Mortgage for home improvements

hopeful_here

I want to do some home improvements on my shared ownership property and understand increasing my mortgage is the best way to finance these.

Due to a bad credit history it took me some time to find a mortgage provider but eventually got a mortgage.

I have had this mortgage for over a year now and wonder does it make sense to approach the provider at this stage? What sort of attitude should I expect regarding increasing the mortgage for home improvements

Alternatively should I go to a broker and see if I could get a better deal with a new provider or is it too soon to go to other providers? I understand there are not many shared ownership providers out there.

kingstreet

What equity do you have in the property?

What penalties do you face if you tried to remortgage elsewhere?

hopeful_here

I have 25% equity in the property.

I will check out the penalties in remortgaging.

opinions4u

How much do you owe?

How much is your share of the property worth?

How much are you looking to borrow?

What are the improvements that you're doing?

hopeful_here

I owe 60000 and my share is worth 80000+

Looking to borrow about 10000 to update the kitchen and bathroom and general decorating.