HOW PORTING YOUR MORTGAGE REALLY WORKS

Porting lets you transfer your existing mortgage to a new property while keeping your rate and avoiding penalties. But approval is NEVER automatic — lenders treat it almost like a brand-new application.

See what lenders check before allowing a port 👇

1️⃣ You must still fully re-qualify for the mortgage

Porting does NOT bypass income or employment requirements.

✔️ income must meet current guidelines

✔️ probation periods can cause declines

✔️ new property must be lender-approved

A move, job change, or unstable hours can delay or block approval completely.

2️⃣ If the new home costs more, expect a blended rate

Buying a more expensive home means adding new money to the mortgage.

✔️ lender blends your old rate with current rates

✔️ payment may rise

✔️ term details may change

Blended rates often reduce the savings borrowers expect to keep.

3️⃣ Buying a cheaper home may trigger penalties

If your mortgage balance is reduced, lenders can still charge fees.

✔️ penalty applied to the reduction amount

✔️ deducted from sale proceeds

✔️ refunded later — sometimes weeks

This often creates a short-term cash gap at closing.

4️⃣ You still need a full down payment for the new property

Porting does not replace the need for upfront funds.

✔️ minimum down payment still required

✔️ closing costs still required

✔️ equity release timing may cause delays

You must plan for the financial gap between selling and buying.

5️⃣ Timelines are strict — from 1 to 120 days

Each lender sets its own porting window.

✔️ some require same-day closings

✔️ others allow 30–120 days

✔️ delays can void the port

Missing the window means starting over at today’s rates — often with penalties.

💬 Final Thought

Porting can save thousands in penalties, but only when income, timing, property type, and lender conditions all align. Planning ahead avoids expensive surprises. Message The Frontline Mortgage Group to find out more.