advice please

spinachmuncher

I had to buy a house quickly a year ago - I have a £90k mortgage having put£75k down. At the time I had 20K savings. However after a back injury at work I only have 8k left. I need a new bathroom , I need new windows and I would like a new kitchen.
To do all 3 things I've estimated I need to find around another 12k . Do I get a loan or can I get some of my 75 k back out of the house ?
Also have 8k on an interest free credit card that Im paying off
Speak slowly Im a novice at this !

glosoli

Are you in work now?

sourcrates

spinachmuncher wrote: »

I had to buy a house quickly a year ago - I have a £90k mortgage having put£75k down. At the time I had 20K savings. However after a back injury at work I only have 8k left. I need a new bathroom , I need new windows and I would like a new kitchen.
To do all 3 things I've estimated I need to find around another 12k . Do I get a loan or can I get some of my 75 k back out of the house ?
Also have 8k on an interest free credit card that Im paying off
Speak slowly Im a novice at this !

12k seriously ?

Depending on the size of your house, and of course how vain you are in terms of quality, you could easily do it for 6-7k.

I had 8 double glazed windows, plus a door, new bathroom, and kitchen, not cheap carp either, for 6k.

Fitted the kitchen and bathroom myself, if your unable to do that then factor in fitting costs.

I assume your talking about a secured loan on your house, not always a good idea, it's 50/50 either way really.

System

£12k? We replaced all the windows in our house for £3k, 3 large rectangle windows, three more square ones. A new bathroom can be done for a few thousand.

Unless the glass has fallen out of the windows and there's a hole then you don't need new ones as long as they keep the rain and wind out. As long as the stuff in the bathroom is functional then you don't need a new one. Open up a regular saver account, stuff £200-£300 a month in it, use the money to get the work done in a years time.

[simon]

Save your money for future health care and sickness don't trust NHS

Ilona

Remove the word 'need', replace it with 'want'.

I moved into a house with a grotty kitchen, I put the maximum deposit on the house which I could afford, no money left for anything else. Save up a few years until I had enough to pay cash for new kitchen and replace bath.

As long as you have water coming out of your taps, and a means to cook food, all the rest is cosmetic. If the glass is not falling out of the windows they can wait.

Cut back on your day to day living expenses, keep an account of every penny you spend, squirrel money away for large items.

Ilona

ReadingTim

You effectively have no savings, as the £8k you have left is matched/wiped out by the credit card debt. Unless you've returned to work after the back injury, now is not the time to be borrowing £12k.

Suggst you save up to buy the new bathroom, kitchen and windows, and use the time to learn the different between "needs" and "wants".

spinachmuncher

goodness me some judgemental people here, I actually need the windows as they leak , and the bathroom is not functional.


As an NHS nurse yes I'm employed.

spinachmuncher

use time to learn ? how judgemental of you and bloody rude

spinachmuncher

its the fitting costs that are the stinger

Pixie5740

I've been doing quite a bit of work on my home recently and I've managed to borrow it all at 0% so my advice would be to try doing that before remortgaging or getting a personal loan, or at least trying to get as much at 0% as possible. I bought my kitchen through IKEA so that was 0% but doesn't include fitting, you'll need cash to pay a joiner, and the rest I paid for using a Virgin Money Transfer credit card.