Return to the Mortgage Glossary Home to view explanations for all mortgage terms. What follows is the definition for the term Portable Mortgages as it relates to mortgages in the UK. Portable MortgagesA portable mortgage is one which allows the borrower to move their mortgage from one property to another if they need/want to move. This is important particularly if you are taking advantage of an introductory offer that comes with early redemption penalties. In that instance, if there are redemption penalties for the first 3 years for example, then if you wanted to move house after 18 months and didn't have a portable mortgage, then you would have to pay the penalties and then get a new mortgage product.
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