For remortgage cases where the property is either unencumbered or inherited property, proof of property ownership must be obtained. Refer to Maximum LTV page for a breakdown of our LTV and additional borrowing limits.

Additional Borrowing

We do not currently offer additional borrowing for existing Generation Home customers

Remortgage with Additional Borrowing

The purpose of additional borrowing should be genuine, legal and Generation Home does not support speculative investments.

Unacceptable loan purposes

The following borrowing types are not acceptable; however, this list is not exhaustive and if the borrowing purpose gives cause for concern, guidance should be sought from Senior Underwriters or from Credit Risk.

Accident Sickness and Unemployment premiums
Business Purposes
Tax Bills e.g., unpaid self-employed corporation tax.
Court Fines
Illegal Activity
Speculative purchases, including currency speculation e.g., Cryptocurrency, gambling, stocks, and shares.
Transfer of title where the transferor(s) are bankrupt and/or the purpose is to avoid payment of their liabilities to creditors.
Where the purchase application is part of an assignable contract.
Structural Home improvements (this includes internal wall removal, extending a property, major roof works or a new staircase)

Acceptable types of additional borrowing include:

Staircase to 100% shared ownership
Repay Help to Buy Loan
Repay Shared Equity Loan
Purchase of Timeshare
Purchase of a Buy to Let Property
Purchase of 2nd Home /Holiday home
Home Improvements (Non-Structural; Improvements to a habitable property, such as a new kitchen or bathroom, central heating, replacing double glazing, decoration, essential repairs, or maintenance to the property.)
Purchase Lease Extension/ Purchase of Freehold
School Fees
Debt Consolidation (Broker channel only)
Remortgage on unencumbered property (buy out partner)