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.
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.
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).