We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Mortgage or Re-mortgage
Dan16
Posts: 1 Newbie
I have a property that I own outright worth £200K and I am looking to extend the property which we believe will cost around £50K.
What is the best option to fund this? A first time buyers mortgage, a re-mortgage or a loan?
We have looked in to loans and we still think a form of mortgage is the best option.
If anyone has been in the same position please let me know what method you used.
Thanks
What is the best option to fund this? A first time buyers mortgage, a re-mortgage or a loan?
We have looked in to loans and we still think a form of mortgage is the best option.
If anyone has been in the same position please let me know what method you used.
Thanks
0
Comments
-
It's classed as a remortgage on an unencumbered property.0
-
For £50K a mortgage will more than likely be the best option.
Consider offset mortgage as you can take out mortgage and put the money into the offset account( saving you interest) and then pay for building work as the work is done.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.2K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards