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Porting instructions

For all porting cases please register or log in to MSO and follow steps 1-12 before the specific steps for each type of porting application. 

How to submit a porting application in MSO

  1. Select ‘new purchase’.
  2. Submit clients(s) personal details. Including:
    2a. name
    2b. date of birth
    2c. primary mortgage account number
    2d. property postcode
  3. Create a case to view the existing lending details and select ‘case summary’. A new case will be created.
  4. Select the mortgage that the customer is looking to port by clicking on the account number.
  5. On the ‘Account Summary Page’, you will see a green tick below ‘Existing Accounts’ if the mortgage can be ported.
  6. Select 'Yes' for ‘Is the applicant an existing Principality customer?’
  7. Under ‘Existing Mortgages’, select ‘Mortgage to be repaid.’ This reflects that the mortgage on the previous property will be repaid and the mortgage on the new property will be created. You can start the application (DIP) or create an illustration.
  8. If we can port the customers’ existing mortgage, a message will appear at the top of the page ‘portable products to choose from’. Select ‘port a product’.
  9. Once selected, MSO will show:
    9a. which accounts can be ported
    9b. remaining balance on the existing rate
    9c. original term
  10. To port this rate, select ‘port’ on the top right of the product.
  11. After selecting ’port’, a repayment calculator will open. Use this to amend the amount or term of the product. To amend the term please select the new term here.
  12. Once selected, you will see the main product selection page. The existing mortgage product is highlighted with 'ported' in green next to it. You can proceed and ‘Generate Illustration’.

Porting options explained

There are multiple types of porting, please check below for extra instructions.

  • The customer will need to choose a valuation, which they’ll need to pay for once the application is submitted.
  • Complete the rest of the Full Mortgage Application (FMA). Enter: 
  • The new property address.
  • Bank details.
  • Confirmation of conveyancer.
  • Details of person to contact to arrange the valuation.
  • Once the application has been submitted, upload the required documents and take back control of the case.
What you need to know 

As the customer is porting an existing mortgage, incentives, such as a free valuation, will not be included.

The mortgage application for the product covering the additional amount will be called ‘New Purchase.’

To view the mortgage products being ported (classed as a new application), view the ‘further details section’ under ‘case summary’. 

  • Select the mortgage to be ported and amend the term (where applicable). 
  • Choose a new product, to cover the additional amount. To browse products, enter the repayment amount and term, then click ‘search’. 
  • Choose a rate for the product covering the additional amount. You will be shown both the product being ported and the additional product. 
  • Choose a valuation type. 
  • Complete the rest of the application as normal and pay the valuation fee on submission.
What you need to know 

The mortgage application for the product covering the additional amount will be referred to as ‘New Purchase’.

To view the mortgage products being ported which are classed as a new application, view the ‘further details section’ under ‘case summary’. 

  • You can port an existing buy to let and or/holiday let to another rental property via MSO. 
  • Please follow the same process as ‘Residential porting’.  
  • You will need to complete the BTL purchase application questions. 
  • Holiday lets that have a buy to let rate applied will be able to port the rate to another holiday let via MSO. 

When a customer is porting their mortgage simultaneously, their solicitor will contact us as they do now to obtain a Redemption Statement. 

  • If a customer is not porting simultaneously, the solicitor will get a Redemption Statement including the full ERC. 
  • Once the customer has located a new property to purchase (within the six months porting validity period*), they can have some of their ERC refunded. This depends on how much of the previous mortgage balance is continuing.

* The 6 months validity is from date redemption of the old mortgage. 

If a client who is looking to port their mortgage rate, also wishes to add an applicant to their mortgage, they will need to be added at the beginning of the application journey in MSO.

If a client who is looking to port their mortgage rate also wishes to remove an applicant from their mortgage, you will need to:

  • Search for the mortgage account in MSO using the mortgage account number. This will bring up all applicants associated with the existing mortgage.
  • You will then just need to add/select the applicant who is going to be on the new mortgage. This will allow you to complete the porting application as already explained without the other applicant(s).
  • Once ported, the applicant who is not on the new mortgage will not be able to port anything and they will be removed from the previous property at the point of sale.

Please get in touch with the intermediary helpdesk for help.

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Log in to MSO

If you are ready to submit a porting application log in to MSO to start. 

Submit application