Mortgage Further Advance

Additional borrowing is sometimes necessary and a further advance may be a helpful option if your property has increased in value since you bought it and you don’t want to remortgage or switch lenders.

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How do further advances work?

A further advance allows you to borrow more money from your mortgage lender, however this will be at a different rate to your mortgage.

Plus, as you’re not technically remortgaging, there shouldn’t be any effect on your existing mortgage.

This is a popular choice for borrowers who are looking for a long term loan with a competitive interest rate and do not want to remortgage.

What will you use it for?

There are four common reasons why you may consider a mortgage further advance:

  • You’re looking to raise funds for a second property
  • You need cash to improve your existing property
  • You want to consolidate your debt into one monthly payment
  • You’re looking for cash to pay for a wedding, university fees or other lifetime events.

Ready to talk finance?

Call us and speak to one of our experts

02920 766 565 Request a Callback