Mortgages in North London – Expert Advice That Gets Results
At PL Mortgages London, we understand the mortgage game in North London inside and out. Whether you’re a first-time buyer, an investor looking for a strong rental yield, or a homeowner trying to beat the lender’s standard variable rate (SVR), securing the right mortgage here isn’t about luck—it’s about knowing how lenders think.
Lenders don’t approve mortgages based on gut instinct. They follow affordability algorithms, debt-to-income (DTI) ratios, and property risk assessments. The trick isn’t just filling out an application and hoping for the best—it’s knowing how to structure the deal so that the underwriter sees it as a low-risk, high-value proposition.
You want a mortgage? You need a strategy. And that’s what we deliver.
We know how lenders think, what their underwriters want to see, and how to structure your mortgage application the right way—so it gets through first time.
Remortgaging? Don’t Fall Into the Standard Variable Rate Trap
If your current mortgage deal is ending and you do nothing, your lender automatically switches you to their standard variable rate (SVR)—which is usually 2-4% higher than the best available fixed rates. That’s an extra £300 or more per month on an average mortgage.
We compare the best remortgage deals and secure approvals before your SVR kicks in.
- Reduce your monthly payments – Lock in a lower fixed rate before the Bank of England raises interest rates again.
- Release equity for home improvements – Use your home’s increased value to fund an extension, loft conversion, or major renovation.
- Debt consolidation mortgages – Convert high-interest debts into a lower-interest mortgage, reducing your overall monthly repayments.
- Switch lenders for a better deal – Sticking with your current lender isn’t always the best move. We compare multiple options to ensure you’re not overpaying.
Most homeowners don’t know that sticking with the wrong lender can cost them thousands over the term of their loan. We make sure that doesn’t happen.
Buy-to-Let Mortgages – Don’t Let Stress Tests Cut Into Your Profits
- Offer lower rental stress tests – Some banks require rental income to cover 145% – 160% of mortgage payments at a 5.5% stress rate. We find lenders with lower stress thresholds, making it easier to secure financing.
- Allow buy-to-let mortgages with 15% deposits – Most require 25% down, but specialist lenders offer high-LTV investment mortgages.
- Accept SPV and limited company mortgages – Buying through a limited company is often more tax-efficient, but not all lenders offer competitive rates. We know which ones do.
- Approve HMO and multi-unit freehold loans – Many lenders refuse these property types. We secure funding from those who specialize in high-yield rental strategies.
Self-Employed or Contractor? Don’t Let a Lender Punish You for How You Earn
Most banks still rely on outdated lending criteria for self-employed applicants. They assess income based on salary and dividends, ignoring retained profits, multiple income streams, or tax-efficient withdrawals.
We place applications with lenders who:
- Accept one year’s accounts instead of two – Crucial for new business owners.
- Recognize retained profits in limited companies – Not just salary and dividends.
- Use day-rate calculations for contractors – Instead of fixed annual earnings.
High-street banks are rarely the best option for self-employed borrowers. Specialist lenders assess income differently, allowing for higher mortgage approvals.
Credit Problems? Lenders Say No? Here’s How We Fix It.
If you’ve had a CCJ, default, missed payments, or a debt management plan, most banks won’t even look at your application. That doesn’t mean you can’t get a mortgage—it just means you need a lender who specializes in complex cases.
- Missed mortgage payments – Some lenders approve cases if payments have been up to three months late.
- Debt management plan (DMP) – Certain lenders approve applications even if you’re still in a DMP repayment plan.
- Low credit score – Some banks ignore credit score thresholds if income and affordability check out.
Every rejected mortgage application stays on your credit file, making it harder to get approved in the future. We place applications with the right lender the first time—so you don’t waste time, money, or credit score points.
Frequently Asked Questions
Most lenders require 5% for first-time buyers, but 10-15% deposits get better rates.
Yes, but it depends on how recent they are. Lenders offer mortgages to those with older CCJs or defaults that have been satisfied.
Most lenders offer 65-75% LTV, but specialist lenders can go up to 80% with strong income projections.
Most lenders require your rental income to cover at least 145% of your mortgage repayments at a 5.5% stress rate.
Not always. Many reject flats above commercial properties, high-rises, or those with cladding issues.
Next Steps – How We Get You Approved Without the Headache
If you want a mortgage in North London, you need a strategy, not guesswork.
Lenders don’t approve mortgages based on effort. They approve them based on risk profiles, underwriting criteria, and precise deal structuring.
We handle all of that—so you don’t waste time, money, or credit score points on the wrong application.
Start your mortgage journey today.
