If you’ve built up equity in your property, Additional Borrowing—also known as a Further Advance—can be an excellent way to access extra funds without needing to remortgage. This option allows you to borrow additional money from your existing lender, using the equity you’ve already accumulated in your home. What’s more, this can be arranged while you’re still within your current mortgage term, whether that’s on a Fixed, Tracker, or other type of mortgage, and the new borrowing will sit alongside your existing mortgage as a separate part.
​
How Additional Borrowing Works:
​
-
Extra Funds, One Simple Process: A Further Advance allows you to access additional funds without the need for a full remortgage. The new borrowing is added to your current mortgage, but the two parts run side-by-side, with separate interest rates and terms.
-
Available for All Purposes: Additional Borrowing can be used for a wide variety of purposes, including:
-
Home improvements (e.g., renovating, extending, or updating your property) -
Debt consolidation (e.g., combining multiple debts into a single, more manageable payment) -
Investing in other opportunities or financial goals -
Flexible and Convenient: You can arrange a Further Advance at any time during your current mortgage term, so you don’t have to wait until your mortgage is up for renewal. It’s a flexible option that helps you access the funds you need without disrupting your existing arrangement.
​
Why Choose Artillium Finance Partners for Additional Borrowing?
​
-
Unbiased Advice: We offer impartial guidance, ensuring you fully understand how Additional Borrowing works and whether it’s the right option for you.
-
Minimize Overall Interest: Our team will work with you to find ways to reduce your overall interest payments, whether that’s by negotiating the best possible rates on the new borrowing or by adjusting the structure of your mortgage.
-
Strategic Synchronization: If you’re combining multiple parts of your mortgage, we’ll help you align the terms and repayment schedules to keep things simple and cost-effective. The goal is to ensure your mortgage remains manageable and aligned with your long-term financial plans.
​
Ready to Access Your Home Equity?
​
If you’re looking to unlock extra funds with a Further Advance, contact Artillium Finance Partners today. Our expert team will guide you through the process, ensuring you get the best deal and minimize costs along the way.