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Mortgage free 2024 but want to home improve
Leobuddy
Posts: 1 Newbie
I am 34, I bought my house when I was 19. I will be mortgage free in 2024.
I bought my 3 bedroom detached house for 119 000 and looking online neighbours houses are selling between 170,000 and 200,000.
My house though needs lots of maintenance, like new Windows, doors, boiler, lost insulates, flooring, bathrooms and kitchen.
I don't have the best credit rating as got into a bit of a financial mess a few years ago but I'm getting back on track. I have a low credit score.
Someone mentioned to me about releasing money from the house to do this?
Does anyone know anything or give advice please. I really don't have a clue about this stuff. Thank you!
I bought my 3 bedroom detached house for 119 000 and looking online neighbours houses are selling between 170,000 and 200,000.
My house though needs lots of maintenance, like new Windows, doors, boiler, lost insulates, flooring, bathrooms and kitchen.
I don't have the best credit rating as got into a bit of a financial mess a few years ago but I'm getting back on track. I have a low credit score.
Someone mentioned to me about releasing money from the house to do this?
Does anyone know anything or give advice please. I really don't have a clue about this stuff. Thank you!
0
Comments
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You can;-
ask your current mortgage lender for a further advance
get a secured loan from a third-party lender
remortgage - a new mortgage from a new lender to repay your current lender and raise the extra funds.
You may wish to discount the third option if your current mortgage has early repayment penalties.
Broker assistance would enable you to fully investigate all options.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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