What is top slicing and how does it work?
Ever since the disastrous mini-Budget back in September 2022, mortgage affordability has been stretched. Lenders have tightened their criteria, and interest rates have risen, making it not only harder to get a Buy to Let mortgage, but also remortgage onto a new deal for existing landlords. As a result there’s a number of landlords who are leaving the market, having no choice but to sell up when faced with unaffordable mortgage costs. If you’re struggling to pay your current Buy to Let mortgage, or are worried about remortgaging onto a new deal, you might have heard of top slicing as a possible solution. But what actually is it? Find out below.