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Selling a House With a Mortgage: How It Works

Your solicitor repays the lender from the sale.

Selling a House With a Mortgage: How It Works Residential Property Services in London

Updated October 2026 · Fraser Bond

Selling · Mortgages

Selling with a mortgage

Redemptionstatement
ERCscheck
Portthe deal?
Negativeequity
In short: Most people sell with a mortgage still outstanding. On completion, your solicitor uses the sale money to repay the lender, using a redemption statement, and pays you the balance after fees. Check for early repayment charges, and whether you can port your mortgage to your next home to avoid them. If you owe more than the home is worth, you'll need your lender's agreement and a plan for the shortfall. To maximise your profit, price realistically, present the home well and choose an agent on results.

Frequently asked questions

Do I need permission to sell?

Not usually, unless in negative equity.

What is porting?

Moving your mortgage to a new home.

Thinking of selling?

Talk to our team or get a free valuation.

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