Additional borrowing | Mortgages

Why choose a secured loan?

You might want to choose a secured loan instead of transferring to a new mortgage deal if:

You aren’t ready to re-mortgage – you might be thinking about a move soon and aren’t ready to commit to a new mortgage deal.
You’re tied into an initial product rate – you may not want to trigger early repayment charges on your current mortgage.
You’re looking for flexibility – you might want to pay off your extra borrowing quicker than your mortgage, without having to pay any early repayment charges.

It’s important to think carefully about whether borrowing money against your home is the best option for you.

How it works

You can arrange a loan alongside your main mortgage on a variable rate of interest. There won’t be any changes to your current mortgage deal.

Our current residential additional borrowing loan rate is our Standard Variable Rate (SVR) less 2.5%.

Our Buy To Let (BTL) additional borrowing loan rate is our Buy To Let Variable Rate (BTL VR) less 2.5%.

Additional borrowing can be taken on a repayment or interest only basis. Additional policy restrictions may apply.

Representative example

A mortgage of £40,000 payable over 13 years on a variable rate of 6.99% for 13 years, would require 156 monthly payments of £388.75, plus one initial interest payment of £229.80.

The total amount payable would be £60,874.80 made up of the loan amount plus interest (£20,874.80).

The overall cost for comparison is 7.2% APRC representative.

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

Opening times

We're here from 8am - 6pm Monday to Friday and 9am - 1pm on Saturday.

Call charges and information

Number	Cost
03 numbers	Same as calls to 01 or 02 numbers and they are included in inclusive minutes and discount schemes in the same way.
084 numbers	Maximum of 7p per minute, plus your phone company's access charge.
087 numbers	Maximum of 13p per minute, plus your phone company's access charge.
0800 numbers	Free from UK landlines and personal mobile phones.

Borrow more without a new mortgage deal