Take out a loan alongside your current mortgage product
This is a loan at a different rate to your current mortgage product and has a variable rate of interest. This might be the best option if your mortgage is still within an introductory product period.Securing a loan with your mortgage
Transfer your existing mortgage and any additional borrowing to a new mortgage deal
This is where you switch your existing mortgage to a new product and borrow any extra you need at the same time, on the same interest rate.A new mortgage deal with additional borrowing
How much can I borrow and for how long?
- The minimum you can borrow is £3,000.
- The maximum depends on how much equity you have. If you have a residential mortgage you may be able to apply to borrow up to 85% of the property value (existing mortgage plus additional borrowing). The maximum you can borrow is £2 million.
- Buy-to-let customers can borrow a total (mortgage plus additional borrowing) of up to 80% of the property value, up to £1 million.
- You can choose to pay back any additional borrowing over 5 to 35 years. That said, the repayment term of any extra borrowing can’t be longer than the term left on the original mortgage.
- For residential mortgages, the maximum age at the end of the mortgage term is 75 years and 364 days.
- For buy-to-let mortgages, the maximum age at the end of the mortgage term is 85 years and 364 days.
- Lending is subject to affordability, income confirmation, status, and a satisfactory valuation of the property. Policy restrictions and terms and conditions apply.