When applying for a mortgage 'top up' what do you have to supply?

[Putmynewshoeson]

Currently have a mortgage with Santander. We are looking to move and have spoken to our mortgage advisor and she said we can port our mortgage (as we already knew) and either add a small top up (of £15k) if we don't want to pay that from our savings into the new property.

If we do apply for the 'top up' is this treated as a new product does anyone know? So would we need to go through all the checks etc again (Just getting an idea of how long the process would be) - to be honest as we are Santander customers anyway so they see our bank accounts, we didn't have to supply any documentation or go through loads of questions, but wondered if this had changed due to Covid.

We are currently porting (although not with Santander), and our lender is treating the additional £ as a new loan. We supplied 3 months of bank statements, completed the income and expenditure sheet and have been advised that it will take 3 - 5 working days to get approval. We also had to answer questions in the fact finding meeting about the impact of Covid on our jobs, the companies we work for and our income. Our LTV is 60% and we are borrowing way below what they would offer us (20% of the loan they said we'd been pre-approved for). Good luck with the process.

Thanks elf that sounds similar to us. Hope yours goes through ok!

We borrowed way less than we could have done for this house, and are only looking at a tiny top up, so hopefully it would go through without too many problems.