Why you’re stuck
SPML (Southern Pacific Mortgages Limited) operates in, services or is associated with closed‑book mortgage portfolios that typically do not offer new products or further advances. 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
- SPML loans have been administered by various servicers; borrowers often face closed‑book constraints.
- We’ll check MAA eligibility based on payment history and relative affordability; RIO (55+) also considered.
- We’re independent and not affiliated with SPML.
FAQ’s
Why am I with a different servicer now?
Legacy portfolios move between administrators; this doesn’t block a switch.
Can I borrow more under MAA?
Generally no — MAA is like‑for‑like. For extra funds, we assess standard remortgage/second‑charge routes.
Do you handle conveyancing?
We can recommend panel solicitors familiar with remortgage prisoner cases.
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.
- Brand names used for context only; no affiliation implied.