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release equity and renovate or sell?
suzikettles
Posts: 32 Forumite
We have a dilemma, we have some debt about 25,000 mainly due to a new business that took longer to get established than we had hoped.
Our home is large and worth about 215,000 our mortgage is 93,000
we would like to remortgage to allow us to pay off our debt and also renovate our house by upgrading bathrooms, windows and maybe central heating system to make it more efficient and to set us up for getting older.
On the other hand my OH would like to sell, and we could get a new home for about 235,000 he says it would be more efficient and a smaller garden which it will.
We have a AIP via a mortgage broker for a new home but I would like to know if the renovating would be do-able then maybe we could down size in later life OH is 56 this yr and I am 51
He is self employed and I work full time
thanks
Our home is large and worth about 215,000 our mortgage is 93,000
we would like to remortgage to allow us to pay off our debt and also renovate our house by upgrading bathrooms, windows and maybe central heating system to make it more efficient and to set us up for getting older.
On the other hand my OH would like to sell, and we could get a new home for about 235,000 he says it would be more efficient and a smaller garden which it will.
We have a AIP via a mortgage broker for a new home but I would like to know if the renovating would be do-able then maybe we could down size in later life OH is 56 this yr and I am 51
He is self employed and I work full time
thanks
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