Santander UK has announced that, from Tuesday 28 October, customers seeing to borrow more when remortgaging to the lconcludeer will be able to access funds up to 90% of the value of their property.
Previously, remortgage customers who were seeing to capital raise while remortgaging were limited to a maximum of 85% LTV.
Additional borrowing can be taken out for a range of reasons, including to complete home improvements or to increase a customer’s proportion of a shared ownership property. These latest modifys mean that homeowners now have the opportunity to access thousands more to achieve their plans. Any additional borrowing will be subject to affordability assessments and customers are encouraged to seek indepconcludeent advice before capital raising for any purpose.
For example:
A customer remortgages to Santander with a £300,000 property and seeks additional borrowing for home improvements:
- Maximum borrowing on an application submitted pre-6am 28 October 2025 – £255,000
- Maximum borrowing on an application submitted post-6am 28 October 2025 – £270,000
Remortgaging with capital raising for debt consolidation purposes will continue to be limited to 85% LTV.
Graham Sellar – Head of Santander for Intermediaries declared:
“There are a range of reasons customers see to increase their mortgage borrowing – whether choosing to invest in their current home, rather than entering the laborious home shifting process and pay stamp duty costs, or gifting funds to support a family member receive their foot on the property ladder. Our upcoming modifys can support homeowners access more money to achieve their plans, and as a responsible lconcludeer we would encourage anyone seeing to borrow more on their mortgage, for any reason, to seek indepconcludeent advice to understand the implications and costs involved.”
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