Credit on your existing mortgage - providing a much deeper advance Overdraft With an agreed upon overdraft, you can save money than simply you've got in your family savings, to a specific amount. You'll be billed interest towards number, that may be greater than for the a credit card or a personal loan. Alternatively, you might be able to supply a great 0% overdraft. Remortgaging For example, for people who now have a mortgage of ?150,one hundred thousand and wish to buy a loft expansion that can rates ?25,000, you might apply to sign up for a mortgage to possess ?175,100000 and employ the additional ?twenty five,100000 lent to fund the job.