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Borrow more on your mortgage
Your home may be repossessed if you do not keep up your payments
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?
- you may be able to borrow more and over a longer term on a mortgage compared to a personal loan. This can lower your monthly payments, however please note this may mean you pay more in interest over the longer term of your mortgage
- you can make unlimited overpayments to your additional borrowing and your existing mortgage. If you repay your mortgage in full earlier than planned, you may have to pay an Early Repayment Charge
- lower monthly repayments by paying it back over a longer period.
| Mortgage type | Minimum borrowing | Term |
|---|---|---|
| Capital repayment | £5000 | 2-40 years |
Before you apply
If you're a Capital Repayment customer and would like to borrow more, you will need to check your current income and outgoings, as well as your property value and credit score. It should only take a couple of weeks from applying for your additional borrowing Agreement in Principle to getting your money.
Offset Mortgages were removed from sale 3rd April 2023. If you're an Offset Mortgage Customer and want to borrow more, please call us to discuss your options.
All borrowing is subject to your application status, lending criteria, valuation, and for some, to obtaining independent legal advice. We’ll let you know if this is needed for your application. Applying to borrow more money on your mortgage will have new terms related to the additional borrowing.
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.
If you have an Offset Mortgage you can redraw within your existing agreed mortgage limit (if available). If you need to borrow more than the amount available in your Offset Mortgage, please call us to discuss your options as our Offset Mortgage has now been removed from sale.
Think carefully before securing other debts against your home. Your home may be repossessed if you don't keep up repayments on your mortgage.
How to apply
Mortgages Repayment Customers
Apply for your Additional Borrowing Agreement in Principle today. Give our mortgage team a call on:
Offset Mortgage Customers
Log on to our App or Online Banking, from here you can see your available funds and simply redraw them from your mortgage into your selected account.
If you need to borrow more than the amount available in your Offset Mortgage, please call us to discuss your options as our Offset Mortgage has now been removed from sale.
Lines are open Mon to Fri 8am to 8pm, Sat 8am to 6pm and Sun 9am to 6pm.