Existing Customers

Additional Mortgage Borrowing

As an existing customer there are two ways you may be able to borrow more money against your mortgage:

• By applying for a Further Advance – 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.
• By opening a Mortgage Reserve Account – if your main mortgage is for less than the maximum amount you could borrow, you can apply for a Mortgage Reserve Account if it's more than six months since your mortgage completed. This account has an agreed limit and you can withdraw and deposit money from it as you choose.

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.

To find out more or to apply, please call us on 0845 845 0829 – Monday to Friday 8am – 6pm, (Wednesdays from 10am).