When personal borrowing exceeds a certain percentage, lenders may require additional security for the loan.
If lending exceeds a certain loan-to-value (LTV) most lenders may require extra security. The simplest form of additional security is a single mortgage loan-to-value. Alternatively lenders may accept other security such as cash or shares being deposited with them or a charge over another property.
When lending exceeds a certain loan-to-value lenders may require additional security. The simplest forms of additional security would normally be cash, shares and/or other property.
Any security for a mortgage in addition to the basic security, which is the house. The main type of additional security is a single premium insurance policy (colloquially, a MIG - mortgage indemnity guarantee). Strictly if accepted by a lender this is ‘other' rather than ‘additional' security.
When lending exceeds a certain Loan to Value lenders may require additional security. The usual form is a High percentage Advance Fee "HPA". The lender uses this fee to purchase indemnity cover to protect the lender in the event of loss. No protection is offered to the borrower who remains responsible for repaying the whole of the debt to the lender. Alternatively lenders may accept other security such as cash or shares or a charge over another property.