Further Advance Mortgages

A further advance means borrowing more money from your existing mortgage lender. Taking out a further advance is most commonly used towards home improvements or for a deposit towards a second property purchase, for example a buy to let or a second home.

When applying for a further advance our Mortgage & Protection Advisors will talk through your budget and assess your income and outgoings to make sure the additional borrowing is affordable.

It’s important to note that the extra money you take out will be linked to your property, which you could lose if you aren’t able to keep up with your mortgage repayments.

Is it a good idea to borrow more on your mortgage?

The pros and cons of borrowing more on your mortgage depend on your personal financial circumstances. There are potential risks that come with additional borrowing because you’ll be borrowing against your home. This means your home is at risk if you can't keep up with your repayments. It may be worth looking into alternatives to borrowing on your mortgage. If you choose to get a further advance on your mortgage, this may affect your ability to re-mortgage in the future. You may have to pay a fee to leave your old mortgage contract, and it can take 6-8 weeks to complete.

Is it a good idea to borrow more on your mortgage?

What can I use the additional money for?

What can I use the additional money for?

When you go through the remortgage journey with Rettie Financial Services, you’ll be asked if you’d like any additional borrowing. If you answer ‘yes’, we’ll ask you how much you want to borrow and what you want the money for. Typical reasons might include; home improvement, school fees, divorce settlement, debt consolidation, car purchase, or another property purchase. Each case will be fully underwritten by the lender, and a decision will be based on your current and future position.

How long will it take before I receive the money?

How long it takes to receive the money will depend on the lender. Our Mortgage and Protection Advisors will be able to guide you based on each lender’s application timescales so you know what to expect. In some cases, it can take as little as a week for your additional borrowing application to be accepted.

How long will it take before I receive the money?

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Your home may be repossessed if you do not keep up repayments on your mortgage. There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances.

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Arrange A Free Financial Services Consultation

Book your free financial services consultation today with one of our mortgage advisors.
Call Us 03301 759 977
Visit Us 11 Wemyss Place Edinburgh ED3 6DH

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Your home may be repossessed if you do not keep up repayments on your mortgage.

You may have to pay an early repayment charge to your existing lender if you remortgage.


Rettie & Co. was founded in 1993 and is one of the most trusted and well-respected names in property. We buy, sell, let and develop property in Scotland and the North East of England, and now we are pleased in 2022 to be expanding our service offering with the launch of Rettie Financial Services Ltd. Offering mortgage advice from over 90 lenders, insurance and personal protection products, our team of expert mortgage advisors will work with you to find the right product and deal for your personal needs.

We pride ourselves on always going above and beyond for our clients, and we carry this ethos through to our new financial services venture. Find Out More

Rettie Financial Services Ltd

Rettie Financial Services Ltd is an appointed representative of Mortgage Advice Bureau Limited and Mortgage Advice Bureau (Derby) Limited which are authorised and regulated by the Financial Conduct Authority.

Rettie Financial Services Ltd. Registered Office Address: Deuchrie, Dunbar, East Lothian, United Kingdom, EH42 1TG. Registered in Scotland Number: SC711925.

For insurance business we offer products from a choice of insurers.

Your home may be repossessed if you do not keep up repayments on your mortgage.