A home-mover mortgage is a type of mortgage that is designed for people who already own a home and are looking to move to a new one. This type of mortgage is also known as a "purchase mortgage" or a "moving home mortgage." When you take out a home-mover mortgage, you can use the money to purchase your new home, while using the equity in your current home as a deposit. You'll typically need to sell your existing home before you can complete the purchase of your new home, and the proceeds from the sale will be used to pay off the existing mortgage and cover the remaining cost of the new home. Home-mover mortgages typically offer a range of interest rates and repayment terms, and you'll need to shop around to find the best deal for your circumstances. You'll also need to have a good credit score and a stable income to qualify for this type of mortgage. Moneybrain Advice Ltd is Authorised and Regulated by the Financial Conduct Authority in respect of mortgage and insurance advice (FRN 940441).
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