Family property swap/exchange. Can mortgage on one property be ported to other property?

[BenWaB]

Hi,
I want to sell my property and buy a property in a different town.

I then want to swap this new property with my parent's property.

There will be a mortgage on the new property and none on my parent's property.

Thanks!

Will all lenders allow me port the mortgage from the new property to my parent's property ?

I want to do this so that there is no mortgage on the new house which my parents will then own and live in.

 

[Brendan Burgess]

No, the lender will not allow you port your mortgage.

 

[Brendan Burgess]

Why don't you buy your parents' property with a mortgage.

Then let them buy the new property with the proceeds?

Much simpler.

 

[ClubMan]

Much simpler.

Plus it avoids one set of transaction/conveyancing (and stamp duty?) costs.