|
Further advance
You can sometimes have the facility to borrow further funds once you have been paying your mortgage for a set period of time, especially with a flexible mortgage. A fee is charged by your lender to cover the cost of assessing the merits of your application. Costs £50 - £100
Further advance
The raising of capital by a borrower from his existing mortgage lender.This might happen if:the value of the borrower's property has increasedthe borrower's salary has increasedthe borrower wants to have a higher mortgageIn these circumstances, the lender will probably be happy to lend more money to the borrower provided he can afford the higher repayments.
Similar MatchesFurther advance legal feeFurther advance legal fee
A fee that is normally charged when you apply for a further advance of money on your mortgage. This covers the necessary administration to ensure that the lender's legal charge over the property is maintained when further money is lent.
|
