If you’ve had your mortgage with us for at least six months and you’ve made six consecutive monthly mortgage payments, you can apply to borrow more.
You might need some help to pay for essentials like home repairs or improvements. As long as you can afford it and your total borrowing is less than 95% Loan to Value on a repayment mortgage, 50% on an Interest-only mortgage (65% LTV if self-employed) or 75% on a Buy to Let mortgage, you could apply to borrow more money.
Further borrowing for Buy to Let mortgages is available subject to lending policy.
How much could I borrow?
To work out how much you could borrow, we’ll consider the value of your property, and take into account your income, financial commitments and our lending criteria.
You'll effectively be taking out a new mortgage for the extra borrowing. But we can arrange for you to make one monthly payment that covers both your existing mortgage and your new one.
If you’d like to talk to us face-to-face, then you could speak to one of our specialist mortgage advisors about how much you’d like to borrow. We don’t have advisors in all our branches but if you call us on 0800 121 6263, we'll be able to help.
Alternatively, you can speak to one of our mortgage advisors in our Customer Service Centre.
As a minimum, you’ll need your most recent payslip or your accounts if you’re self-employed.
How it works
Applying to borrow more on your mortgage is easy. Here's what to expect:
1. Talk to us
Call us on 0800 121 6263.
We’ll ask questions about the property and assess your ability to make the monthly repayments.
2. We’ll send you an illustration
This will show details of the additional borrowing, which mortgage we recommend, any extra insurance requirements and our responsibilities to you.
3. Complete the application form
You'll need to complete, sign and return the application form to us.
4. We make a decision
Your application goes straight to our in‐house underwriters. They check the details, your income and the current value of your property.
5. We make an offer
If everything looks fine, we send you a mortgage offer. You’ll need to check it, sign it and return it to us.
6.The money is yours
After we’ve received your signed agreement, we send you your money – and you start making your monthly repayments.