22/10/2026
You might notice a ‘priority amount’ in your mortgage documents when taking out a home loan. But what does it actually mean?
Put simply, a priority amount gives the bank first priority to be repaid if your property is sold, ahead of other creditors. It's often set higher than your actual loan amount to cover things like unpaid interest and other costs, and can also make it easier to borrow more in the future without updating your mortgage.
The important thing to know is that it doesn't mean you owe that amount!
If you have any questions around your mortgage, please get in touch.