What can the feature of portability in a mortgage provide to a borrower?

The portability feature in a mortgage allows a borrower to transfer the existing mortgage terms from their current property to a new property when they move. This is particularly beneficial because it means that the borrower can maintain their current mortgage rate, terms, and conditions rather than having to reapply for a new mortgage, which might come with different rates or fees.

This feature is advantageous in various scenarios, especially when market interest rates have increased since the time the original mortgage was secured. By porting their mortgage, the borrower can avoid higher rates on a new mortgage and leverage the favorable terms they already have.

The other options refer to different benefits that are not associated with portability. For instance, increasing the loan amount relates more to refinancing than porting. Reducing total interest over time can be a factor of rate negotiations or mortgage terms but isn't a direct consequence of the portability feature. Lastly, the ability to take on more mortgages easily pertains to credit management and lending criteria rather than the specific benefit of transferring mortgage terms.