Further advance on existing mortgage

[alunrw]

Can anyone help please regarding this ? On checking the website of my mortgage lender they state " Borrow up to 95% of the value of your home (including any existing mortgage commitment)" - does this mean that they take into account the current mortgage amount outstanding and reduce it from the valuation prior to the 95% applying, or
does it mean that you can feasibly borrow 95% of the TOTAL value as a further advance - I would guess the former but anyone advise please? its just that the term "including" has confused me in this case (Its the Alliance & Leicester if thst helps)

[Loosehead]

It means a total borrowing of 95% of the value. So if your house is 100k and you have a mortgage for 50k you can borrow a max of anothe 45k. Beware though they may demand an indemnity for this high a percentage. The total you borrow will also have to fit within the standard multiple rules of the lender so you can only borrow more if you earn enough.

[alunrw]

Thanks for the reply, thats what I thought,