Taking money out for extension

joshremlin

Hi All,
I'm sorry if I'm duplicating this but how do I go about taking money out on my mortgage to pay for a extension? We're wanting a bigger living room and extra bedroom turning our 2 bed into a 3.

Am I better off getting planing and prices of the extension then sitting down with a mortgage advisor and saying I need x amount or speaking with the mortgage advisor first ?? I just don't know the best way round it and we don't want to move the house is getting a tad small any help appreciated!! I thought of a bank loan too.

Thanks
Josh

Lilla_D

Hi Josh,

Speaking to a broker is always a good idea to get an understanding of how much you could borrow and if you needed to do anything in order to get into a better position for obtaining a mortgage. For example, repaying some credit commitments first or preparing another year Ltd company accounts dependent on your situation.

I don't know about the costs involved in getting planning permission, but speaking to a broker doesn't normally cost anything, so I'd say it's worth speaking to a broker first. They can also answer any questions you may have re your mortgage options/timeline/costs.