If you already have a mortgage with us and you want to free up some money to cover the costs of home improvements for example, you could be eligible to apply for additional borrowing.
This is called a 'further advance', and it's a way of borrowing against the value of your home.
How do I apply for a further advance mortgage loan?
To check if you qualify for a further advance on your mortgage with Newcastle Building Society, call us on 0345 606 4488 to arrange to speak with one of our mortgage advice coordinators.
They will need to ask you a few simple questions to determine whether you are eligible to borrow more.
For example, they will need to know:
- The additional borrowing is affordable to you, so they will look at your income and outgoings
- How much you would like to borrow against your home
- What you are using the funds for
- How long you would like to repay the loan
- The estimated value of your property
If, after speaking with one of our mortgage advice coordinators, we confirm that you do qualify for borrowing more on your mortgage, one of our mortgage advisers will then give you full advice, a personalised recommendation and send you an application form to complete and return.
How much can I borrow against my home?
We will use the property valuation along with your outstanding mortgage balance to calculate how much you might be able to borrow against your home.
If you feel that the property valuation amount has changed or is different from what you expected, you can discuss your options with our mortgage advisers.
Ready to arrange an appointment?
Tell us about your mortgage needs and arrange an appointment with a Mortgage Adviser to discuss how you could achieve them.
Book an appointmentLet's talk
Speak to one of our friendly mortgage team about your options.
Our lines are open 8am - 6pm, Monday to Friday.
YOUR MORTGAGE WILL BE SECURED ON YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
