The mortgage can be transferred from one property to another without incurring penalties.

With a portable mortgage you are able to take your existing mortgage agreement from one property to another, subject to underwriting.

the ability to transfer your mortgage including rate and terms, from your existing property to a new property.

Should you move home during the term of a mortgage it should be possible to transfer this type of mortgage from one property to another even if discounted or capped rates still apply.

An existing mortgage that can be transferred to a new property. One would want to port their mortgage in order to avoid any penalties, or if the interest rate is much lower than the current rates.

A mortgage that a borrower can transfer from his current home to another that the borrower would like to buy with the terms, conditions and interest rate intact. (see Mortgage)

If a mortgage is 'portable' it means that it can be transferred from one property to another without a penalty.

A portable mortgage can be transferred to another property without the borrower incurring an early redemption penalty. This type of mortgage is usually associated with discounted, fixed, capped and tracker interest rates offered as incentives for limited terms. For example, if a discounted interest rate was fixed for the first 4 years of the mortgage term, but the borrower moved home after 2 years they would usually incur an early redemption penalty for ending the mortgage early. If the mortgage had a portable feature the borrower could move house and continue the discounted rate period for the remaining 2 years in the new property. Remortgage (Process of transferring mortgages - click for full explanation)

The current rate, term, and mortgage amount may be applied to pay for your new home after the sale of your existing home. If you meet the normal lending criteria, you can take your existing mortgage with you when you buy a new home.

A mortgage which may be moved by the borrower in the event that the borrower sells her current property and buys a new one. "Porting" one's mortgage usually requires the consent of the lender.

A mortgage which allows you to transfer the amount and terms over to a new property without cost or penalty. The mortgage will, of course, have to be registered on title of the new property, so strictly speaking it is not identical in all respects. While most mortgages have a portability feature, in the event you might need more money when you transfer the mortgage over to the new property, make sure you either have the right to blend in any new funds required, or can arrange the additional funds separately.

Upon the consent of the lender, the mortgagor may transfer the balance of their existing mortgage to a new property being mortgaged.

Preliminary approval by the lender of the borrower's application for a mortgage to a certain maximum amount and rate. Usually conditional upon the property being purchased meeting the lender's criteria.

Where the terms and conditions of a mortgage product can be transferred to a new property. No entries.