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Remortgage due - help needed
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geordiepaul2001
Posts: 318 Forumite
Hi all,
I'm not sure if this is the best place to ask the question but it's the most appropriate category I could find.
I am due to renew my 3 year fixed mortgage in 6 months and if the Nationwide house price calculator or zoopla are to be believed, then my home has gone up in value by about 20k.
My OH has been asking if we should get the garage converted into another room, and has hinted at a conservatory.
Both things that we couldn't currently afford without borrowing when we renew our mortgage or taking out a loan.
My question is, would borrowing now to get the work done work in our favour when we come to renew?
Obviously the work would increase the value of our home and should therefore lead to a lower interest rate.
Has anyone else tried this or is it best to avoid?
Paul
I'm not sure if this is the best place to ask the question but it's the most appropriate category I could find.
I am due to renew my 3 year fixed mortgage in 6 months and if the Nationwide house price calculator or zoopla are to be believed, then my home has gone up in value by about 20k.
My OH has been asking if we should get the garage converted into another room, and has hinted at a conservatory.
Both things that we couldn't currently afford without borrowing when we renew our mortgage or taking out a loan.
My question is, would borrowing now to get the work done work in our favour when we come to renew?
Obviously the work would increase the value of our home and should therefore lead to a lower interest rate.
Has anyone else tried this or is it best to avoid?
Paul
June 2016 - Pair of Brooks Glycerin 14's
July 2016 - Annual family pass to English Heritage
August 2016 - overnight spa break with dinner and breakfast for two
September - BBQ toolbox
July 2016 - Annual family pass to English Heritage
August 2016 - overnight spa break with dinner and breakfast for two
September - BBQ toolbox
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