If approved for a Top Up loan we’ll add any existing balance to the additional money you wish to borrow and create a new loan for the total amount. This means you'll only have one simple monthly repayment.
For example (for illustrative purposes only):
- What you have left to pay on your old loan : £1500
- The additional money you would like to borrow Top Up amount: £2000
- New loan amount: £3500
- Money paid to you: £2000