Further Borrowing Options With April Mortgages. Life changes over time, and your home often needs to change with it. You may wish to convert a loft into an extra bedroom, modernise your kitchen, or add a conservatory. These improvements can improve day-to-day living and may increase property value, but they often require additional funding.
Further borrowing allows homeowners to increase their existing mortgage rather than applying for a separate loan. This can be a practical solution when managed carefully and supported by professional advice.
How Further Borrowing Typically Works
Many lenders require borrowers to complete a full new mortgage application when requesting additional funds. This can involve affordability checks, updated valuations, and legal work. The process may be time-consuming and can lead to higher costs.
Eligibility can also be affected by changes in lending criteria or interest rates, even if your payment history has been strong.
A Simpler Further Borrowing Process With April Mortgages
April Mortgages offers a more streamlined approach to further borrowing. Eligible customers can apply to borrow more while keeping the same core terms as their original mortgage.
This means the interest rate structure and key conditions remain aligned with the existing loan, subject to affordability and lending criteria. The aim is to reduce unnecessary complexity for borrowers with an existing mortgage.
Common Reasons for Further Borrowing
Further borrowing is often used for home improvements such as:
- Loft conversions and extensions
- Kitchen or bathroom upgrades
- Conservatories or garden rooms
- Essential structural work
Borrowing purposes are continually assessed in line with lender policy and affordability requirements.
Important Considerations Before Borrowing More
Increasing your mortgage will usually increase your monthly repayments and the total amount repaid over time. It is important to consider long-term affordability and future plans before proceeding.
Your home may be repossessed if you do not keep up with your mortgage repayments.
Speaking to a regulated adviser can help you understand whether further borrowing is suitable or whether alternative options may be more appropriate.
April Mortgages Cuts Rates as LTV Improves
As market conditions evolve, April Mortgages recently reduced interest rates as loan-to-value (LTV) thresholds improved. This change may benefit homeowners seeking to access additional borrowing under their existing mortgage.
Improved LTV criteria can make additional borrowing more accessible and potentially more cost-effective for those with equity in their property. For example, if your property has increased in value since you first took out your mortgage, the lower loan-to-value may allow you to borrow more while qualifying for better terms.
For more details on how these rate changes and LTV improvements could impact your borrowing options, see April Mortgages Cuts Rates as LTV Improves.
How Connect Mortgages Can Assist
Connect Mortgages offers whole-of-market mortgage advice that reflects each client’s personal financial situation. Our advisers review affordability, future intentions, and potential risks before identifying an appropriate mortgage solution. When a 100% mortgage is not the right fit, we consider alternatives that may deliver stronger long-term outcomes.
April Mortgages products are available exclusively through regulated mortgage advisers, including Connect Mortgages. We guide clients through every stage of the mortgage journey, from initial review through completion, providing clear support throughout.
Mortgage professionals can also access additional support through our wider network. Advisers who are not currently approved with April Mortgages can still help their clients by using our referral arrangement. This allows brokers to submit cases to April Mortgages while continuing to manage the client relationship and the advice process.
Further information on adviser access and network support is available through the Connect Group.
Taking the Next Step
April Mortgages: 100% mortgages may help certain buyers move onto the property ladder when saving a deposit is not currently possible. These products are not suitable for everyone, and eligibility will depend on individual circumstances and affordability.
Select the April Mortgages option below to submit an enquiry and find out whether this type of mortgage could be right for you.
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