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Advice needed please! How to finance a house extension
Hamster14
Posts: 8 Forumite
Hi guys, wondered if you could help with some advice.
We've found a freehold property we'd like to purchase for £28k, and we're looking to spend around £15k on the property (for renovation and extension/ separate garage etc).
Is it best to take out a mortgage for the property, then look at the cheapest loans for the works, or are there other options?
Many thanks for any help!
We've found a freehold property we'd like to purchase for £28k, and we're looking to spend around £15k on the property (for renovation and extension/ separate garage etc).
Is it best to take out a mortgage for the property, then look at the cheapest loans for the works, or are there other options?
Many thanks for any help!
0
Comments
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Unless this is a miss type on property value and lending requirement you are well advised to arrange any lending via a broker prior to purchase.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
The figures are correct, it's a great deal! I've never had a mortgage or loan in my life so this is all new to me. The forums are great for learning!
Is it possible to arrange this myself with lenders or is it best to use a broker?0 -
Use a broker, these figures are very low and will cause a problem for many lenders.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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