Whether it’s for home improvements for a new kitchen, that dream holiday you’ve always wanted to take, or it’s time for a new car, additional borrowing could help you achieve your goals.
Do I have to take advice?
- Yes, you must take advice. We need to be sure you’re making the right choice for your circumstances.
- An independent financial adviser will talk you through your options and help you make the right decision.
- If you don’t have a financial adviser, Unbiased.co.uk is a good place to start. your search.
Important: you may need to pay for financial advice.
What do I do next?
If you choose to go ahead:
- Your financial adviser will submit the application on your behalf
- They’ll also send us any applicable fees
- We’ll then carry out our checks and confirm the next steps.
Do I need a solicitor?
You may need a solicitor to act for you. This will depend on the details of your existing mortgage and what your borrowing for.
- You may need to instruct your solicitor if:
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- The purpose of the Additional Borrowing involves a change of title at Land Registry (for example purchasing land or the property freehold). You’ll then need to instruct your solicitor to act for you and pay their fees. We’ll instruct our solicitor to act for us. You may be responsible for some of our legal costs.
- If you’re moving home, or adding/removing someone from your mortgage at the same time as the Additional Borrowing, you’ll need to instruct a solicitor.
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- Our solicitor may need you to sign a new Mortgage Deed for the Additional Borrowing, they’ll also need to be satisfied with all matters relating to the title of the property.
For our Residential Mortgages:
If your original mortgage offer was on or after 22nd June 2020, you will not need to instruct a solicitor. If your original mortgage offer was before 22nd June 2020, you’ll need a solicitor. But don’t worry, if you’re happy for us to instruct one, we’ll cover the legal costs.
Will I have to pay fees?
You may need to pay some fees depending on the mortgage product recommended by your financial adviser. Here’s what to expect:
Our product fee is usually either £0 or £250, depending on the mortgage product.
You can pay this when your financial adviser submits your application, or you can add the fee to your loan on completion.
Good to know: This fee is fully refundable until your mortgage completes
Valuation fee:
- We’ll need a valuation of the property
- If the property is valued under £1m the valuation is free
- If the property is valued over £1m a fee applies.
Legal fee:
- You may need to pay a legal fees if your application involves a solicitor
Adviser fee:
- You may need to pay your financial advisor for their advice, you’ll agree this cost with your financial advisor
- Not all financial advisors will charge, to find a financial advisor refer to Unbiased.co.uk
For a full breakdown of fees, please see our tariff of fees and charges below.
How long does the process take?
- Once we receive the application and fees, it takes a few weeks to issue your mortgage offer
- It also depends on how quickly we receive your updated property valuation
- We may ask your financial advisor for documents and supporting information to help assess your ability to repay the Additional Borrowing
If a solicitor is needed:
- Once our solicitor receives your mortgage offer it typically takes up to three months to complete and for you to receive the Additional Borrowing funds
- Where a solicitor isn’t needed, once we receive the signed mortgage offer from you, you can choose when to receive the funds.
What happens next?
Once your financial adviser submits your application, here’s what we’ll do next:
- Once we’ve verified your ability to repay the Additional Borrowing, we’ll need an up-to-date valuation report. We may need a valuer to visit the property
- If the valuation report is acceptable, we’ll issue a mortgage offer and will send this to you
- If a solicitor is needed, we’ll also send our solicitor a copy of the mortgage offer to instruct them to act. Once our solicitor is happy to proceed to completion, they’ll let us know the date you want the Additional Borrowing funds to be released to you
- If a solicitor isn’t needed, we’ll ask you to sign and return the mortgage offer to confirm that you want to proceed. Once received, we’ll release the funds into your bank acocunt.
Get in touch
If you have any other questions, please get in touch or speak with your adviser. If you don’t already have one, you can find a financial advisor using Unbiased.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE