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Additional borrowingOnce you have a mortgage with us, we may also be able to provide you with additional funds for a wide variety of purposes. You may want extra funds to build an extension for your growing family, for a new kitchen, to buy a new car, purchase a second home in the UK or to go on a dream holiday. Our range of additional loans allows you to use some of the value in your home to help you get the things you want. All our additional borrowing options have common features:
Current additional loans We constantly monitor market conditions to ensure our loans offer you long-term value for money. This means that our additional loans range changes from time to time to meet customer needs and market conditions. Refer to our Flexible Home Energy Efficiency Additional loan We currently offer a Flexible Home Energy Efficiency Additional loan for you to purchase energy saving measures for your home. view the product details or refer to the What other costs might there be? If you decide to take one of our current additional loans you may be charged a product fee, this depends on the product chosen. If the total loan exceeds 75% of your property's value, a revaluation will be necessary for which a fee is charged. Please ask for more details. Repaying your additional loan Your additional monthly payment for your additional loan will be collected along with your main mortgage payment each month. You can choose the period over which you repay the additional loan, either spreading the monthly payments over the term of your main mortgage or over a shorter period if you want. When can you apply? In order to apply for an additional loan, your mortgage must have been open for at least 6 months and all monthly payments made on time. |
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