Thinking about improving your home, buying a car or reorganising your finances? If you already have a Lloyds Bank loan, you may be able to borrow more.
If you already have a Lloyds Bank loan, you may be able to borrow more. How much we lend and the rate available are subject to our assessment of your circumstances.
If you choose to borrow more, you have the option to either completely replace your current loan with a new, larger loan, or take out a second loan.
This combines your existing loan and new borrowing into a single monthly repayment. This option also allows you to set a new repayment term, as long as it’s a year or longer. If you choose this option, your existing loan is automatically closed as part of the process.
Your new loan could be charged at a higher interest rate than your existing one and your loan term may be longer. There may be a charge to settle your current loan early – but it won’t be more than 58 days’ interest and we’ll tell you how much it’ll be when you apply. There’s no early settlement adjustmentCloseEarly settlement adjustmentYou can fully or partly repay your loan at any time during the repayment period. If you choose to settle your loan before it's completed its full term some of our loans may charge an early settlement adjustment. If you have taken out a Flexible Loan you agree to repay the capital plus the interest as it accrues. If you pay off your loan in full before the end of the agreed term, we'll calculate what you owe us at the time which will include capital plus interest accrued but no additional charge. If you've taken out any of our other loans, the amount you agree to repay includes interest that is charged to the end of the loan term. If you make an early settlement we'll reduce the charge for credit you have agreed to pay us which means you wouldn't have to pay all of the interest. This reduction may be adjusted by up to 58 days' interest - this is the early settlement adjustment. on our Flexible Loan. However, there might be early settlement adjustments on our other loan products: see managing your loan for more details.
If you choose to combine your existing and new borrowing, you’ll need to take out at least an extra £1,000. The total of your new and existing loan can be up to £50,000.
If you want to combine more than one Lloyds Bank loan or want to consolidate other debts visit your nearest branch for more information or call us on 0800 096 1356. Lines are open 8am-10pm, 7 days a week.
You can borrow more by taking out a separate loan. Each loan will have its own term and monthly repayment amount. With this option, you keep your existing loan running and take out a separate loan, paying each loan separately.
If you're registered for Internet Banking and you've been an existing Lloyds Bank current account holder for at least one month, you can get a personalised quote and a decision in just minutes.
If you hold a Lloyds Bank Current Account, call us on:
Lines are open 8am–10pm seven days a week.
We want to find a product that’s right for your circumstances, which is why we adhere to the Standards of Lending Practice, which are monitored and enforced by the Lending Standards Board.
To find out more you can read the statement of responsibilities, which details what’s expected of us, the lender and you the borrower.