A mortgage that can be moved from one property to another. Portable mortgages were introduced by E*TRADE in 2003, under the name "Mortgage on the Move".

• The main advantage of a portable mortgage is the ability for a borrower to lock in today's low interest rates and take the loan with them when they move into a new house a few years down the line. One of the cons is that the mortgage will typically be priced slightly higher than a traditional loan (3/8 to 1/2 a percentage point higher).

• For more information, go to www.portablemortgage.com