For first time buyers, mortgages can seem like a huge financial burden and, if you’ve never taken out a loan as large as your first mortgage, this may be quite intimidating..

If you move before the mortgage term is over on that property, you can transfer the existing mortgage over to the new one, effectively using a method called ‘porting’.

Approximately 33% of home loans in Britain are re-mortgages. What this means is you borrow money against your property, or you take out a new mortgage to replace the existing one.

This is a secured loan for those who wish to purchase a property with the intention of renting it out to tenants.