Borrow more on your mortgage
Your home may be repossessed if you do not keep up your payments
Thinking about a home improvement, consolidating debt, or even a trip of a lifetime? Borrowing on your mortgage could be the answer.
Additional borrowing allows you to borrow a lump sum of money against your property, known as a secured loan. You can borrow up to 90% of your home's value to get the funds you need.
Why borrow more on your mortgage?
- Lower monthly repayments by paying it back over a longer period
- Borrow beyond the limits of a loan to fund bigger purchases
- Pay off existing debt quicker with the flexibility to make unlimited overpayments on your additional borrowing, as well as your mortgage
|Mortgage type||Minimum borrowing||Term|
|Capital repayment||£5000||2-40 years|
Before you apply
If you’re a Capital Repayment customer or would like to borrow more than the amount available in your Offset mortgage account, we’ll need to check your current income and outgoings, as well as your property and credit score. It should only take a couple of weeks from applying for your additional borrowing AIP to getting your money.
All borrowing is subject to your application status, lending criteria, valuation, and for some, to obtaining independent legal advice. Applying to borrow more money on your mortgage will have new terms related to the additional borrowing.
Lowering your monthly payments may mean paying more in interest over the full term of your loan.
You can make unlimited overpayments to your mortgage whenever you like – but you might have to pay an Early Repayment Charge if you repay your whole mortgage during the fixed rate period.
Think carefully before securing other debts against your home. Your home may be repossessed if you don't keep up repayments on your mortgage.