MFP is a specialist lending division of Bond Finance Ltd
MFP is a specialist lending division of Bond Finance Ltd
Interested in refinancing a residential property in the UK? We can help. Since 2007, we’ve worked with professionals to identify the best types of mortgage products, and we can help you too.
A remortgage means you’re switching your existing mortgage to a new deal, either with your current lender or a new one. Many homeowners change their mortgage for a variety of reasons, including:
You pay off both the interest rate and the capital over time. By the end of the term, your mortgage is paid in full. Higher monthly payments come with a risk.
You only pay the interest during the term. At the end of your term, the full balance is still owed. This requires a repayment strategy such as savings, investments, or the sale of a property.
Repayment is typically better for long-term stability. Interest-only may appeal to contractors, consultants, or landlords with flexible income. Additionally, some lenders offer interest-only to high-income professionals with robust financial plans.
There are multiple mortgage repayment methods available. Here are a few of the various types available.
If you’re looking for better rates and you’re a professional, then a professional-only mortgage product could be a good option for you.
The specific mortgage types available to professionals offer a host of benefits, including:
Interested in a professional-only mortgage? Contact our team for mortgage advice and to learn more.
Capital Repayment
Standard method, pay capital and monthly interest. Balance reduces easily over time.
Interest-only
Monthly payments only cover interest. You’ll need a repayment vehicle for the capital.
Off-set Mortgages
Link your savings to the mortgage, reducing the balance interest is charged on.
Professionals benefit from flexible terms such as no early repayment charges, options to overpay or make lump-sum reductions. Tailored terms to fit bonuses, dividends, or fluctuating income are also positive for professionals.
If you’re a professional and want mortgage advice you can trust, we can help. As specialist mortgage brokers in the UK, we work with professionals regularly.
Generic mortgage advice simply doesn’t cut it when it comes to professionals. Because your income often includes bonuses, dividends, or hourly contracts, it can be difficult to predict your income levels over time. Lenders often don’t understand limited company structures, as well. You need a translator.
Specialist brokers do it differently.
We present income in a way that lenders can understand and accept. We also match you with lenders familiar with professional income and provide access to whole-of-market options, not just one lender.
What if you have bad credit or unusual income? We can help there, too.
Professionals may face a host of income challenges, including historic late payments or missed credit card bills, income that varies month to month, and gaps in employment due to contract work.
The good news is, there are lenders who work with and specialize in adverse credit remortgages and use your latest year of income or projected future earnings to determine your mortgage payment options.
As your mortgage brokers, we match you with lenders based on your credit profile. We also help package your application with supporting documentation to prevent common application errors that trigger rejections.
Yes, in most cases, you can remortgage up to 6 months before your current deal ends. Be aware that early repayment charges (ERCs) can pile up. A broker can help you assess if it’s still cost-effective.
Most remortgages take 4-8 weeks, depending on the lender and property checks. Have your documents ready, including proof of income, ID, and mortgage statements, to speed up the process.
A remortgage refers to the process of switching your current mortgage to a new lender or renegotiating the terms of your existing deal.
If your income and credit are stable, it should be straightforward. If you’re a professional with a variable income, it can be more complicated to remortgage.
Options exist, especially with specialist mortgage brokers and lenders.
Sometimes, yes. If you’re remortgaging with a new lender, legal work is usually required. Some lenders offer free legal services or allow you to choose your own solicitor.
Speak with a specialist mortgage broker who understands your profession. We’ll assess your circumstances, compare the best rates, and guide you every step of the way — with clarity, speed, and expertise.
Let your mortgage work for you. Connect with our team of seasoned mortgage brokers and get a deal that makes sense for your income and career.
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