Additional Mortgage Borrowing and Offsetting
Additional Mortgage Borrowing
As an existing customer you may be able to borrow more money against your mortgage by applying for a Further Advance. This is a a one-off additional lump sum of £5,000 or more. Further Advance borrowing is charged at our Standard Variable Rate, with a £199 arrangement fee. Please note, you can only apply for a Further Advance if your mortgage completed more than six months ago.
Offsetting
If you have a Scottish Widows Bank mortgage*, on a variable rate or 2 year fixed rate , you can use your savings to help save money on your mortgage at no extra cost.
- With our offsetting facility you can choose to benefit from either reducing the term of your mortgage, or reducing your monthly mortgage payment.
*not available on all Buy-to-Let mortgages, and Lifetime Mortgages with a fixed rate.
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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. |
To find out more or to apply, please call us on 0845 845 0829. Calls are charged at local rates from a BT landline - mobiles and other networks may vary. Our lines are open 8am to 6pm Monday to Friday (Wednesday from 10am).
