Mortgage for loft conversion

JonnyH2

Hi there,

Would really appreciate some advice with this..

I'm having a loft conversion done this year on a paid off house, which will cost £45,000..

Planning to get a mortgage to pay for it.

Is this the best option given the amount?..

...and is a solicitor required for a (relatively) small mortgage for the transfer?


Huge thanks for any help..

J

Thrugelmir

Any form of secured lending wil involve a solicitor. As the lender will wish the security for the loan to be correctly charged.

For the amount and term of the debt a home improvement loan would appear to be the best option.

JonnyH2

Thanks for your reply Thrugelmir..

Wouldn't a home improvement loan cost a lot more in interest?

Would it be possible to borrow that much?

Thanks again.

Thrugelmir wrote: »

Any form of secured lending wil involve a solicitor. As the lender will wish the security for the loan to be correctly charged.

For the amount and term of the debt a home improvement loan would appear to be the best option.