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Why take additional borrowing with your new mortgage deal?

If you’re looking to release money from your home and you’re not currently tied into an existing mortgage deal, this could be the most cost-effective way to borrow money. For example, if you’re looking to make home improvements or extend your property, it’s one way to achieve your goals.

When you borrow money against your property, you should think carefully about whether you can afford the higher monthly repayments. We’ll ask you to speak to our Mortgage Advisers when you apply.

How it works

You switch your existing mortgage to a new product and take additional borrowing at the same time, on the same terms and conditions. Fixed and tracker rate options are available, depending on your circumstances.

You also have the option of a repayment or interest only mortgage. Additional terms apply if you choose an interest only method.


If you’re thinking about applying for a new mortgage deal with additional borrowing, you might need to consider any applicable early repayment charge on your current mortgage deal. Some of our mortgages also include a fee.

If you take a mortgage with a product fee, you can choose to pay this upfront or add it to your mortgage. If you add the fee to the mortgage, you’ll pay interest on it at the same rate as the rest of your borrowing.

If you want, your funds can be sent to your nominated bank account (via CHAPS) and be available on the same day your loan completes. The charge for this is £30, which you need to pay before the funds are transferred.

Think carefully before securing other debts against your home. Don’t risk losing your home – keep up those mortgage repayments

How to apply?

Before you take any additional borrowing, we ask you to speak to one of our mortgage advisers, who will look at your current circumstances and discuss the product options with you.

Get started

To find out more please call us to discuss your options

Call us on

0345 602 8301

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