity and additional buying costs can help you build a more realistic moving budget.

The Big Picture

Think about the move as one connected journey.

Selling your current property and buying another can involve overlapping financial, legal and practical steps.

Existing family home
Where you are now

Your Current Home

Consider its potential sale value, outstanding mortgage, selling costs and the equity that may be available towards your next purchase.

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New modern home
Where you could go next

Your Next Home

Consider the new property price, mortgage requirement, Stamp Duty, moving costs and how the new monthly payment fits your finances.

Moving Journey

Five stages to keep your next move organised.

Planning ahead can help you understand what needs to happen before your current home is sold and your new home is ready.

01

Review

Assess your current mortgage, property value and finances.

02

Prepare

Get your property ready and understand likely selling costs.

03

Search

Explore properties that fit your updated budget.

04

Negotiate

Manage the sale and purchase decisions together.

05

Complete

Finalise the legal work, finances and move into your home.

Equity & Deposit

Your current property may help fund your next move.

If your current property is worth more than the amount remaining on your mortgage, the difference represents equity before considering selling costs and other adjustments.

The amount available towards your next purchase depends on your actual property value, mortgage balance, costs and circumstances.

Illustrative View
Home equity
Mortgage balance
Property value Current market value is an important starting point.
Mortgage balance Check the amount still outstanding on your loan.
Moving Costs

Budget for the move, not just the new property.

Selling one property and buying another can create several costs that are easy to overlook when focusing only on the new purchase price.

01

Estate Agent Fees

Selling a property may involve estate agency fees depending on the service and agreement you choose.

02

Stamp Duty

A new property purchase may create a Stamp Duty liability depending on the property and your circumstances.

03

Legal Costs

Selling and buying can require legal and conveyancing work, with costs depending on the transaction.

04

Moving Expenses

Removals, storage, cleaning and other practical costs can all form part of your moving budget.

Homeowner reviewing mortgage documents
Mortgage Planning

Your existing mortgage may not simply carry over.

When moving home, it is important to understand how your existing mortgage fits into the transaction. Depending on your lender and mortgage product, you may have options such as porting, refinancing or arranging a new mortgage.

01
Check Your Current Mortgage Review the remaining balance, rate, term and any applicable early repayment considerations.
02
Understand Your New Borrowing Your next property may require a different mortgage amount and repayment structure.
03
Compare The Overall Cost Look beyond the initial rate and consider fees, term length and total borrowing costs.
Moving Checklist

Keep both sides of the move organised.

A simple checklist can help you keep track of the financial and practical decisions involved in moving home.

Financial Preparation

✓ Check your current mortgage balance and terms.
✓ Review the estimated value of your current property.
✓ Estimate selling and buying costs.
✓ Work out a realistic budget for your next home.
✓ Compare potential new mortgage repayments.

Practical Preparation

✓ Prepare your current property for sale.
✓ Gather documents required by your solicitor.
✓ Arrange surveys and property checks where appropriate.
✓ Plan removals, storage and moving dates.
✓ Keep your purchase and sale timelines aligned.
Beautiful modern family home
Your Next Chapter

Make your next home work for the life you are building.

The right move is not simply about getting a bigger or newer property. Consider affordability, location, monthly costs and how the home fits your longer-term plans.

Modern house exterior
Moving Home FAQs

Questions to consider before moving home.

Moving can involve several financial and practical decisions. These answers provide a useful starting point.

Review your current mortgage, estimated property value, available equity, selling costs, new mortgage requirements and the costs associated with buying your next property.
Potentially. Equity is broadly the difference between the value of your property and the mortgage secured against it. The amount available for your next purchase will depend on the actual sale price, mortgage balance and transaction costs.
This depends on your mortgage product and lender. Some mortgages may be portable, while in other cases you may need to repay the existing mortgage and arrange new borrowing.
Potential costs can include estate agency fees, legal and conveyancing costs, Stamp Duty where applicable, surveys, mortgage-related fees, removals and storage.
There is no single approach that works for every homeowner. The right sequence can depend on your finances, chain position, mortgage arrangements and the local property market.
You can use a mortgage calculator to explore illustrative repayment scenarios based on the amount borrowed, interest rate and mortgage term. Actual payments depend on the mortgage product.
Stamp Duty treatment depends on the property transaction and your circumstances. Use the current Stamp Duty rules and an appropriate calculator when estimating the cost of a purchase.

Ready to plan your next move?

Start with your current position, understand the costs and then work out what your next home could look like.

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