Home Improvements Loan on Fathers 2nd Home?

chris1012

8 Years ago my father bought a 2nd house and made me the Trustee of the house. I contributed around 20% to the house at the time and since have been paying a monthly amount to him (out of choice) to pay towards it, even though he has gifted it to me.

The house was bought out right (no mortgage on it) and we was hoping to carry out some work on it to modernise it.
The work we want to carry out on it will require us to with mortgage the property or take out a bank loan.

As the house is not in my name, how would I go about obtaining a bank loan or/and re-mortgaging the house to pay for the works?

phil24_7

You couldn't get a mortgage unless you were buying part of the house (even then it wouldn't be easy). You could get a lone but it would need to be an unsecured one or taken out against your own house.