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Borrow more on your mortgage
Additional borrowing is a convenient way for you to release the value tied up in your property. It could be perfect if you want to fund the ideas you have for your home.
We offer mortgages for both Bank of Scotland and Halifax
Borrow more on your mortgage
Key features:
- Minimum borrowing is £5,000.
- No arrangement fee.
- You must have had a Bank of Scotland mortgage for more than 6 months.
- Your payments must be up-to-date for the three months before you apply.
- Our mortgage advisers will recommend which loan best fits your needs and circumstances and how it will affect your monthly mortgage payments.
- Additional borrowing is subject to valuation, income, affordability and credit checks.
Is borrowing more on your mortgage right for you? Try our borrowing options tool.
Built up reserves
If your mortgage was originally with IF and you’ve previously overpaid your mortgage, you may have a built-up-reserve. You can see if you have on your latest mortgage statement.
Key features:
- Minimum borrowing £1,000.
- No arrangement fee.
- You must have at least 3 years remaining on your mortgage.
- Your payments must be up to date before you can apply.
- Subject to valuation, income, affordability and credit checks.
To apply for a built up reserve call us.
Personal choice mortgages
If you have a Personal Choice mortgage you are given an automatic further advance of 5% of the lower of the purchase price or property value on completion of the mortgage. You can access the 5% by calling us.
How to apply
If you're a Bank of Scotland customer, to apply for additional borrowing you can call us.
Be aware that our mortgage advisers will ask you about your needs and circumstances and then recommend our most suitable mortgage for you.
This is not available if you have an offset mortgage but you can choose to remove offset.
If you're a Halifax customer, see how to apply for additional borrowing.