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!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
remortgage with high ltv for extension
me1703
Posts: 1 Newbie
does anybody know if there are any mortgage companies out there that would take into consideration the value of our property after a two storey extension had been completed??? we have £91000 left on our mortgage and the value is roughly £130000. we need 25-30k for extension as growing family is making us feel clausrophobic an we dont want/cant afford to move as a 3 bed property in our area starts at around £170000.the value of our property after the build would be around £145000. please help!!!!!
0
Comments
-
If I recall previous answers on this point correctly, the valuation is almost always done on the property 'as is'; the lender has no guarantee that the money will in fact be used on the extension (general comment, not aimed at you specifically), nor as to the quality of the work or the likely value of the house after it's completed (could take years, market could nosedive).
Others will know if there are specialist lenders around.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.9K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 246.9K Work, Benefits & Business
- 603.5K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards