Can I change the loan amount during the

2 min read

Before offerEasiest to change

LowerSimple to reduce

HigherMay re-check

Re-runAffordability if up

Reducing the amount

Asking for less is straightforward at almost any stage before drawdown, and often improves your position — a smaller facility is more affordable and easier to approve. Tell your contact and the offer is adjusted. If your need has shrunk, there is no benefit to borrowing more than you require.

Increasing the amount

Asking for more mid-application means the lender re-tests affordability against your turnover and commitments, and above a threshold may bring in a human underwriter or a security requirement. It is doable, but treat it as a small reset rather than a tweak. Size the figure properly first with the funding-requirement calculator.

After the offer

Once you have a formal offer, a change usually means a revised facility letter rather than an edit. If you might need more later, ask about a facility that can be topped up, or a revolving line you draw as needed. Check the new figure with the repayment calculator before you confirm.

Frequently asked questions

Will increasing the amount delay my application?

It can, because the lender re-assesses affordability and may need extra evidence. A decrease rarely delays anything. Get the amount right before you apply to avoid a reset.

Is it better to apply for more in case I need it?

No. Borrow what you need — over-borrowing raises the repayment burden and can make the application harder to approve. If future needs are uncertain, a flexible facility fits better than a bigger fixed loan.