When your fixed rate ends, remortgaging is not only a chance to potentially secure a better deal, but it can also be an opportunity to borrow additional funds. For some homeowners, this can be a way to finance big plans, from home improvements to helping your own children onto the property ladder.

But how much can you borrow, and whether it’s the right move, depends on your circumstances.

A chance to release extra funds

When you remortgage with a new lender, they will usually assess your income, outgoings, credit history and the current value of your property. As part of the remortgage, you may have the opportunity to increase your mortgage and borrow more money.

This can be thanks to increased equity in your property – through paying off your mortgage every month and/or the property itself increasing in value. It can also be possible through your financial situation improving since you first took out your mortgage or how a lender assesses you against their affordability requirements.

While every lender is different in their requirements, if one or more of these conditions is met, you could have the opportunity to borrow additional funds.

What can you use it for

Additional borrowing is often used for major projects or long-term goals, such as renovating or extending your home, buying a new car or other bigger purchases, or consolidating debts. It can also be used for supporting family such as contributing to a deposit or investing in education or career development.

Why advice matters

While borrowing more can be useful, it’s not a decision to take lightly. Adding to your mortgage increases the amount you owe and can lengthen the time it takes to pay off your home. An adviser can help you weigh up whether additional borrowing makes sense for your financial situation and explore the most competitive deals.

Planning ahead

If you’re considering borrowing more when you remortgage, it pays to plan early. Speak to an adviser around six months before your current deal ends. This gives you time to assess how much you could borrow, what it will cost, and whether it fits with your long-term plans.

Remortgaging is more than just switching rates. With the right guidance, it can be a chance to shape your finances to suit your life today and tomorrow.

When your fixed rate is coming to an end, there’s certainly a lot to consider. Alongside the remortgage process itself and the possibility of changing lenders, switching products or adjusting mortgage terms, there’s also the possibility of borrowing additional funds and supporting other life goals and ambitions.

With so much to think about, there’s no doubt it can all be daunting. For such a big decision, the knowledge and expertise of a qualified adviser can help simplify the entire process so your life doesn’t have to pause.

To book your appointment with a mortgage adviser, please get in touch here  info@Lilacfinancial.co.uk and 01536357806.

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

Approved by The Openwork Partnership on 17/09/25.