Penny House

27/08/2026

Sometimes a mortgage with a higher interest rate can actually be the cheaper option.

Sounds completely backwards, but this is why I’m slightly obsessed with looking at the whole cost rather than one percentage.

Imagine you already have a large mortgage on a good fixed rate. You need another £100,000.

Remortgaging the entire balance might mean giving up that cheap rate, paying an ERC, putting the whole mortgage onto today’s pricing and potentially paying another set of fees.

Alternatively, you might leave the existing mortgage exactly where it is and raise only the additional money separately.

Yes, that smaller loan could have a higher rate. But that doesn't automatically make the overall structure more expensive.

This is why I never want to answer “What’s the cheapest rate?” until I’ve answered “What’s actually the cheapest way of achieving what you want?”

They’re not always the same thing.

25/08/2026

Being self-employed doesn’t necessarily mean your mortgage affordability starts and ends with the salary and dividends you’ve drawn.

This comes up all the time with business owners.

You might deliberately leave profit in the company rather than extracting everything personally. That can make perfect commercial sense — but it also means the income visible on the surface doesn’t always tell the whole story.

Different lenders can look at business-owner income differently, depending on the circumstances and the evidence available.

That’s why I’d always rather understand the business before deciding what someone can or can’t borrow.

Sometimes the problem isn’t affordability. It’s approaching the wrong lender with the wrong interpretation of the income.

If you own a business and have been told you don’t draw enough to get the mortgage you need, it may be worth another look.

10/11/2023

Well done Nationwide Building Society 👏🏻

15/02/2023

House Price Index 🏡

“I think we will see less of a property crash than many have been predicting”

Read our MD, Sofia Jones’ comments here:

Sofia Jones, Managing Director at London-based independent mortgage broker, Penny House: “Though annual price growth is now back in single digits,

06/02/2023

04/02/2023

Delighted to anounce that I am joining Penny House as Director of Growth, very excited to join a fab team

If you need any mortgage advise please drop us a line

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Penny House is a trading style of Penny House Financial Services Ltd which is authorised and regulated by the Financial Conduct Authority (FCA).