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Portable Financial Glossary

What is it? This describes the ability to move a particular mortgage product from one property to another in the event of a property move. This is particularly important if a fixed, capped, cash back or discounted product is taken where early redemption penalties are charged. If the product is not portable then a house move would involve the payment of early redemption penalties even if another mortgage was taken with the same lender.

Finance Term Definition Added By: Emily

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