loan help please

shaznstubs

hiya,, my partner and i are looking to borrow £25,000.00 to do a garage conversion plus extension. We are not sure whether the best way to go would be to add onto the mortgage or to get a personal loan.the property is currently worth £150,000.00 with our mortgage sitting at £103,000.00.
any advice would be much appreciated
shaz x

BugsyBrowne

shaznstubs wrote: »

hiya,, my partner and i are looking to borrow £25,000.00 to do a garage conversion plus extension. We are not sure whether the best way to go would be to add onto the mortgage or to get a personal loan.the property is currently worth £150,000.00 with our mortgage sitting at £103,000.00.
any advice would be much appreciated
shaz x

We need to know what your income is and what is the balance of debts you have at the moment.

shaznstubs

our combined annual income is £32,000.00 and other than the mortgage we have 1 loan which has around £3,000.00 left :O)

CLAPTON

getting an unsecured loan of 25k with such a low income is most unlikely
try your mortgage company;

Consumerist

Be awre that if you are able to add this to your mortgage, your LTV will suffer if or when you come to remortgaging.