Fish4Mortgage is located in Weston-super-Mare, Somerset & is the area’s leading Mortgage Broker with over 25 years of knowledge in the field. We specialise in many areas including re-mortgages, first time buyers, commercial mortgages, general insurance & secured loans. Explore our website to find out more information & also go ahead & use our Mortgage Calculator to see what deals are available to you.
So what is a further advance?
If you are thinking about a re-mortgage to raise money for home improvements or another purpose then a further advance may be more suitable to your requirements. A further advance is where your current lender leaves your existing mortgage and remaining term in place and then provides you with a top up mortgage of the amount required.
This will run alongside your existing scheme without the need to go to an alternative lender. You can spread your payment over a long term and your interest rate should be lower than a personal loan.