Main site > Forums > Essential Money > Mortgages & Endowments > Borrowing more on Halifax mortgage (Page 1)

IMPORTANT! This is MoneySavingExpert's open forum - anyone can post

Please exercise caution & report any spam, illegal, offensive, racist, libellous post to

  • Be nice to all MoneySavers
  • All the best tips go in the MoneySavingExpert weekly email

    Plus all the new guides, deals & loopholes

  • No spam/referral links
or Login with Facebook
Borrowing more on Halifax mortgage
Closed Thread
Views: 361
Thread Tools Search this Thread Display Modes
# 1
Old 05-02-2013, 8:51 PM
MoneySaving Convert
Join Date: Sep 2010
Posts: 24
Default Borrowing more on Halifax mortgage

Hi all

I took out a Halifax mortgage last August. The loan-to-value was 80%.

Since purchasing the property we have added a second floor and three bedrooms (it was a bungalow) and carried out a complete refurbishment. I estimate our loan-to-value is now more like 65 or 70%.

I have a couple of expensive unsecured loans and credit cards and would like to pay them off by adding to my mortgage.

I notice Halifax require you to have had the mortgage for six months, so I've just become eligible. I just want to know the process for this - will they carry out another full credit search, require bank statements/wage slips etc.? i.e. will it be another cumbersome/long process or is it more straightforward and will they just internally check?

Obviously the house will need to be re-valued and that's fine. My main worry is that, although I have NEVER missed a payment and have a clean credit file, my "% of credit being used" is about 90% so I guess that might worry them a bit.

Appreciate any advice/input! Thanks!
mercexe is offline
Report Post
# 2
Old 05-02-2013, 9:26 PM
Deliciously Dedicated Diehard MoneySaving Devotee
Join Date: Jan 2006
Posts: 19,146

New valuation and full underwriting.

I assume you got their consent to make structural adjustments to the property.
opinions4u is offline
Report Post
The Following User Says Thank You to opinions4u For This Useful Post: Show me >>
Closed Thread


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

 Forum Jump  

Contact Us - - Archive - Privacy Statement - Top

Powered by vBulletin® Copyright ©2000 - 2015, Jelsoft Enterprises Ltd.

All times are GMT +1. The time now is 8:17 AM.

 Forum Jump  

Free MoneySaving Email

Top deals: Week of 15 April 2015

Get all this & more in MoneySavingExpert's weekly email full of guides, vouchers and Deals

GET THIS FREE WEEKLY EMAIL Full of deals, guides & it's spam free

Latest News & Blogs

Martin's Twitter Feed

  • To those asking about the EE power bars "18mth hire" term. This is covered in theMSE guide (
  • RT @s_johnson29: @MartinSLewis so it was your fault there were que's out side EE shop when I went to pick my new phone up ?
  • My timeline is full of people on about EE powerbar. Many gleeful they got one. Others frowning they're out of stock

Cheap Travel Money

Find the best online rate for holiday cash with MSE's TravelMoneyMax.

Find the best online rate for your holiday cash with MoneySavingExpert's TravelMoneyMax.

MSE's Twitter Feed