The change means that if the market value has increased at that point, the 75 per cent maximum loan to value (LTV) will be re-applied to the revised valuation, subject to underwriting.
This may mean the borrower can then borrow a greater amount, while the loan term can be extended for a further 12 months at this point.
Andy Reid, director of sales at Oblix, said the new feature would provide borrowers with more flexibility and options.
He continued: “It’s a great example of how Oblix Capital is using its experience and understanding of the market to offer creative real estate lending solutions.”