Ready to move home? In this moving house checklist we go through porting, switching to a new mortgage lender and rate, tips for moving home and searching for a new property, selling your current house, the costs involved in moving home and more.
Even if you’ve been a homeowner for some time, the process of buying and selling your property is always daunting. Maybe you waded through the process so long ago that you’ve forgotten how it works. Or, maybe you’ve never moved before and this is all new to you.
Whether you’re a seasoned pro or this is the first time you’re selling a property, our moving house guide will take you through the journey. We’ll tell you how your mortgage could be affected, highlight all the key things to do when moving, run through the costs of moving and outline a few, practical moving house tips.
There are a number of options available to you should you need an entirely new mortgage when moving home. It’s important that you check whether you have any ERCs (early repayment charges) if you’re still in your introductory rate period and want to switch to a new lender. If you do, don’t worry – you can start to arrange a new mortgage with a new lender when you’ve got 6 months or less left on your current deal.
If you can’t port with your current lender, or they don’t have an alternative deal that’s suitable, then you can look elsewhere. Lenders have different criteria so you may be able to find a more favourable deal when it’s time for a new mortgage.
It’s sometimes worth sticking with the same type of mortgage if that’s what works best for you. However, personal circumstances change. You may find that a different type of rate or term now suits you better. A mortgage adviser will listen to your situation, explain your options and help you come to a decision you’re confident in.
You don’t have to stick with the same interest rate product when you take out a new mortgage, only if you port your existing one. You can choose from any available products that the lender has to offer for any new borrowing. These could be fixed, variable, tracker, discount, etc. Your mortgage broker will help you choose one that best suits you and your personal situation.
Find out more about the different types of mortgages in our Mortgage Types Explained guide.
Many mortgages are “portable”, which means you can transfer your current mortgage product to a new property. You’ll need to check with your lender or broker about whether your mortgage is portable and learn more about the T&Cs that your lender will apply.
If you’re thinking about porting your mortgage, remember that sometimes your lender won’t allow you to port your mortgage to a new property, even if it’s possible. This could be for several reasons. For example, the lender might find the type of property you want to buy unacceptable.
When you ask your lender to “port” your mortgage, you effectively have to reapply to borrow. Bear in mind that you may no longer qualify. Your circumstances could be different: you may have a new profession, your outgoings could have increased, or you may have had recent credit problems.
Equally, nothing may have changed for you financially, but your lender may have changed their criteria. In recent years lenders have had to carry out more stringent tests and checks on applications as a result of the 2008 “credit crunch”.
Even if you took out your first mortgage without any hassle, you could still face restrictions the second time around.
If the lender has tightened their affordability rules then you might not be able to borrow the amount you need. You may need to consider using another lender instead.
If you can port and are able to borrow more money, don’t forget that you’re tied to a lender already so you’ll have little choice other than to choose the rate your lender offers you. This may not be particularly competitive and could be far from the cheapest available, leaving you stuck paying a higher rate of interest on the extra borrowing.
It’s always worth consulting at least one estate agent when you’re looking to buy a property. They should be experts on the housing market in their areas who can keep you updated about any suitable properties and help you liaise with sellers when you start making offers.
It’s important to point out that you don’t have to use your estate agent’s mortgage broker – even if they tell you otherwise. It’s your choice which mortgage broker you use.
Now, regarding the kind of property you want – the more specific you can be with your estate agents, the better. Don’t be afraid to tell them exactly what you want and ask lots of questions about the properties they present to you. You should never feel like you’re settling – you’re choosing somewhere to live after all. It’s the place you’ll wake up every day and go to bed every evening.
So, beyond the number of bedrooms and price range, here are a few other things to ask your estate agents about:
First impressions are very important. You’re likely to have made 80% of your decision on whether to buy on the very first visit. But don’t be too hasty – it’s not 100%. Even minor factors such as the weather affect the way a property can come across on a particular day.
Go for a second viewing. You don’t need to pressure yourself more than necessary when moving home. If you’re unsure, go back and have a second look.
It’s worth going back even after you’ve had an offer accepted on a home and you’ve received a surveyor’s report, as a second viewing is a great opportunity to assess the extent of any problems.
By the time you’ve viewed a new property, you’ll have already asked the estate agent several questions that’ll inform your decision. But it’s also worth speaking with the sellers if that’s possible and asking them questions. After all, they know the property better than anyone else, especially if they’ve lived there for some time.
Some questions to consider asking the sellers include:
The answers to these questions will help you gauge whether the property is right for you and how much you’ll need to budget when moving in, so don’t be afraid to ask them.
Finding a new property is normally the fun bit. It’s extremely easy to get caught up in the excitement of it all. Just make sure you give equal attention to selling your property. After all, you want to get a good price for it to cover as much of the cost of your new home as possible.
Below are a few important elements involved in selling your property.
Take a look at the questions we recommended you ask when buying a property again. If you’re selling a property with some good answers to those questions, make sure you mention them in your advertisement or tell the estate agent managing the sale about them. Your estate agent can make those features really clear to prospective buyers of your home.
Although you want someone to pay a decent sum for your property, you don’t want to price people out and make it harder to sell. The best way to ensure you put it on the market for a reasonable amount is to have a valuation and ask your estate agent about the local market, so you can see how your home compares. You can also ask how to improve your home and boost its value by applying each of the questions we recommended earlier. For an even more accurate value estimate, we recommend having at least 3 valuations from different estate agencies. You can then use the average figure, rather than rely on a singular opinion.
You can advertise your property yourself or have your estate agent do it. There’s no legal requirement to use their advertising services but it’s a smart move if they’ve got an encouraging reputation. Just be aware that estate agents will charge you to advertise and it’s normally priced as a percentage of your final sale price – usually around 1.5%.
Online property advertisers are also becoming a popular option for sellers. However, it’s worth noting that you’ll likely have to arrange viewings yourself and pay fees upfront, regardless of whether you end up selling via that website or not.
You’re more likely to sell your home quickly and for a good price if it’s looking its best when people come to view it.
Here are our top tips:
Moving home is not only stressful – it’s expensive.
The estimated cost of moving house in the UK in 2022 was around £14,000 – this includes things like Stamp Duty, estate agents fees, legal fees, removals and more
How can you save money? You can’t cut certain expenses completely but you can reduce them by comparing providers. We recommend obtaining at least 3 quotes per service.
It’s important to be aware of any additional hidden costs you might have to pay, such as HM Land Registry fees, electronic transfer fees, property fraud fees, mortgage arrangement fees, storage fees, phone line and broadband setup costs. The amount you pay will likely depend on the services you use.
John Charcol can help you organise everything, from finding a removals company to setting up bills, with our free Concierge Service.
The property chain refers to the number of properties involved in a sale. For you, moving home will likely involve selling a property to move into another. That’s 2 properties. But the people from whom you’re buying a property will likely be moving into a new place themselves and the people buying your property will be moving from somewhere – and so on. You’ve got yourselves, your buyers, their buyers, the people selling you their property and the people they’re buying from – that’s a lot of buying and selling contracts that need to change hands. To make matters even more complicated, all these transactions need to complete on the same day.
The bad news? Stress and nail biting is inevitable when moving home. The good news? Most of the head-spinning contract stuff will be taken care of by your solicitor.
Here’s how you can stay on top of everything and remain informed throughout the process.
As you prepare to move house, creating a budget that factors in any hidden costs will help you keep up with your finances.
Within your budget, you should note everything you’ll need to pay for, such as:
This will prevent any surprises from cropping up and affecting the process.
If you’ve found your new house and are preparing to relocate, it’s normal to have many questions about your next steps and what things to do when moving home. To support you, the second part of our moving houses guide focuses on ensuring that you’re organised so that your moving day and the first few days in your property go as smoothly as possible.
There are many things to do when moving, but you don’t have to do everything at once. There are different stages. We’ve outlined below what you need to do as you approach your moving date.
When moving home you want to make sure your removals are sorted at least 4 weeks before the moving day. Most moving companies can be found via Google search, but if you’re staying local, you might be able to ask family, friends, or colleagues for recommendations.
Contacting a few moving companies is beneficial, as doing so will enable you to compare prices and guarantee that the moving company has the space and capacity to help you move to your new home.
Don’t forget to look at testimonials from previous customers – if a moving company has more bad reviews than good, it’s best to look elsewhere.
Preparing to move can help you gauge how many belongings you have and whether you still use or need them. So as you prepare to pack, consider decluttering your possessions.
If you find belongings you don’t need or want, why not create piles for anything you could donate to charity, sell, recycle or need to take to the tip.
After decluttering, you can start creating an inventory list of the rest of your belongings. Not only does listing what you have in each room make the packing process more manageable, but it’ll help you determine if anything is missing once you’ve moved and settled into your new home.
When the time comes for you to start packing, creating a packing checklist can relieve any stress you may be experiencing. On your checklist, think about including the following:
Remember to also make sure that your boxes aren’t too heavy, especially if you have to carry them into the house yourself.
It’s easy to forget the things you need most on a moving day while arranging the removal company, making sure nothing is left behind, and travelling to your new home. But there’s nothing more annoying than arriving and realizing that you don’t have scissors to open boxes, or bin bags for rubbish.
To help make moving day that little bit easier, here are a few of those all-important essentials to take with you in the car:
On your moving day, creating another checklist can help you stay organised. But what should you include? Here are a few ideas:
It’s easy to become overwhelmed when you first move in. But, there’s also no better feeling than making a new property into your home.
Here are some tips so you can make the most of this time – and actually enjoy it!
You need to inform just about everyone when you change address.
Some examples include:
As well as updating your address and utilities, you’ll need to cancel any old services and subscriptions. This might not apply to you if you’ve moved to a new house in the same town, as your gardener, for example, may be willing to travel. In this case, you’ll just need to make sure they know where to go. But if you’ve moved to a new area, cancelling services and subscriptions guarantees you’re not left paying for something you’re unable to access or use.
In addition to updating your address and utilities, you may also want to notify family, friends and anyone else who had the previous address that you’ve moved.
Changing your driver’s licence address might not be at the top of your to-do list, but it’s important to get this done. If you don’t do this swiftly, you could face a hefty fine.
Once you’ve moved, you can update your address online, which makes the process somewhat easier. You can also update it by post.
Throughout this moving house guide, we’ve shared our moving house checklist and several ways to manage the process when moving home. But we understand that you may still have some unanswered questions. To help you, we’ve answered a few of our most asked moving house FAQs below.
This entirely depends on how much time you’re allocating to moving, whether you’re moving into a smaller or larger home, and even where you’re moving to. Including purchasing, the moving process could take anywhere from a few months to a few years.
Updating your address for bills and subscriptions can be done online nowadays, which makes the process easier, not to mention quicker. You can also phone or email to inform your providers of your address change.
At John Charcol, our team of experts are on hand to take some of the pressure off your shoulders and arrange home and contents insurance for your personal belongings.
Book an appointment with an adviser today and we’ll help you work out which mortgage deal is best for you and your requirements.
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