Moving home can be exciting, but it can also be one of the most stressful financial decisions you make. There is often a lot happening at once: selling your current home, finding somewhere new, checking what you can afford, arranging viewings, making offers and dealing with solicitors, estate agents and lenders.
If you are planning to move within Brighton, relocate to the area, or move from Brighton to somewhere nearby, getting moving home mortgage advice in Brighton early can help you understand your options before you commit to a property.
Many people assume they can simply transfer their current mortgage or borrow a little more without difficulty. In reality, lenders will usually reassess affordability, income, commitments, credit history and the details of the new property. Speaking to a mortgage broker before you make an offer can help avoid surprises later in the process.
Mortgage Pro Sussex provides friendly, local mortgage advice for home movers and buyers across Brighton and the wider Sussex area. You can also visit the main mortgage broker in Brighton page for local support.
Why Get Mortgage Advice Before You Start Viewing?
Before you start seriously viewing properties, it is important to know what you can realistically afford. This is especially true in Brighton, where property prices can vary significantly depending on location, property type, condition and proximity to the seafront, station, schools or local amenities.
Getting advice early can help you understand:
- how much you may be able to borrow
- whether your current mortgage can be moved
- what your monthly payments might look like
- whether you need to sell before buying
- how much deposit or equity you may have
- whether extra borrowing is realistic
- what documents lenders may need
- whether your circumstances have changed since your last mortgage
This means you can search within a sensible budget and make offers with more confidence.
Can You Move Your Existing Mortgage?
If you already have a mortgage, one of the first questions to ask is whether it can be moved to your new property. This is known as porting a mortgage.
Porting means transferring your existing mortgage product to a new property. This may be useful if you are currently on a competitive fixed rate or if leaving your deal early would mean paying an early repayment charge.
However, porting is not automatic. Your lender will usually reassess your application as if you were applying again. They will look at your income, outgoings, credit history and the property you want to buy.
You may also need additional borrowing if the new property is more expensive than your current home. That extra borrowing may be offered on a different rate or product.
A mortgage broker can help you understand whether porting is likely to be suitable, or whether a new mortgage deal may be more appropriate.
What If You Need to Borrow More?
Many home movers need to increase their borrowing, especially if they are moving to a larger property, a more expensive area, or a home that better suits their changing circumstances.
Lenders will assess whether the new borrowing is affordable. They may look at:
- your income
- regular monthly commitments
- childcare costs
- loans, credit cards or finance agreements
- credit history
- age and mortgage term
- deposit or equity
- future affordability
Even if your income has increased since your last mortgage, borrowing more is not guaranteed. Higher household costs, interest rates or credit commitments can all affect affordability.
Getting advice early helps you understand what may be realistic before you make an offer.
Selling and Buying at the Same Time
Moving home often means being part of a chain. You may need to sell your current property before completing on your new one. This can create pressure, especially if other buyers and sellers are involved.
A mortgage broker cannot control the whole chain, but they can help with the mortgage side of the process by making sure you are prepared.
This may include:
- checking your likely borrowing position
- helping you understand your deposit from sale proceeds
- arranging an agreement in principle
- explaining lender timescales
- preparing documents in advance
- helping with the mortgage application once your offer is accepted
The better prepared you are, the less likely the mortgage process is to cause unnecessary delays.
What Is an Agreement in Principle?
An agreement in principle gives an indication of how much a lender may be willing to lend, based on your information at that stage. It is not a full mortgage offer and does not guarantee approval, but it can be useful when viewing properties or making an offer.
Estate agents may ask whether you have an agreement in principle before accepting an offer or taking you seriously as a buyer.
If you are moving home in Brighton, having an agreement in principle can help show that you have taken financial advice and have a clearer idea of your budget.
A broker can help you decide which lender to approach for this, rather than applying randomly and potentially choosing a lender that is not suitable for your circumstances.
How Your Current Property Affects Your Move
Your current home plays a big part in your moving plans. The amount of equity you have can affect your deposit for the next property.
Equity is the difference between the value of your current home and the amount left on your mortgage. For example, if your home has increased in value since you bought it, you may have more equity available than expected. However, estate agent fees, legal costs, moving costs and any early repayment charges also need to be considered.
If your property value is lower than expected, or your outstanding mortgage is higher than planned, this may affect the price range you can consider.
A mortgage adviser can help you understand how your current mortgage and expected sale proceeds may influence your next purchase.
Brighton Property Considerations for Home Movers
Brighton has a diverse property market, from converted flats and period terraces to family homes, maisonettes and newer developments. Some properties may need more careful lender consideration than others.
Potential issues can include:
- lease length on flats
- service charges and ground rent
- unusual construction
- listed or period features
- building condition
- cladding or fire safety considerations
- property valuation concerns
- planned renovations
If you are moving to a different type of property, it is worth getting advice before assuming every lender will be comfortable with it.
For example, a move from a standard freehold house to a leasehold flat may involve different questions from the lender. Similarly, if you are buying a property that needs work, lenders may assess its condition carefully.
Should You Choose a Fixed Rate When Moving?
Many home movers consider fixed-rate mortgages because they provide certainty over monthly payments for a set period. This can be helpful when moving home, as there are often other costs to manage.
However, a fixed rate is not automatically right for everyone. Some buyers may prefer flexibility, especially if they expect to move again, repay part of the mortgage, or review their finances soon.
Your options may include:
- fixed-rate mortgages
- tracker mortgages
- variable-rate mortgages
- offset mortgages
- product transfers
- ported mortgage products
The right choice depends on your circumstances, plans and attitude to risk. A broker can explain the options clearly so you can make an informed decision.
Costs to Think About When Moving Home
When planning a move, it is easy to focus only on the property price and mortgage payment. However, there are several other costs to consider.
These may include:
- estate agent fees
- solicitor or conveyancing fees
- survey costs
- mortgage valuation fees
- removal costs
- Stamp Duty, where applicable
- early repayment charges
- mortgage arrangement fees
- buildings insurance
- temporary storage or rental costs
Factoring these in early can help you avoid stretching your budget too far.
Why Use a Mortgage Broker When Moving Home?
Moving home can be more complex than buying for the first time because you may have an existing mortgage, a property chain and changing borrowing needs.
A mortgage broker can help by reviewing your current mortgage, comparing options and guiding you through the process.
A broker can:
- check whether your existing mortgage can be ported
- compare staying with your lender against switching
- assess additional borrowing options
- help arrange an agreement in principle
- explain likely monthly repayments
- support your mortgage application
- liaise with lenders where needed
- help you understand your options before making an offer
Mortgage Pro Sussex offers clear advice for home movers in Brighton and across Sussex. You can learn more about the business on the Mortgage Pro Sussex homepage.
When Should You Speak to a Mortgage Broker?
Ideally, you should speak to a broker before you put your home on the market or start making offers. This gives you time to understand your budget and avoid making decisions based on guesswork.
You should consider getting advice if:
- you are thinking about moving within Brighton
- you want to move to a larger home
- you are downsizing
- your mortgage deal has not yet ended
- you may need to borrow more
- your income has changed
- you are unsure whether to port your mortgage
- you want to know what your monthly payments may be
- you are buying and selling at the same time
Early advice can make the process feel more manageable and help you move forward with greater confidence.
Get Moving Home Mortgage Advice in Brighton
Moving home is a big decision, and your mortgage is one of the most important parts of the process. Before you make an offer or commit to a purchase, it is worth understanding your borrowing options, current mortgage position and likely monthly payments.
Mortgage Pro Sussex provides friendly, practical moving home mortgage advice in Brighton and across the wider Sussex area. Whether you are upsizing, downsizing, relocating or buying your next family home, local advice can help you prepare properly.
To discuss your options, visit the mortgage broker in Brighton page or contact Mortgage Pro Sussex.
Mortgage advice depends on your personal circumstances, and mortgage approval is not guaranteed. Always seek advice based on your own situation before making financial decisions.
FAQs
Can I move my current mortgage to a new property?
Possibly. This is called porting, but your lender will usually reassess your income, affordability and the new property.
Should I speak to a mortgage broker before making an offer?
Yes, it is sensible to get advice before making an offer so you understand your likely borrowing position and monthly costs.
Can I borrow more when moving home?
Possibly, depending on your income, commitments, credit history, deposit and lender criteria.
What happens if my current mortgage has early repayment charges?
You may need to consider porting your existing mortgage or factoring the charge into your moving costs. Advice is important before deciding.
Can Mortgage Pro Sussex help home movers in Brighton?
Yes. Mortgage Pro Sussex can help people moving home in Brighton understand their mortgage options, affordability and next steps.
Getting a mortgage when you are self-employed can feel more complicated than applying as an employed applicant. That does not mean it is impossible, but it does mean lenders may look more closely at your income, accounts and overall financial position.
If you are looking for a self employed mortgage broker in Brighton, getting advice early can make the process much clearer. Whether you are a sole trader, freelancer, contractor, limited company director or running a growing local business, the right preparation can help you understand your options before applying.
Brighton has a strong community of self-employed professionals, creatives, consultants, tradespeople and business owners. However, income can vary from one year to the next, and not every lender assesses self-employed income in the same way. That is why choosing the right lender can be just as important as finding the right mortgage rate.
Mortgage Pro Sussex provides local, practical mortgage advice for self-employed applicants and can help you understand what lenders may need before you make an application.
For local support, visit the mortgage broker in Brighton page.
Can You Get a Mortgage If You Are Self-Employed?
Yes, self-employed people can get mortgages, but the process can require more evidence than it might for someone in permanent employment.
Lenders mainly want to know that your income is reliable, affordable and sustainable. They will assess how much you earn, how consistent your income is, how long you have been trading and whether the mortgage repayments appear manageable.
Being self-employed does not automatically make you a higher risk, but it can make the application more detailed. This is especially true if your income fluctuates, your business is new, or your accounts have recently changed.
What Counts as Self-Employed?
Different lenders may define self-employment slightly differently, but you may be treated as self-employed if you are:
- a sole trader
- a freelancer
- a contractor
- a partner in a business
- a limited company director
- someone who owns a significant share of a company
- working through your own business rather than as a PAYE employee
Some applicants have both employed and self-employed income. For example, you may have a part-time job and freelance income on the side. Others may pay themselves through salary and dividends from a limited company.
A mortgage broker can help identify how lenders are likely to view your income and which approach may be most suitable.
How Much Can You Borrow If You Are Self-Employed?
How much you can borrow depends on your income, deposit, credit history, regular commitments and the lender’s affordability rules.
For self-employed applicants, lenders may calculate income using:
- your latest year’s income
- an average of two years’ income
- salary and dividends
- share of net profit
- retained profits in the business
- contract income
- a combination of income sources
This is where things can become confusing. One lender may use one method, while another may take a different view. As a result, two lenders could offer very different borrowing figures for the same applicant.
This is one of the main reasons self-employed buyers often benefit from mortgage advice before applying.
What Documents Will You Need?
Most lenders will ask for documents that prove your income and help them understand your business. The exact requirements vary, but you may need:
- SA302 tax calculations
- tax year overviews
- business accounts
- accountant’s references
- bank statements
- business bank statements
- proof of ID and address
- details of existing credit commitments
- deposit evidence
If you are a limited company director, lenders may also ask for company accounts and information about salary, dividends and profits.
It is worth getting these documents organised before you start applying. Missing or inconsistent paperwork can slow the process down.
How Many Years of Accounts Do You Need?
Many lenders prefer to see at least two years of accounts or tax returns. However, this does not mean every applicant needs two full years in every case.
Some lenders may consider applicants with one year of accounts, depending on the strength of the application and the wider circumstances. Others may be more cautious, especially if income has fallen or the business is very new.
If you have only recently become self-employed, it is especially important to get advice before applying. A broker can help you understand which lenders may be more open to your situation.
What If Your Income Has Gone Up or Down?
Self-employed income often changes from year to year. This can affect how lenders assess your application.
If your income has increased, some lenders may still average the last two years, which could reduce the amount you can borrow. Others may place more weight on the latest year if the increase is supported by the business figures.
If your income has decreased, lenders may use the lower figure, as they want to be confident that the mortgage remains affordable.
A broker can help present your circumstances clearly and identify lenders whose criteria may better fit your income pattern.
Limited Company Directors: What Do Lenders Look At?
If you run a limited company, you may pay yourself through a mixture of salary and dividends. Some lenders assess this income in a straightforward way, but others may also consider your share of company profits.
This can be helpful if you keep money within the business rather than taking all profit as personal income. However, not every lender will treat retained profit in the same way.
Lenders may consider:
- director’s salary
- dividends received
- company profit
- retained profit
- percentage shareholding
- trading history
- accountant-prepared accounts
If your income structure is more complex, choosing the right lender becomes particularly important.
Sole Traders and Freelancers
If you are a sole trader or freelancer, lenders will usually look at your declared income through your tax returns. They may average your earnings over the last two years or use the most recent figure, depending on the lender and whether your income is rising or falling.
For freelancers in Brighton’s creative, digital, hospitality, consultancy or trade sectors, income may vary throughout the year. Lenders will want to see that your overall earnings are stable enough to support the mortgage.
Keeping clear records and having up-to-date accounts can make the process easier.
Contractors and Irregular Income
Contractors may be assessed differently depending on how they work. Some lenders may look at your contract rate, while others may assess your accounts or tax returns.
They may consider:
- day rate
- contract length
- time remaining on the contract
- industry experience
- gaps between contracts
- previous contracting history
If you work on contracts, it is important not to assume all lenders will assess your income in the same way.
How to Improve Your Chances Before Applying
There are several steps you can take before making a mortgage application:
1. Get your accounts up to date
Make sure your accounts, tax returns and tax year overviews are accurate and available.
2. Check your credit file
Review your credit reports and correct any errors before applying.
3. Reduce unnecessary commitments
Loans, credit cards and finance agreements can affect affordability.
4. Avoid sudden financial changes
Try not to make major credit applications or unexplained large transactions before applying.
5. Save a clear deposit trail
Lenders may ask where your deposit has come from, so keep records of savings, gifts or transfers.
6. Speak to a broker early
A broker can help you understand which lenders may be more suitable before you apply.
Why Use a Self-Employed Mortgage Broker in Brighton?
A broker can help simplify the mortgage process by matching your circumstances to suitable lenders. This can be especially valuable if your income is complex, your accounts have changed, or you are unsure how much you may be able to borrow.
A mortgage broker can:
- assess your income structure
- explain what documents you need
- compare lenders with suitable criteria
- help avoid unsuitable applications
- support you with paperwork
- liaise with lenders where needed
- help you understand your options clearly
For self-employed applicants, it is often not just about finding a competitive rate. It is about finding a lender that understands your income.
You can learn more about the business and services available from Mortgage Pro Sussex.
Get Self-Employed Mortgage Advice in Brighton
If you are self-employed and planning to buy a property, remortgage or move home, getting advice early can help you feel more prepared.
Mortgage Pro Sussex offers friendly, practical mortgage advice for self-employed people in Brighton and across Sussex. Whether you are a sole trader, limited company director, freelancer or contractor, the right guidance can help you understand your options before applying.
To speak to a local adviser, visit the mortgage broker in Brighton page or contact Mortgage Pro Sussex.
Mortgage advice depends on your personal circumstances, and mortgage approval is not guaranteed. Always seek advice based on your own situation before making financial decisions.
FAQs
Can I get a mortgage if I am self-employed?
Yes, many self-employed people can get mortgages, but lenders usually need evidence of income and trading history.
How many years of accounts do I need for a self-employed mortgage?
Many lenders prefer two years of accounts, but some may consider one year depending on your circumstances.
Do lenders use salary and dividends?
Some lenders use salary and dividends for limited company directors, while others may consider company profits too.
Can I get a mortgage if my self-employed income varies?
Possibly. Lenders will assess income stability, affordability and your overall financial position.
Can Mortgage Pro Sussex help self-employed buyers in Brighton?
Yes. Mortgage Pro Sussex can help self-employed applicants understand lender options, documents and the mortgage process.