Additional borrowing - FAQs

If you’d like to borrow more you can use our affordability calculator to give you an idea of how much you can borrow. Once you know how much you can borrow you can get a Decision in Principle (DIP) and then go on to choose your mortgage product. The minimum amount you can borrow is £5,000 if you're using it to make home improvements or £10,000 for non-home improvement purposes.

If you need advice, make an appointment in branch or give us a call on 0800 121 74 66. A Mortgage Consultant will discuss your current and future circumstances and will advise you of the most suitable product to meets your needs. You’ll need to allow around an hour for your interview.

You can use the loan for most purposes except to raise money for business purposes or to buy land or property to be let.

We'll send the money within 7 working days of you accepting the offer.

About 10 days after you receive your money we'll advise you of  your new mortgage payment and when it's due. Your first payment will generally be more than your normal monthly payment as it will include interest for the period between us sending the money and the end of that month, plus your standard monthly payment.  For example, if we sent the funds on 11 January, your first mortgage payment in February will include interest for 11-31 January as well as your standard mortgage payment for February.

To view our current range of mortgage deals and to see what your monthly payments could be, please visit our borrowing more section.

The term of any additional borrowing must not be longer than:

  • The term of your main loan; or
  • The 75th birthday of the eldest of the borrowers, whichever is the sooner.

Borrowers aged 75 or over can’t apply for additional borrowing.

If you don’t want to borrow it all back (eligibility applies), or remove the overpayment reserve, you’ll need to ensure your:

does not exceed 90% of the value of your home and that you can afford this amount of borrowing.