Remortgage and taking additional amount for extension

sah705

Hi all,

I am currently looking to remortgage and take an additional amount for an extension.

I have a rough idea about the house's current value but have booked a home valuation for next week to get an accurate price.

I have been quoted for the building work so know how much that will cost, based on where I think the house value is the additional amount would take me to around 93% LTV

Rather than paying inflated interested rates for being over 90% LTV a family member has offered to lend me the money to have the building work completed, I can then remortgage when the extension has been done and the LTV will be under 90%

Question is will the banks then class this as debt consolidation and potentially restrict the max LTV to 75%. If so does anyone know of another way of doing this.

Thanks