Porting a mortgage

[lulu_bucket]

We have two houses to sell, one with no mortgage so no problem and one with a mortgage of 100,000.(House value 230,000) We want to sell both and buy a house for 485,000 and port the mortgage of 100,000 over to the new house. We do not want to borrow any more money just move the mortgage across to a house worth a lot more than the original house we have the mortgage on. It is a tracker interest only payment mortgage at an excellent rate and HSBC say we cannot port it to another house? They will give us another mortgage for 100,000 but at a much higher rate than we pay now. Any body know if there is a way around this ?

[ubasses]

Have you read through all the paperwork for your Mortgage to ensure that it is not portable. If not might be worth doing so, because if it is in there in the small print they will not have any option.