Boost your borrowing power and improve chances of a remortgage - check how now


When thinking of remortgaging, it may be a good idea to borrow more money as it can boost one’s borrowing power and increase their chances of getting one approved. On the Money to the Masses podcast, Damien Fahy discussed whether he thinks people should be borrowing more when remortgaging.

He said: “It can be a good idea to look into borrowing more money for example if you want to improve your home and the value of your house has risen significantly from when you first took out a mortgage.

“Also, in this environment because mortgage rates have fallen you could probably find that if you speak to a mortgage advisor you can borrow more money if you need to because you may have benefited your house price.

“It may have jumped 10 – 15 percent in the last two years which is very likely in reality and mortgage rates could be better.

“It means you could potentially boost your boring power when it comes to trying to take out another mortgage.”

READ MORE: How you can legally reduce Inheritance Tax


When it comes to making the decision to re mortgage, everyone’s situation is different.

Britons should be aware of what other debts they may have as this could affect their re-mortgaging applications.

Mr Fehy continued: “The one thing to bare in mind is your circumstances.

“So how have your earnings fared in your own financial circumstances in terms of other debt etc.


‘This is just the start…’ Rishi Sunak may hit retirees further in next Budget [WARNING]LinkUniversal Credit, PIP & state pension recipients set for bonus in December 2021 [UPDATE]LinkMan explains how he earns an extra £800 per month after being hit by impact of Covid [INSIGHT]

“That is going to come in it when you do an affordability check when you remortgage and look to try and borrow more.

“But assuming that those things are in good stead and you’ve got enough income coming in so you can meet those requirements of affordability and in some cases where they use multiples then there is no reason why you couldn’t borrow more money.”

If one is looking to re mortgage and improve their house, there are many ways to get a cheaper rates.

Britons should seek advice well before their fixed term comes to an end.


It has been suggested they should start looking around a few months before it ends, as the applications can take some time to process.

Additionally, people can get lower rates on some fixed-term mortgages if they qualify for a green mortgage.

This is an incentive for the borrower to either buy a green building or to renovate an existing one to make it greener.

The bank would offer them either a lower interest rate or an increased loan amount.

Every home must have an Energy Performance Certificate (EPC) when it is built, sold, or rented

This gives the property an energy efficiency rating from A or 100 (most efficient) to G or zero (least efficient) and is valid for 10 years.

Green mortgages can offer more competitive mortgage rates as some lenders discount these as a reward for purchasing an energy efficient home.

Other lenders offer cash back as an incentive.

Internet Explorer Channel Network
News Related


‘Bersatu sudah mati', Ketua Bahagian Arau letak jawatan, keluar parti

© Provided by Free Malaysia Today Ameir Hassan berkata perjuangan asal Bersatu sudah hilang kerana kerakusan kuasa dan jawatan. (Gambar Bernama) PETALING JAYA: Ketua Bahagian Bersatu Arau, Ameir Hassan mengesahkan ... Read more »

Gitex 2021: The 'technology octopus' has changed our post-Covid lives forever

© Provided by The National Third day of GITEX 2021 at the World Trade Center in Dubai. (Photo: Antonie Robertson / The National) The future has never seemed closer than ... Read more »

US: Donald Trump announces plans to launch his own social network

© Provided by Khaleej Times US: Donald Trump announces plans to launch his own social network Former US president Donald Trump announced plans Wednesday to launch his own social network, ... Read more »

Tax cheat schemes cost governments billions

© Getty Images Major tax evasion and avoidance schemes have cost governments an estimated €150bn (£127bn) in lost revenues, research shows. So-called cum-cum and cum-ex schemes are designed to exploit ... Read more »

Jhunjhunwalas hike stake in Titan for first time since Dec 2019

NEW DELHI: The jhunjhunwala duo, Rakesh and his better half Rekha, bought Titan Company shares in September quarter on a net basis for the first time since December quarter of ... Read more »

Kareena Kapoor Khan's Sister-in-Law Saba Hits Back at Paparazzi for Following Jehangir Ali Khan

© Provided by News18 Last evening, photos of Kareena Kapoor’s son Jehangir Ali Khan had gone viral after he attended a birthday party with the actress. The paparazzi were seen ... Read more »

India's vaccination drive outpaces most countries as it breaches 100 crore inoculation mark

With an uptick in the world’s largest vaccination drive against COVID-19, India on Thursday crossed inoculation of 100 crore vaccine doses, according to the Ministry of Health and Family Welfare. ... Read more »

Online abuse: Banning anonymous social media accounts is not the answer

In the wake of the tragic death of the member of parliament for Southend West, David Amess, fellow MPs have been talking about how to best protect both politicians and ... Read more »

Detainee hospitalised with COVID-19

A lawyer advocating for detainees being held in a Melbourne hotel with infectious COVID-19 patients has told a court their lives are in jeopardy. © James Ross/AAP PHOTOS Advocates want ... Read more »

Where we've seen this Bachie date before

© Provided by Are Media Pty Ltd After so many seasons of The Bachelorette Australia, history is bound to repeat itself from time to time. And Brooke Blurton and Darvid’s ... Read more »

Prospects firm for net zero emissions deal

© Mick Tsikas/AAP PHOTOS Nationals senator Susan McDonald expects a deal to be struck with the PM on net zero emissions. Australia’s prospects of locking in a target for net ... Read more »

Business calls to address worker shortage

A major employer group has urged Scott Morrison to pull the trigger on loosening international borders to migrant workers and students. © James Gourley/AAP PHOTOS Business has urged Scott Morrison ... Read more »

SAP's cloud business drives quarterly results, raised outlook

The logo of SAP is seen on their offices in Reston, Virginia BERLIN (Reuters) -SAP said on Thursday that demand for its cloud business database was growing as the German ... Read more »

Ukraine's new daily coronavirus cases, deaths hit record

COM EUOutbreak of coronavirus disease (COVID-19) in Kyiv KYIV (Reuters) – Ukraine registered a record daily high of new coronavirus infections and related deaths, the health ministry said on Thursday. ... Read more »

If bill is passed companies who don't reduce emissions to pay higher carbon tax

© Provided by CapeTalk Businesses that fail to reduce emissions could soon be taxed a higher carbon tax rate if a new bill proposed is passed. This legislation will fast-track ... Read more »

Sunak's budget must navigate the Catch-22 of inflation and recovery

© Provided by City AM There have been some pretty bleak backdrops to budget announcements over the years. In March 2008, Alistair Darling faced the daunting task of delivering a ... Read more »

Sudan's fragile transition to democracy at stake as rival camps flex muscles

© Marwan Ali, AP Supporters of Sudan’s transitional government have called for mass rallies in Khartoum on Thursday amid fears the military is plotting to withdraw its support for an ... Read more »

Sajid Javid warns Covid cases could rise to 100,000 a day

© REUTERS Britain’s Health Secretary Sajid Javid speaks during a press conference held in Downing Street, London The Health Secretary issued a stark warning daily Covid cases could rise to ... Read more »

A fifth of Indonesia's palm oil sites lie in protected forests, says Greenpeace

© Provided by The Guardian Photograph: Hotli Simanjuntak/EPA Almost one-fifth of the land used for Indonesian oil palm plantations is located in the country’s forest estate, despite a law banning ... Read more »

Sajid Javid announces UK has secured new antiviral drug deals

© POOL/AFP via Getty Images BRITAIN-HEALTH-POLITICS The Health Secretary revealed the UK has secured new antiviral drug deals. In a Downing Street press briefing, Sajid Javid said the UK should ... Read more »

Libya hosts international conference to drum up support ahead of elections

© Yousef Murad, AP Libya‘s fragile unity government hosts senior foreign officials on Thursday to drum up support on spiky transitional issues as the war-torn country gears up for a ... Read more »

Could single decaying tanker worsen global supply issues?

Could a ship off Yemen’s coast worsen global supply issues? Recent shortages have caused havoc but there are fears a decaying oil tanker moored in the Red Sea could spell ... Read more »

Gratitude to doctors, nurses: PM Modi lauds health workers for 100 crore vaccine doses

PM Narendra Modi India on Thursday completed administering 100 crore vaccine doses in a major achievement in the fight against Covid-19 pandemic. PM Narendra Modi congratulated the country and expressed ... Read more »

Aryan Khan's bail plea to be heard by Bombay HC on Tuesday

Mumbai cruise drug bust case: Aryan Khan’s bail plea to be heard by Bombay HC on Tuesday. The bail plea of Aryan Khan, who was arrested in connection with the ... Read more »

India reports 18,454 new COVID-19 cases, 160 deaths in last 24 hours

© Provided by Zee News New Delhi: India logged 18,454 new COVID-19 cases in the last 24 hours, pushing the total caseload to 3,41,27,450, according to the Ministry of Health ... Read more »

As India Crosses 1 Billion Covid Jabs, Overcoming Rural-Urban Divide is the Real Success Story

© Provided by News18 As India Crosses 1 Billion Covid Jabs, Overcoming Rural-Urban Divide is the Real Success Story The coronavirus pandemic is unlike anything we have witnessed in the ... Read more »

Southwest monsoon likely to withdraw on October 26: IMD

© Provided by Zee News New Delhi: The India Meteorological Department (IMD) said that the southwest monsoon is likely to withdraw on October 26. The MeT department also revealed that ... Read more »

Bruno Fernandes and Cristiano Ronaldo prove Manchester United critics wrong vs Atalanta

Fernandes is a unique threat This was another game where Bruno Fernandes failed to scale the heights he has done so often in a Manchester United shirt, but three of ... Read more »

Barcelona produce vital Champions League win as Gerard Pique sets new record

© Alex Caparros Gerard Pique celebrates with Memphis Depay after scoring Barcelona’s winning goal against Dynamo Kyiv in the Champions League. Getty Images Gerard Pique revived Barcelona’s Champions League campaign ... Read more »

Ansu Fati signs long-term Barcelona contract with €1 billion buyout clause

© David Ramos BARCELONA, SPAIN – OCTOBER 17: Ansu Fati of FC Barcelona reacts during the LaLiga Santander match between FC Barcelona and Valencia CF at Camp Nou on October ... Read more »

Amazon Missed French Deliveries Goal After Warehouse Closures

© Photographer: SEBASTIEN BOZON/AFP Amazon Missed French Deliveries Goal After Warehouse Closures (Bloomberg) — Inc. is the undisputed winner of Europe’s pandemic-driven boom in e-commerce — except in France.  ... Read more »

WWE Champion Big E on performing in Saudi Arabia: 'It is really a blessing'

© WWE WWE Superstar Big E will defend his championship title Drew McIntyre at Crown Jewel in Riyadh. Photo: WWE Long before he was on top of the WWE world, ... Read more »

What does the new Bitcoin futures ETF mean for investors?

© SPENCER PLATT An electric banner for the newly listed ProShares Bitcoin Strategy ETF is displayed on the floor of the New York Stock Exchange on Tuesday. AFP The rollercoaster ... Read more »

Evergrande shares tank after $2.6bn deal collapses

© Lee Jin-man Shares were mixed in Asia after major Chinese property developer Evergrande said a plan to sell its property management arm to a smaller rival had fallen through. ... Read more »

SADC's Ramaphosa deploys envoys to protest-hit Eswatini

© AFP Barricades are seen in a road during a protest in Mbabane, on 21 October 2021. At least 80 people were injured in Eswatini on 20 October 2021, a ... Read more »

COVID: India administers 1 billion vaccine doses

© Provided by Around 75% of India’s eligible population have received at least one dose India has administered 1 billion doses of the COVID-19 vaccine so far, officials said ... Read more »

Cyril Ramaphosa and Julius Malema head to Western Cape as campaigning for local government elections heats up

© Provided by Pretoria News Johannesburg – The ANC and EFF are sending the big guns to the Western Cape with President Cyril Ramaphosa and red berets leader Julius Malema ... Read more »

COVID-19 cases on the rise in NSW

NSW will spend its way out of the COVID torpor as fully vaccinated people embrace new freedoms that are likely to see daily cases spike in the coming weeks. © ... Read more »

Australia delivers 2nd batch of oxygen concentrators to Philippines

© NTF COVID-19 Fracebook post Australia delivers 2nd batch of 100 oxygen concentrators to the Philippines The Australian government on Thursday turned over 100 oxygen concentrators to the Philippines for ... Read more »

More solons condemn reported 'no vax, no pay' policy

Batasang Pambansa Complex Batasan More members of the House of Representatives on Thursday expressed opposition over the supposed “no vaccine, no salary” policy being implemented by some companies amid the ... Read more »
On you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic