Financial Glossary of Finance Terms Portable Mortgage

A portable mortgage is one that can be moved to another property. This particularly useful if you are in an introductory offer say 5 years fixed and want to avoid Early Repayment Charges

If you port the mortgage to an alternative property of less value there still maybe some early repayment charges.

If you port the mortgage to an alternative property of a higher value you may need addional borrowing also known as a further advance