extra on mortgage

kerryi27

Hi,

If i am taking extra money out on my mortgage from existing lender, how long will it take. Is it quicker than a normal mortgage.

Thanks in advance

_Andy_

Varies lender to lender, perhaps 2-4 weeks. Several factors would affect the timescale.

Conrad

In theory should be quicker as they already have knowledge of you and your property.

A secured loan with another lender takes about 2 weeks to arrange if the client is organised.

Toughluck

further advances can be as quick as one week, depending on how much you borrow. If the income is there to support it along with the equity should be relatively quick. In my perosnla experience the lenders for me in the past how advanced the monies within 48 hours. (Nationwide and C&G).