Why you’re stuck
Bloom Homeloans is part of the closed‑book market. Closed‑book servicers typically don’t offer new products or further advances. Instead of a product transfer, the practical route is to switch to an active lender.
Your switch options
- MAA (Modified Affordability Assessment): like‑for‑like balance; based on payment history; new deal must be cheaper.
- RIO (55+): later‑life interest‑only; affordability and LTV still apply.
Quick eligibility check
- Up‑to‑date on payments (last 12–24 months)
- No extra borrowing under MAA (like‑for‑like)
- Not moving home
- Lower LTVs help (e.g., ≤ 60%)
- Ages 55+ may fit RIO route
What we’ll need
- Latest mortgage statement + 12m payment history
- 3–6m bank statements
- Pension/income evidence
- Photo ID + proof of address
Useful specifics
- Bloom Homeloans appears in the closed‑book context (including transfers from Landmark portfolios).
- Our focus is securing a cheaper deal with an active lender via MAA or RIO.
- We’re independent and not affiliated with Bloom Homeloans.
FAQ’s
Why is Bloom associated with my mortgage now?
Some portfolios have been transferred between administrators; this doesn’t change your ability to explore switching options.
Is a letter required for MAA?
Not always; we can assess eligibility based on your payment history and current terms.
How long does a switch take?
Timelines vary by lender, but strong documentation shortens the process.
Get your free eligibility check
Compliance
- No advice implied until a suitability assessment is completed.
- MAA availability and lender participation vary over time.
- Your home may be repossessed if you do not keep up repayments on your mortgage.