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Home improvements. Re Mort or Loan. Help!
peteatreat
Posts: 6 Forumite
Hello. We are in the very fortunate position of having only 5k left on our mortgage. We need to now extend our property and are looking to raise approx £25k for the work. Would it be better to contact our existing lender for a Home Improvement Loan or consider a Re- Mortgage. Obviously we are after the cheapest rate and wish to avoid if possible arrangement fees etc. We also intend to clear the extra borrowing asap so we do not want to be tied into a fixed rate deal. Any help would be appreciated. Thanks.
0
Comments
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Quote: Home Improvement Loan or consider a Re- Mortgage........It's the same thing.........
You are borrowing some one else's money ...you have to pay for the privilege...so don't be surprised if costs are involved
You could take a personal loan but rates are higher then mortgage rates......0
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