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Need to borrow more?

Want to borrow more on your mortgage?

If you already have a Family Building Society mortgage you could borrow more against the value of your home.

As an existing Family Building Society borrower, and subject to satisfactory maintenance of your mortgage, you could be eligible to apply for additional borrowing on your current mortgage.

Additional borrowing (also referred to as 'further advance') on your mortgage can be used to pay for home improvements, such as double glazing or a new kitchen, or it can be used in order to raise capital for another purpose, such as school fees or a new car.

The minimum loan amount that we will consider is £2,000, provided this does not take the total outstanding borrowing above our maximum loan to value (LTV) limit of 75% (the LTV may vary depending on the product selected).

 

Who can apply?

You can apply to borrow more on your mortgage provided your mortgage has been with us for at least six months and you are up to date on your repayments.

How does it work?

  • Step 1 - Start by contacting our New Business Team on 03330 140141 or by using the Additional Borrowing Call Me Back form.
    They’ll go over some basic information with you including how much you would like to borrow and what for. They’ll need to know about your income and outgoings to make sure you can afford the additional borrowing and they’ll check that the additional borrowing meets our lending criteria.
  • Step 2 – After our New Business Team have reviewed your circumstances, they’ll refer you to our Mortgage Advice Team who will go through your circumstances in detail and help you to choose a product. This advice is free of charge from our in-house team, or you can choose to use your own adviser (they might charge you for this).
  • Step 3 – Submit your application along with any supporting documents (there is a list of what’s required on our application form) and the £125 Application Fee. We’ll assess this and if necessary, revalue your property.
  • Step 4 – We’ll provide you with a Mortgage Offer for the additional borrowing. A copy of this will also be given to our in-house Legal Team who will contact you with some short forms to be completed.
  • Step 5 – Once the Legal Team have carried out the necessary searches and received the forms back from you we can arrange to send you the additional borrowing monies (this is called “completion”).

Any questions?

If you have any questions and are unsure what mortgage product would be suitable for you you can arrange an appointment or speak to a customer representative. You can get in touch in the following ways:

Email us Call us on 03330 140140 Request a call back

  
When you submit your application there is a £125 Application Fee. This fee includes the cost of revaluing your property if we need to. There will also be some legal fees to pay which are £100 plus disbursements.
Usually between 6 and 8 weeks.
Possibly but this will depend how much more you want to borrow and what your property was valued at when you took your mortgage with us.
To ensure that you can afford the increased mortgage repayments that will apply after your additional borrowing completes.

Our current interest rates can be found on our Owner Occupier and Buy to Let mortgages for addition borrowing pages.

We’ll send you an Application Form after you’ve spoken to our Mortgage Advice Team.
Yes, we’ll need to know what improvements you’re planning to make. We’ll also need to see
estimates from your tradesmen detailing the cost of these works as well as any planning permission approval that applies.
We’ll need to know how much rent the property generates and we’ll need to see a copy of your current tenancy agreement. You can also skip the Advice part of the application process but if you would like to receive advice you can use your own adviser for this.

Owner Occupier products

We offer a wide range of Owner Occupier mortgage products available for additional borrowing.

Individual Buy to Let products

We offer a range of individual Buy to Let mortgage products available for additional borrowing.

Limited Company Buy to Let products

See our range of Limited Company Buy to Let mortgage products available for additional borrowing.

Family assisted mortgage products

We offer a number of family assisted mortgage products available for additional borrowing.

Expat Owner Occupier products

We offer a range of Expat Owner Occupier mortgage products available for additional borrowing.

Expat Buy to Let products

We offer a range of Expat Buy to Let mortgage products available for additional borrowing.

Retirement Interest-Only mortgage products

We have a range of Retirement Interest-Only mortgage products available for additional borrowing.