Further Advance On Mortgage

What Is A Further Advance?

A further advance on your mortgage is when you extend the borrowing if you have sufficient home equity to borrow against. It’s often confused as the same as a remortgage but the main difference is that when you take out a further advance, you aren’t forced to switch mortgage deals.

Why Use Truffle For Further Advances?

At Truffle, we are a team of mortgage advisors that have years of experience dealing with further advances. From residential to buy to let mortgages, as long as you have equity in your property, we’ll be able to take away the hassle and find you the best possible deal. Our flexible mortgage advisors will look at your situation to access the equity in your existing property by remortgaging or through a second charge mortgage.

To set up a further advance on your mortgage, speak to one of our brokers on 029 2010 6759 or email us.

What Are The Benefits?

• Generally lower interest rates than other types of loans
• A further advance on a mortgage can be repaid over a longer period of time
• Can be used to extend your house, wedding, education and a range of other large costs
• We look at your specific situation to access the equity in your existing property by re-mortgaging or through a second charge mortgage

What Can Further Advances Be Used For?

If you have enough equity in your current property, you can use a further advance on your mortgage for several purposes. For example, this may be to make home improvements, debt consolidation, wedding costs, putting your children through private education and much more.

However, we would only proceed with further advances if you have sufficient equity in your property, a good credit score and the ability to afford the payment.