Top-up loan
Cards & borrowingAn additional loan amount added to an existing loan or mortgage.
Overview
Top-up loans increase the total amount borrowed.
They may extend the term or change your monthly payments.
Why it matters
- It increases your total debt and repayments.
- It affects affordability and eligibility.
- It may involve new fees or checks.
FAQs
Does a top-up loan require a new credit check?
Often yes, as the lender needs to reassess affordability.
Is a top-up loan better than a new loan?
It depends on rates, fees, and your repayment goals.
Related terms
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