Portable mortgage

Some mortgages allow you to transfer the mortgage to a different property without penalty, even if a redemption charge would be payable on termination of the mortgage. Since the Portable mortgage is being transferred and not terminated, redemption penalties would not apply.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

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