If you find you can’t transport your mortgage to a new property, then your only option will be to stump up any early redemption penalties and to move lenders, or to stay put in your current property Therefore when taking out a mortgage always give lots more thought as to when your next move might be before you lock yourself into another mortgage deal – even if it is ‘portable’.
Since you cannot pick up the house and move it. you can refinance your mortgage into a lower-rate loan in the future. 4. Can you afford the costs of homeownership? Being a homeowner is an expensive.