Guide to Cash Reserve
Want to know more?
Get the facts and discover just how easy it is to borrow money cheaply.
Watch our Cash Reserve demo
How to use your mortgage to borrow money cheaply
A new kitchen. A loft conversion. A family holiday. You might not realise it, but your mortgage can help you pay for the bigger things in life.Dipping into your overdraft, taking out a personal loan, or using a credit card can become an expensive way to borrow money. With Cash Reserve you can borrow money at mortgage rates, which tend to be cheaper as the loan is secured against the property.
It's all about making your mortgage work harder for you.
How does Cash Reserve work?
It's simple:- Cash Reserve is the difference between the amount we are willing to lend you when you first apply for your mortgage and the amount you actually borrow
- You can borrow from £1,000 at mortgage rates
- You can borrow over a term that suits you
- You can access the funds when you want.
The facts:
- Cash Reserve is available up to the agreed loan to value percentage on your mortgage, and is subject to the Terms and Conditions of the mortgage offer for additional lending.
- Please bear in mind that your monthly payments and outstanding capital will increase
- There is a fee payable when you add the Cash Reserve feature to your mortgage. In addition, an admin fee also applies when you drawdown from your Cash Reserve.
