Further Advance

 If you're looking to borrow more money on top of your existing mortgage, a further advance could be a simple way to unlock extra funds often used for home improvements, debt consolidation, or investing in another property.

We help you explore your lender’s criteria, compare rates, and assess whether a further advance is the right choice for your goals.

A further advance is additional borrowing from your current mortgage lender, secured against your property. It's essentially a top-up on your existing mortgage, usually offered as a separate loan with its own rate and repayment terms.

Lenders will assess your affordability and current equity before approving the extra borrowing.

The amount you can borrow depends on your current mortgage balance, property value, and income. Most lenders will only allow borrowing up to a certain loan-to-value (LTV) percentage, so having enough equity is key.

We’ll calculate your available equity and help you understand how much extra borrowing might be possible based on your lender’s criteria.

Common reasons include major home improvements, funding a deposit for a buy to let property, or consolidating debts into one monthly payment. Lenders often require you to confirm how the funds will be used, and this can impact whether the loan is approved.

We'll guide you on how to present your application clearly and meet the lender’s expectations.

It depends on your current mortgage deal, exit fees, and how much you want to borrow. If your existing rate is competitive or fixed for a long term, a further advance may be a cost-effective way to avoid remortgaging the entire balance.

We’ll compare both options for you factoring in interest rates, fees, and flexibility so you can make an informed decision.

If your lender can’t offer the amount you need or their rate is no longer competitive, we’ll help you look at alternatives such as a remortgage or a secured loan through a different provider.

Your circumstances and future plans matter, so we’ll make sure any advice fits your wider financial goals.