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Has anyone had experience of additional borrowing close together?

IAMIAM
Posts: 1,388 Forumite

I wanted to fix at 75% LTV with AB and then I am about to do a further application for another 5% at 80% LTV as I didn't want everything on 80% LTV Rate.
The bank said there is no 6 month gap between drawdown/applications etc like some banks do. Nothing will have changed application wise....just thoughtful that it may be a decline.
The bank said there is no 6 month gap between drawdown/applications etc like some banks do. Nothing will have changed application wise....just thoughtful that it may be a decline.
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@iamiam If the lender policy does not require a minimum time between completion and applying for a further advance/additional borrowing, then it should be fine on that one aspect. If you are sceptical for whatever reason, just try get it in writing (chat, email, secure messaging, etc).
I'm pretty sure I have done the odd few apps (likely BTL) in a similar scenario over the past years, but can't recall which lenders.
I am a Mortgage Adviser - You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
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