How Much More Can I Borrow When Moving House?
Planning a move? Find out how much more you can borrow when moving house, and what lenders really look at in your application.
Moving home often means aiming higher — a bigger space, a new location, or a step up the property ladder. But how much more can you actually borrow when you are already tied into a mortgage?
The answer depends on more than just your salary. Let’s break down what lenders consider and how you can maximise your borrowing power.
Your current mortgage balance
The starting point is your existing loan. Lenders look at how much you still owe and how this compares to the value of your current home. This affects your equity position, which in turn shapes what is available when you move.
Equity and loan-to-value
Equity is the difference between your home’s value and your outstanding mortgage. If you have built up equity, you may move into a lower loan-to-value bracket, opening up access to better rates.
Income and affordability checks
Even though you already have a mortgage, lenders reassess your income and outgoings when you move. The same affordability rules apply as if you were a first-time buyer, so debts, childcare, and lifestyle spending all matter.
The impact of moving costs
Stamp duty, estate agent fees, and moving expenses reduce what you can put towards your next deposit. Factoring these in early helps avoid overstretching and disappointment later.
Porting vs taking a new mortgage
Some lenders allow you to ‘port’ your current mortgage rate to a new property. This can be useful if your deal is competitive, but it often involves reapplying. Alternatively, starting fresh with a new lender may unlock better terms.
A real-world example
Imagine you earn £45,000 and have £50,000 equity in your current home. On your existing deal, you might borrow around £202,500 (4.5x income). With your equity, you could move into a £250,000 property. If your outgoings are lower, some lenders might stretch further, but commitments could reduce the figure.
The Bottom Line
How much more you can borrow when moving house depends on a mix of income, equity, and affordability. Getting advice before you start house-hunting ensures you know your true budget and can move with confidence.
Your home may be repossessed if you do not keep up repayments on your mortgage or other loan secured against it.
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Not always. You may be able to port your current deal, but sometimes a new mortgage is better.
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Yes. Lenders reassess your full affordability when you move, just like with a first-time buyer.
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Yes. A higher income and strong affordability can increase what lenders offer.
