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Extra on mortgage for extension

Am considering borrowing (approx £50k or £60k) some more on our mortgage to fund an extension and home improvements, if its approved is the money just transferred into your current account please?

Probably a stupid question, but have only ever used mortgages to buy houses, so you never actually see the money as its dealt with by the solicitors :o

Comments

  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
    10,000 Posts Fifth Anniversary Name Dropper Photogenic
    Well yes. Where else would they put it ? When you did a house sale/purchase you may well have had a few quid left over making its way back to your bank but you've probably forgotten that.
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