What changed in 2025
In July 2025, the FCA extended the MAA so eligible borrowers can switch to a new lender when the new deal is more affordable than the current mortgage or any retention offer. This unlocks options for many ‘mortgage prisoners’.
Who we help (closed‑book examples)
- Heliodor Mortgages (administered by Topaz Finance)
- Landmark Mortgages
- Bloom Homeloans (recent transfers from Landmark)
- NRAM / ex‑Northern Rock legacy books
* Brand names used for context only; no affiliation implied.
Quick eligibility check
- Up‑to‑date on payments (no recent arrears)
- Like‑for‑like balance (no extra borrowing under MAA)
- Not moving home
- New product is cheaper than current rate/offer
- LTV within lender limits (lower LTVs help)
- Ages 55+ may also fit RIO
How we switch you
- Same‑day triage and soft search where appropriate
- Target lenders using MAA first; assess RIO in parallel for 55+
- Side‑by‑side options: 2–5‑year fixes; IO/RIO
- Application, packaging and case‑handling to completion
What we’ll need: latest mortgage statement + 12m payment history, 3–6m bank statements, pension/income proofs, ID & proof of address.
MAA vs RIO vs Standard — at a glance
|
Feature |
MAA (Mortgage Prisoner Switch) |
RIO (55+) |
Standard Remortgage |
|
Typical age requirement |
None specific |
55+ (both borrowers if joint) |
18–75+ (varies) |
|
Purpose |
Switch like‑for‑like to cheaper deal |
Later‑life stability on IO |
New borrowing or new deal |
|
Income check |
Relative affordability based on payment history (lighter) |
Full affordability on sustainable later‑life income |
Full affordability |
|
Borrow more? |
Generally no |
Possible, subject to affordability/LTV |
Yes, subject to affordability/LTV |
|
Max LTV (typical) |
Varies; lower LTVs favour approval |
Often up to 55–60% |
Up to 90–95% (product dependent) |
|
Repayment |
As per existing structure |
Monthly interest; capital repaid on sale/2nd death/long‑term care |
Capital & interest or IO |
FAQ’s
What is the Modified Affordability Assessment (MAA)?
It allows some lenders to consider your payment history rather than full affordability to help you switch to a cheaper product. As of July 2025, eligible borrowers can switch to a new lender if the new deal is more affordable.
Do all lenders offer MAA?
No — participation is optional. We target lenders currently supporting it.
Can I borrow more?
Generally no under MAA (like‑for‑like). If you need extra borrowing, we’ll assess standard IO/RIO or other options.
Are Heliodor/Landmark/Bloom/NRAM offering new deals?
Closed‑book servicers typically don’t offer new products or further advances. Our role is to help you switch to an active lender.
What about RIO if I’m 55+?
RIO can provide long‑term stability on interest‑only; affordability and LTV still apply.