Further advance

We accept the following reasons for additional borrowing:

• Home improvements to the mortgaged property
• Purchase of freehold interest or extension of a lease (a solicitor will be needed)
• Debt consolidation to a maximum of 75% LTV (for residential mortgages only).

How does it work?

You can submit standard residential and Buy to Let further advance applications for your customers.  However, if you didn’t introduce their current mortgage, or the mortgage started before June 2014, please call us on 0345 266 8928* before giving advice.

No other changes to the mortgage can be made at the same time as a further advance is processed.

What do you need to do?

• Make sure you’re registered and able to submit business with Post Office for Intermediaries so we can verify you. Check our distribution page for more information.
• Check your customer has a mortgage with Post Office Money® or Post Office for Intermediaries. They may have a Bank of Ireland branded mortgage document, but they’ll need to have applied through Post Office originally and not Bank of Ireland. Please call us to check on 0345 266 8928*.
• Check that you or your firm introduced their current mortgage after June 2014.
• Buy to Let Top Slicing? Your customer can only apply for this type of further advance if their main loan is already a Top Slicing mortgage. If they have an ICR mortgage, but want to transfer the main loan on to a Top Slicing basis, please arrange for your customer to call us directly. The number for them to ring is 0345 602 7056*.

Use our lending criteria look up tool to check your customer meets our lending and affordability criteria. If your customer needs a solicitor, use our solicitor search tool to check if a firm or individual is on our panel.

How to apply

Our how to guide contains everything you need to apply for a further advance for your customer. Here's a quick snapshot:

• Call us to check the brand
• Check your customer meets our lending and affordability criteria
• Select a product for your customer
• Request a Mortgage Illustration
• Complete and return our further advance application form along with any supporting documents - take a look at what documents we'll need
• We'll arrange for the case to be credit scored, underwritten and a valuation instructed if required. For more information on valuations and fees visit our lending criteria lookup tool. Please don't send any fees with the application form, we'll be in touch to collect the fee from your customer
• We'll post a copy of the offer to you and your customer within 20 working days
• The offer is valid for six months. Your customer will need to sign and return the offer within 21 days to secure the rate.