Borrow more on your Nationwide personal loan
If you already have a personal loan with us, you can apply to top it up or take out a new loan. You can't borrow more than £50,000 in total across your loans with us.
Your options for borrowing more
When you get a quote for borrowing more, we’ll give you some options to choose from. We’ll base your quote on:
- the amount left to pay from your existing loan
- how much more you want to borrow, and
- how long you want to pay back your loan.
Option 1: Combine your loans
You can take out a new, larger loan to repay your current borrowing plus the extra you want to borrow. This is sometimes called a top-up loan.
If you have one existing loan
You can get a new loan that pays off your current loan and gives you the extra money you need. You'll then have one, larger loan with a new interest rate and new monthly repayments.
If you have two existing loans
If you have two existing Nationwide loans, you'll have the option to combine your additional borrowing with either one of them.
You'll get a new loan that pays off one of your existing loans and gives you the extra money you need.
You'll still have two loans, but one will include your additional borrowing with a new interest rate and monthly repayments. The other loan will stay on its original rate and term.
It's up to you which loan you want to combine your additional borrowing with.
Option 2: Keep your loans separate
If you have one existing loan, you can take out a second loan. This means you'll have a separate loan alongside your existing one.
You'll repay the loans separately, which means you'll have two monthly repayments to budget for. Your existing loan will remain under its original terms and interest rate.
Borrowing more with a joint loan
You can only borrow more jointly if you already have a joint loan with the same person. Both of you will need to agree to the extra borrowing.
What's the best borrowing option for you?
Sometimes a lower monthly repayment can mean a higher overall cost of borrowing. This is because you may have to pay more interest over the term of the loan. It's important you take this into account when deciding which option is right for you. We offer personal loans for terms from 12 months up to 10 years. You’ll need to enter the term in months when you apply.
Representative example
5.6% APR Representative (fixed). Based on an assumed loan amount of £10,000 over 60 months at an interest rate of 5.6% p.a (fixed). Monthly repayment £190.83. Total amount repayable £11,449.80.
This representative APR applies to loans of £7,500 to £25,000 over 1 to 5 years for our members. You could be offered a different rate based on your personal circumstances. The maximum you could receive is 29.9%.
Get a quote and apply to borrow more on your loan
Start your application to borrow more and we’ll give you a personalised quote. Your quote will only be valid for today.
Not ready to apply yet? Use our loan calculator to get a quick estimate of your interest rate and monthly repayments.
Related links
Other ways to borrow
A loan might not always be the right way to borrow the money you need. There might be a more suitable option for your financial situation.