How to raise money to fund big extention/renovation?

Belka

Hi, I hope you could help us fund a solution. We are looking to buy a large bungalow with a view to convert it into a 2 storey family home. The purchase price is £500k, our mortgage balance is £400k (80% loan to value). It will cost around £150k to extend upwards and renovate the property, and we will ned to raise £100k. The value of the finished house is going to be at least £650k. The problem is that the banks won't lend on the end value of the property, so we are keen to understand if we have any other options to raise £100k, finish the project and then remortgage on the new value of the finished house?

[Deleted User]

probably non as you will already have an 80% mortgage,you may have to waited a good few years for the property and the equity to increase