Spring Movers: Why Equity Doesn't Always Equal Deposit

Spring is the Super Bowl of the UK property market. The sun comes out, gardens suddenly look charming again, and everyone decides this is the year they’ll finally move. Estate agents get busy, Rightmove tabs multiply, and conversations about kitchen islands become strangely frequent.

But while spring brings opportunity, it also brings two very common home-mover headaches:

1. “Are we actually ready to move?”

2. “Do we really know how much deposit or equity we have?”

Let’s unpack the figures...

The Spring Market: Why Everyone Moves at Once

Spring has long been the busiest period for property activity in the UK. Homes show better when gardens are blooming, daylight lasts longer for viewings, and families want to move before the next school year begins.

And 2026 looks like a fairly steady year for the housing market.

• The average UK house price recently passed £300,000 for the first time, according to Halifax data. (Forbes)

• Experts expect prices to rise between roughly 1% and 4% in 2026, depending on the forecast. (Morningstar Global)

• Over the longer term, analysts expect continued growth due to the UK’s ongoing shortage of housing supply. (MoneyWeek)

In other words: the market isn’t wildly booming, but it is moving — and spring is when many buyers and sellers jump in.

Which is where the big questions begin...

“Are We Actually Ready to Move?”

A surprising number of people start browsing homes before checking whether they’re financially ready. We’ve all done it. You open a property website “just for a look” and suddenly you’re planning where the sofa will go in a house you technically can’t buy yet.

Before diving too deep into house-hunting, it helps to check these things:

1️⃣ Your Current Property Value

If you already own a home, your equity will likely form a large part of your deposit for the next property. Equity = Current property value – remaining mortgage balance

Example:

• Current home value: £320,000

• Remaining mortgage: £240,000

Your equity = £80,000

That equity is what most home movers use as the deposit when buying their next home. But moving comes with additional costs.

2️⃣ Your Mortgage Position

If you’re currently on a fixed-rate mortgage, this can affect your moving plans. Many homeowners don’t realise that leaving a fixed deal early can trigger early repayment charges (ERCs).

However, some mortgages allow something called porting. Porting a mortgage means transferring your existing mortgage deal to your new property. While this may allow you to keep a good deal and avoid ERCs, you do have to apply again with the lender and your affordability will be reassessed. The new property also has to pass the lender's valuation and criteria checks.

If the new home is more expensive (which it usually is), you may also need additional borrowing, which will be offered at the lender's current rates. So while porting can save you money, it's not guaranteed and you may end up with two 'parts' to your mortgage, on different interest rates.

Deposit & Equity Confusion

The second big issue home movers face is understanding how much deposit they actually have once all the costs are considered. Between property equity, savings, fees, and mortgage borrowing, the numbers can get confusing quickly. Let’s look at a practical example.

Example: Upgrading to a £400,000 Home

Imagine you’re moving up the ladder and want to buy a property worth £400,000.

Based on the above scenario, you may have £80,000 equity in your home.

After selling costs (estate agent fees are usually between 1-3%) and legal fees (£1000-£1500 for a sale), you might realistically have around £70,000 available for a new home.

That could cover:

• Deposit (5% is the minimum most lenders would accept, but 10% or more would secure you better rates)

• Stamp duty (£10,000 on a £400k purchase for a home-mover)

• Legal fees (which could be betweem £1700-£2500 for an onwards purchase)

• Moving costs

And possibly still leave some spare for furniture… or at least for replacing the kettle that mysteriously disappears during every house move.

The Mortgage Reality in 2026

Mortgage affordability is still a big factor in the market. While wage growth has recently outpaced house price growth — improving affordability slightly — borrowing limits and interest rates still shape what buyers can afford. (Forbes)

This is why getting clarity early is so important.

Before starting serious house hunting, it’s worth confirming:

• How much you can borrow

• Whether your mortgage can be ported

• Whether you’ll need additional borrowing

• How much deposit you’ll realistically have after selling

Because nothing kills the excitement of finding the perfect house faster than discovering the maths doesn’t quite stack up.

Final Thoughts

Spring is an exciting time to move. More homes come onto the market, more buyers are active, and the longer days make everything feel a little more possible. But the most successful movers aren’t the fastest — they’re the most prepared.

Happy house-hunting! 🏠