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Mortgages or Loans for Major Renovations
EdwardJG
Posts: 1 Newbie
Hi All, looking for a little guidance on the best way to raise finance in this tight market for a major redevelopment of my house. The project will take my current 2 bedroom bungalow and turn it into a 5 bedroom house. I have some cash to start the work, but will need to borrow more to finish it all off. My total borrowings will exceed the current value of the bungalow today, but they will be well under 70% LTV of the projected market value of the finished property.
The major banks are not interested in offering me a mortgage for this kind of project at the moment, so wondering if anyone knows of any providers that specialise in staged finance / mortgages for major house redevelopments ?
E.
The major banks are not interested in offering me a mortgage for this kind of project at the moment, so wondering if anyone knows of any providers that specialise in staged finance / mortgages for major house redevelopments ?
E.
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