Existing Customers – Further Advance

To help you work out how much you can borrow, we’ve provided a handy calculator below. Check how much you could borrow. It'll only take a few minutes.

*The amounts quoted are not a mortgage offer, they are only to give you an indication. You then have the option to make a full application if you choose to. When you complete the full application, we’ll do credit checks and ensure that you meet our lending criteria.

Important Information – All amounts quoted are for illustrative purposes only and all mortgage applications are subject to robust credit and affordability checks and the actual amount we will lend will depend on a credit assessment being made. If you have any ongoing credit commitments these will be taken into account and may affect the amount you will be able to borrow from us.

To obtain an accurate ‘How much I can borrow figure’ please apply for a formal Agreement in Principle by calling our Mortgage department on 020 7398 5421 / 020 7398 5422 / 020 7398 5423 where you can discuss your requirements with one of the bank’s mortgage underwriters. The underwriters operate on a phone rotation system.

This is not a formal quotation or a commitment to lend by Reliance Bank Ltd.

Our useful Mortgage Repayment Calculator can help you with your research into how much your monthly payments might be each month.

You can change the mortgage amount, term or interest rate in the Mortgage Repayment Calculator shown below to see the difference it makes and help you compare mortgage rates.

You can use our mortgage calculator to see the impact of either extending or reducing the mortgage term however please take into consideration the following:

Extending your proposed mortgage term will make the monthly payments smaller. However, it will also increase the amount of interest you will have to pay back over the term of the mortgage.

Reducing your proposed mortgage term means that your payments are higher each month. But the overall amount of interest you will have to pay will be less.

Actual loan repayment amounts will be provided to you from the Reliance Bank Ltd Mortgage department in a Mortgage Illustration (known as a European Standard Information Sheet / ESIS). You can formally request an ESIS from the Reliance Bank Mortgage Team via email at mortgages@reliancebankltd.com or call us on 020 7398 5421 or 020 7398 5422 or 020 7398 5423. The underwriters operate on a phone rotation system.

The Mortgage term minimum and maximum limits within the Mortgage Repayment Calculator are based on our lending criteria which is a minimum mortgage term of 3 years and a maximum term for residential mortgages of 40 years. As a lender we only look at whole years for new mortgages and not years & months.

To obtain an accurate ‘How much I can borrow figure’ please apply for a formal Agreement in Principle by calling our Mortgage department on 020 7398 5422 where you can discuss your requirements with one of the bank’s mortgage underwriters. The underwriters operate on a phone rotation system.

Because we already have your property as mortgage security, we may not need to carry out a re inspection as we can look to see if we can use our index linked valuation we hold on file, this will depend on the individual circumstances, such as ;

• how much you are looking to borrow?
• what is the overall LTV based on the total Reliance Bank Ltd borrowing?
• how much you think your home is worth?

If we do need a new physical inspection, this cost is met by the customer. As soon as we’ve received your acceptance to proceed with your mortgage application, we will arrange the valuation.

When you are ready to have the funds, you will need to sign and return the formal mortgage offer acceptance page to the mortgage department. We do require 3 working days notice for when you do require the funds. We will transfer the funds into your nominated bank account.

Reliance Bank will send you a 1st payment letter, confirming the amount and date of your first monthly mortgage payment, together with confirmation of the subsequent monthly mortgage payments for the duration of your mortgage product and which day of month these will be collected from your nominated Bank account, in line with your instructions when you made the application
Time to get started on those big plans!

The amount you can borrow depends on your individual circumstances. We base our lending decisions on household income, but also outgoings, to make sure the mortgage is affordable for you. The last thing we want is to put you at risk by lending more than you can afford to repay.

We will also consider the size of the loan in relation to the value of your property (what we call the Loan to Value, or LTV). The lower the LTV, the higher the income multiple we will consider.

Here’s a guide to what we might be able to lend you, based on your LTV and household income: