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Looking for advice on borrowing more
Cupcake85
Posts: 72 Forumite
Hello I'm hoping someone can help.
I brought a house last July for 170000 done lots of work and had it recently valued at 210000, I owe 140000 and want to go to nationwide and borrow an extra 10,000.
How do you go about getting the extra and is it an easy process or is it similar to another full mortgage application? How long can it usually take? Thank you
I brought a house last July for 170000 done lots of work and had it recently valued at 210000, I owe 140000 and want to go to nationwide and borrow an extra 10,000.
How do you go about getting the extra and is it an easy process or is it similar to another full mortgage application? How long can it usually take? Thank you
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Comments
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Lots of problems here, valuation will be done on recent sales and you bought only 12 months ago.
Have you added value ? Loft conversion, extension, extra bedroom and bathroom.
Not a new kitchen or bathroom replacing an existing bathroom/kitchen.0 -
The whole house has been refurbished, lawn finished and new windows. The house opp mine sold earlier in the year for 205,000 and it was a like for like compared to mine0
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Ask Nationwide about additional borrowing and see what they come up with in terms of rate and valuation.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, 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. Please do not send PMs asking for one-to-one-advice, or representation.0
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