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Further advance on mortgage
thetigerwhocametotea
Posts: 23 Forumite
We want to borrow another £30k to do some home/garden improvements.
Our LTV is less than 45% so BSoc quite happy to lend us the money. Our current mortgage is tracking the base rate +.99 but the BSoc will only give us the further advance at 5.84% which seems very high? We didn't think we'd get the further advance at a really low rate but weren't expecting it to be as high as this. Is this normal or is it just the West Brom?
They've said this is the bes they can do so take it or leave it!
Our LTV is less than 45% so BSoc quite happy to lend us the money. Our current mortgage is tracking the base rate +.99 but the BSoc will only give us the further advance at 5.84% which seems very high? We didn't think we'd get the further advance at a really low rate but weren't expecting it to be as high as this. Is this normal or is it just the West Brom?
They've said this is the bes they can do so take it or leave it!
0
Comments
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Standard practice is to offer further advances at current rates.0
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