Guide to Cash Reserve
Want to know more?
Get the facts and discover just how easy it is to borrow money cheaply.
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Use our Cash Reserve calculator
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 a maximum of 90% of your home's value
- 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. If you take further funds on a fixed rate a booking fee will also apply. In addition, an admin fee also applies when you drawdown from your Cash Reserve
Find out more about Cash Reserve
To find out more, read Your Questions on Cash Reserve or call us on 0845 845 8450
