lenders that can allow you to port your mortgage include Lloyds Banking Group (part of it), Lloyds TSB and Halifax, plus Nationwide and Coventry building societies.

Guess no one knows....

Yes you can especially when the current rates are lower than what you have before. Always ask your mortgage professional the calculation before doing it so you know what rate you will be getting. It may also be worthwhile to just pay the penalties and go into a new lower rate mortgage if the numbers make sense (if you are saving money by doing this).

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I have $330k left on this mortgage and we are trying to get a house for $430. because the mortgage is portable, do i still need to have 5% down payment. and as a side note, if i do need a down payment, can it just be worked into the ported mortgage meaning not having to scrounge around for the 5%?

Yes

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And how easy is it to do?

Your deed and mortgage will normally refer to the collateral as the "Land (with legal description) and the Buildings thereon". That may cause some legal or technical problems. You will have to discuss this with your mortgage lender. If they can do it, it is a legal matter and you should have your attorney review the paper work also.

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Why have story contacts and story lines without additional info. they know people will try and contact someone especially when advertising a product or service that claims to help! i went searching right after the show to no avail, i came back looking tonight again!

www.mortgageport.com.au

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I am applying for a mortgage port and top up with my existing lender. they have been totally incompetent to the point that i may well lose the house i'm trying to buy. i wondered if i can request transcripts of all my calls to them as i want to report them to the fsa and possibly get compensation.

Not without a subpoena. The recordings are their property. If you want recordings of conversations, make them yourself. You will not be personally compensated.

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We are selling our house and want to pay off part of the mortgage and transfer the rest to a smaller property. we have been told by mortgage adviser we should be able to do this but not sure how it works. if anyone knows about this would love to hear.

Never seen it done in VA, PA, or OH. Too much paperwork for something as simple as paying off one mortgage and financing a 2nd. I have seen modification done where the secured property was swapped out; but really rare and usually as a deed of exchange or a property line adjustment.

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And port the 90k mortgage to the new property . will i have 75k left to have fun with? or somewhere am i missing something obvious.

I'd say your missing your 3rd grade math. when you sell your 200k house you clear 110k, aka you have 110k to play with. you then buy a 215k house, so you would take the 110k you 'cleared' and have to take out a mort on your 215k house of the balance, aka 105k. I don't see a 75k number anywhere. if the bank that you owe 90k to lets you transfer the mort to the new house (never heard of that.) you still are 15k short to buy the new house (110k down payment + the 90k = 200k of a 215k house you want to buy.) I don't know how you do math though. I want your banker though if you walk away with 75k from this deal. edit: Oh!!! I see where you got the 75k from. Sorry when you sell the house for 200k you still owe the 90k on the first house. just because you rolled the 90k debt into the new house, doesn't mean the bank doesn't want its 90k, you still only have 110k equity credit from the first house sale. you don't get the full 200k from the sale of the house. In fact you don't even get the 110k (200-90) because the real estate agent is going to take 12k. so you are only going to see 98k of the first houses equity, and then you'll have to subtract lawyer fees, and I bet a whole bunch of other recording fees.

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In the mortgage brochure, there is a column illustrate about 'porting', the answer of that is 'yes'. so what is it referring to ?

In this context porting means transfering the loan amount (and possibly increasing it) and the same terms and conditions to a new property. You would still have to apply again, and pay all the normal valuation and search fees, but if you have a good deal you would be able to move and guarantee to keep it. This is especially useful if you have a long fixed term (or other deal that has penalty charges for early redemption) and suddenly find you have to move in a couple of years. If you could not port the mortgage you would have no choice but to pay off the old mortgage and pay the penalty. If you can port it you transfer the remaining fixed term etc to the new property.

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www.mortgageport.com.au

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My mortgage rate has increased 4 times in 6 months and i'm now paying well over the odds for the property. i don't want to re-mortgage, i'm looking to find out if i can transfer my mortgage basically like for like to another provider which will have a cheaper rate.

Depending on which country you are in, there may be penalties for redeeming your existing mortgage early. Check with your current lender for this and ask them for a redemption figure. This will show a breakdown of everything you owe. Then, if you have established there are no early redemption penalties, go and see a bank that provides ADVICE on mortgages and can help find one that suits your circumstances. It is worth visiting a bank for the advice then shopping around for the cheapest equivalent product. When you have your product, you need to ensure that you meet the providers lending criteria (ie, you earn enough money and you are not credit impaired). The provider will quite often do a credit check to determine this. On application for a remortgage your property will be valued and they will need to use a solicitor to place a charge on your property in favour of them. If you are thinking of doing any home improvements etc.. think about whether or not you want to borrow that money at this stage to avoid costs later on. (The adviser should be able to tell you wether this would be in your best interests) Alternatively, call your existing mortgage provider and ask if they have a more competitive rate you can switch to. I would like to point out, that under no circumstances have I advised on any products or features of specific mortgages in this posting.