Home Improvements

Flappy_Chicken

Hi MSE Fans

We are about to embark on substantial home improvements. We have a slight issue in the best way to pay for these improvements. We are tied into our current mortgage deal until September, no point remortgaging as the redemption penalties are to expensive. Credit Cards are a no, no as the interest is too high. We could apply for a personal loan however I think the cost will be over £25k. The only option is to apply for a secured loan.

Has anybody any other ideas as to a different way to fund this project other than wait until September! Or could suggest a good lender!

Thanks

FC

recyclingbox

hi,
if there is enough equity in your house, you could approach your current lender for a further advance. It won't change your current mortgage deal, just increase the borrowing. However, with the way interest and inflation is going at the mo' any extra borrowing needs to be carefully considered.