Getting a loan after mortgage agreement

Lbarn

As I said mortgage is not much more than rent, I have also comfortably paid off credit card and overdraft OH has paid off cc and has no loans.

betmunch

its not my place to say whether you should or should borrow to do the house up. My job is to make sure you have considered all options then find the best route for the option chosen. Professionally I can only help with the mortgage but I apply the same theory to other areas. BTW Abbey are one you definately need to check the solicitors will deal with

Thrugelmir

Lbarn wrote: »

As I said mortgage is not much more than rent,

Mortgage does not equate to rent. When renting you have none of the maintenance responsibilities that ownership brings.

Lbarn

Thanks Betmunch, ive emailed solicitor to check they deal with abbey.

dimbo61

Why £15K thats a huge amount for a personnel loan to do up a house.
Does it need a new kitchen or bathroom ?
You may find that if it needs lots of work the lender or surveyor may put a retention on the property.
Can you do some of the work yourself or get friends/family to help

Lbarn

Its mainly carpets/flooring, decorating, new fitted wardrobes, fireplace and some extras not essential i.e decking we want to do... its a new property so not worried at all about survey.

Thrugelmir

Lbarn wrote: »

Its mainly carpets/flooring, decorating, new fitted wardrobes, fireplace and some extras not essential i.e decking we want to do... its a new property so not worried at all about survey.

So do without for a while. Do the work as you can afford to.

As you are adding very little value to the property.

Lbarn

I appreciate the responses, however I am completley baffled as to why people go completley off the subject you started... my question was is it ok to apply for a loan after getting a mortgage not for people to second guess or give me advice on my personal finances.

I am not doing work to increase the property's value I am doing it to make it a lovely home for my family.

I wish to borrow rather than do jobs as we go along - A) Because we want them done before we move in Because my husband and I work incredibly hard and long hours as senior management and don't have the time nor energy to decorate.

I am not sure why I feel I have to explain myself and I am sorry if I upset anyone, but frequently on this forum I see that people start tearing people apart over a completley irrelvant subject matter.

My original post was not about what we can nor cannot afford, we know that - you don't.

Thrugelmir

Lbarn wrote: »

I appreciate the responses, however I am completley baffled as to why people go completley off the subject you started... my question was is it ok to apply for a loan after getting a mortgage not for people to second guess or give me advice on my personal finances.

Maybe that's because we deal with problems from people that have trodden a similar path. Buy now pay later is a cultural issue in the UK. In many cases, debt is the root cause of many issues that we now have to deal with.

If you post on an open forum. Expect a wide range of views and opinions. So just ignore those posts that you feel are unnecessary.

clive80

Lbarn wrote: »

I appreciate the responses, however I am completley baffled as to why people go completley off the subject you started... my question was is it ok to apply for a loan after getting a mortgage not for people to second guess or give me advice on my personal finances.

I am not doing work to increase the property's value I am doing it to make it a lovely home for my family.

I wish to borrow rather than do jobs as we go along - A) Because we want them done before we move in Because my husband and I work incredibly hard and long hours as senior management and don't have the time nor energy to decorate.

I am not sure why I feel I have to explain myself and I am sorry if I upset anyone, but frequently on this forum I see that people start tearing people apart over a completley irrelvant subject matter.

My original post was not about what we can nor cannot afford, we know that - you don't.

I agree with you there mate. It would seem rather then say nothing as they are unable to help some people feel they have to pick apart your post and answer an irrelevant part of your question just to make a point.