What can I use it for?
You can request it for any purpose other than:
- paying off debt
- business
- financial speculation.
We’ll consider your request, subject to our lending criteria.
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Related queries
Check the status of our online services for personal and business banking.
Bank of England base rate change
On 7 August 2025, the Bank of England base rate decreased from 4.25% to 4.00%. View more on our base rate information page.
How much will it cost?
The loan will be based on our additional borrowing rates. These interest rates change over time and may be higher than your existing rate on your main mortgage. Please review our rates to check what’s right for you.
How much can I borrow?
The minimum additional loan is £5,000.
The amount you can borrow might be less than the values listed below if you hold part or all of your mortgage on an interest-only basis, or if you own (or are buying) a second property.
Residential mortgages
You can borrow:
- up to 85% loan to value (LTV) for home improvements and capital raising
- up to 90% LTV for purchasing an additional legal interest, such as buying someone else out.
You cannot get an additional borrowing loan if your property is being let out.
Buy to Let (BTL) mortgages
You can borrow:
- up to 75% loan to value (LTV) for home improvements
- up to 70% LTV for other reasons
You cannot get an additional borrowing loan if you own more than 3 Buy to Let properties, as you’re classed as a portfolio landlord.
What else should I consider?
Lending conditions and criteria
Other important things to consider include:
- the minimum term is 5 years and the maximum term is 40 years
- at least one applicant must be employed, self-employed or retired
- any borrowing you take up will increase the amount of borrowing secured against your home
- any borrowing is always subject to credit score and our lending criteria.
If you decide to apply, we’ll talk to you about your income and outgoings to understand whether any loan is affordable.
Please read through our full lending criteria.
Documents you may need to provide
You may need to provide some documents, which you might want to get ready in advance. They include:
- evidence of your income in the form of your latest personal bank statement showing the latest salary or income credit
- evidence of your employment or self-employment
- if you’re asking for a higher LTV amount - a revaluation of the property at your expense and details of the valuation
- if you’re thinking about home improvements - quotations for materials, labour and so on.
We’ll let you know which (if any) of these we’ll need from you.
You’re entitled to more than one illustration on any of our products that you qualify for. To discuss your options before completing your application, please call us on 08000 288 288 (call charges).
Our exclusive green additional borrowing options
As part of our commitment to the planet, we’ve launched two Energy Efficient Additional Borrowing products, exclusively for existing mortgage customers who want to make improvements to their home to make them more sustainable and energy efficient.
You’ll need to create an Energy Saving Home Improvement Plan using the free tool powered by Energy Saving Trust (EST).
How do I borrow more?
Call our mortgage team on 08000 288 288 (call charges).
What happens when I call?
We’ll discuss what you want to do, and check it's affordable based on your circumstances.
Residential mortgages
A mortgage advisor will discuss your needs, complete an assessment, and recommend a suitable product.
Buy to Let (BTL) mortgages
We’ll assess your eligibility and provide details of our products. If you need BTL mortgage advice, you should contact your broker.
Interest-only repayments
We’ll ask about your plans to repay your mortgage, and how the plans are going.
You may need a solicitor to help complete your application, especially if you’re buying a partner out or buying your freehold.
What happens after I call?
- We’ll send you an illustration and an application pack within 5 business days after your appointment.
- If you’re happy with the illustration and any changes, return the application form, along with the documentation required to support your application and any applicable fee, to us.
- We’ll check the details and obtain the necessary information to fulfil our lending criteria, and then we’ll send you an offer.
- You must read the offer and if you’re happy with it, sign and return it to us.
- Once we’ve checked all the details, we’ll agree to send the funds to you (or your solicitor).
Your home may be repossessed if you do not keep up repayments on your mortgage.
Help and support
We understand managing your mortgage can be overwhelming. You can contact us by phone or view our answers to frequently asked questions in our help centre.
Support by phone
You can call us on 08000 288 288 (call charges).
What you can do over the phone:
- discuss your mortgage
- book, change, or cancel an appointment with a mortgage adviser
- check the progress of your application.
Frequently asked questions (FAQs)
Some of our most popular help topics include:
Other topics covered in our help centre include managing your existing mortgage, switching product and remortgaging.
Mortgages
We have a range of mortgage products, so you can find the right fit for you – whether you’re thinking of applying for your first mortgage, or switching to us.
Loans
Learn more about loans and discover our alternative borrowing options.
Credit cards
We have a range of credit cards available to suit your needs. They offer you a way to make flexible payments, all with the UK’s original ethical bank.
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The Co-operative Bank reserves the right to decline any application.
Whether we can offer you credit depends on your circumstances and our lending policy. We may decline your application based on your circumstances or our lending policy. We may be able to offer a product that's different to the one advertised.
Smile, The Co-operative Bank and Britannia are trading names of The Co-operative Bank plc, which is a member of the Financial Services Compensation Scheme (FSCS).
Financial Services Compensation Scheme
Your eligible deposits held by a UK establishment of The Co-operative Bank p.l.c. are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. This limit is applied to the total of any deposits you have with The Co-operative Bank and smile. Any total deposits you hold above the limit between these brands are unlikely to be covered.
Please read further information on the FSCS scheme here or visit their website.
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