What changed in 2025
In July 2025, the FCA expanded MAA so eligible borrowers can switch to a new lender if the new deal is more affordable than their current rate (or any retention offer).
Who typically qualifies for the MAA route?
- You’re up to date on payments (no recent arrears)
- You don’t need to borrow more (like‑for‑like balance)
- You’re not moving home
- Your new product is cheaper than your current rate/offer
- Your LTV is within lender limits (lower LTVs help)
Note: MAA use is at lender discretion — we match you to those actively supporting it.
Closed‑book lenders
Servicers like Heliodor/Topaz, Landmark, Bloom and ex‑NRAM typically don’t offer new products or further advances — switching away is the path.
RIO (Retirement Interest‑Only) for 55+
RIO allows interest‑only payments in later life, with repayment typically on sale of the property or the second borrower’s death/move into long‑term care. Affordability and LTV still apply.
How we get you off the high rate
- Eligibility check (same day): quick call + soft‑search where appropriate
- Document‑lite route: we target lenders using MAA first; we also assess RIO in parallel
- Options & savings: side‑by‑side illustrations (2–5‑year fixes; IO/RIO)
- Application & approval: we package it for speed; you sign; we chase to completion
What we’ll need: latest mortgage statement + 12m payment history, 3–6m bank statements, pension/income proofs, ID & proof of address.
Real‑world example (illustrative)
- Current: £230,000 interest‑only at 7.3% (SVR), payments up‑to‑date
- Profile: ~35% LTV, ages 58/59, strong payment track record
- Routes we’d run: MAA switch (no extra borrowing) and RIO (55+)
(Exact rates depend on lender/product at time of application; we’ll quote your tailored options.)
FAQ’s
What is the MAA?
A regulatory allowance that lets certain lenders consider payment history over full affordability to help eligible borrowers switch to a cheaper product (including to new lenders after the FCA’s 2025 update).
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.
What if I’ve got a Heliodor/NRAM mortgage?
Closed‑book servicers typically don’t offer new deals; we look to switch away to an active lender.
Am I eligible for RIO?
Typically 55+ with adequate equity and the ability to meet monthly interest. We’ll confirm with lenders’ criteria.