It would seem that GE are being overly cautious here as the loan to value is at the most 68%, I am going to assume that they may require the total borrowing to be below 60% as most of their new products are at that level. Why don't you consolidate the secured loan with B&W, is the product you are looking at a 60% and will not allow you to do so??? The overall rate would be better and if not possible....get an unsecured loan for £10K and consolidate the £96K?? Have you considered this option yourself, if you see a financial adviser, B&W no longer use intermediaries and may not have access to their rates.