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Glossary   >   F   >   "Further advance" Definition            Further advance The raising of capital by a borrower from his existing mortgage lender.This might happen if:the value of the borrower"s property has increasedthe borrower"s salary has increasedthe borrower wants to have a higher mortgageIn these circumstances, the lender will probably be happy to lend more money to the borrower provided he can afford the higher repayments. Glossary    Dictionary Search (powered by Google) WWW ITLOCUS.COM GLOSSARY.ITLOCUS.COM Translate a web page (powered by Google)      to German Spanish French Italian Portuguese Japanese Korean Chinese

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Further advance - The raising of capital by a borrower from his existing mortgage lender.This might happen if:the value of the borrower"s property has increasedthe borrower"s salary has increasedthe borrower wants to have a higher mortgageIn these circumstances, the lender will probably be happy to lend more money to the borrower provided he can afford the higher repayments.