Compare Mortgage Rates from Hyalite Mortgages Against the Market starting at 3.96%

About Hyalite Mortgages

Hyalite Mortgages is a UK-based mortgage provider and a trading name of Topaz Finance Limited. Their parent company has been active since 2006 and offers residential and buy-to-let mortgage products and services.

In October 2023, they acquired the mortgage business of Bradford & Bingley and Mortgage Express when they ceased operating as lenders. As a result, scores of their mortgage customers were automatically moved onto agreements with Hyalite Mortgages.

If you were moved onto a Hyalite mortgage and wish to review all of the potential alternatives, you can use our free mortgage sourcing tool below to browse deals from across the market:

Do Hyalite offer mortgages to new customers?

No. The only mortgages on their books are the existing ones they inherited from Bradford & Bingley and Mortgage Express when those lenders left the market in 2023.

Existing customers from Bradford & Bingley and Mortgage Express were automatically transferred over to Hyalite Mortgages when they acquired their mortgage businesses.

Anyone who was on a Bradford & Bingley and Mortgage Express agreement will have been transferred to an identical deal with the same rate under the Hyalite banner.

Your options if you were moved onto a Hyalite mortgage

Although Hyalite doesn't offer new mortgage deals, you can make changes to your existing mortgage with them if you were switched over from one of the defunct lenders it acquired.

It is possible to request the following changes to your Hyalite mortgage online:

• Make overpayments
• Switch to or from an interest-only mortgage
• Apply to borrow more
• Change your term length
• Request to take in a lodger
• Request to live in your buy-to-let property
• Request a mortgage payment holiday
• Change your mortgage type from residential to buy-to-let

You also have the option to find a new lender and move away from Hyalite.

What happens when your introductory rates period ends?

As Hyalite doesn’t offer new mortgages, you will be placed on their standard variable rate (SVR) when your introductory rates period ends. This will almost certainly mean paying a lot more for your mortgage, so it is in your best interest to find a new lender.

It is recommended that you start searching for a new lender to remortgage with at least six months before your initial rates period ends. This is something our brokers can help you with - they have access to every lender in the UK market and can weigh up all of your options, help you choose the right one, and close the deal before your initial rates period ends.

What are your options if you can’t remortgage?

Following Hyalite Mortgages’ acquisition of Bradford & Bingley and Mortgage Express’ mortgage customers, some borrowers are at risk of being stranded on the lender’s costly standard variable rate because they do not fit the criteria for a remortgage elsewhere.

If this applies to you, you are what is often referred to as a ‘mortgage prisoner’. Being in this situation can be stressful and disheartening, but there could be options available.

Firstly, you should speak to a mortgage broker about your circumstances, as they will offer impartial advice and lay our every possible solution for you, which may include:

• Finding a specialist lender who is sympathetic to mortgage prisoners
• Overpaying on your mortgage to make the debt manageable
• Increasing your equity to improve your eligibility for a remortgage
• Sell up and downsize

How Money Helpdesk can help Hyalite Mortgages customers

If you were placed onto a mortgage with Hyalite, our brokers can help you. We will review all of your options and help you choose the right one for your needs and circumstances.

If it’s in your interest to make changes to your existing mortgage with Hyalite, they will advise you accordingly, but they will also scour the entire market to see whether there’s a better deal out there. If there is, they will guide you through every step of the remortgage process.

For borrowers who cannot remortgage, our brokers can provide impartial advice and connect you with a lender who specialises in providing solutions for mortgage prisoners - get started with a free, no-obligtion chat with one of them here.