Additional Borrowing

Jfletch

Hi
We are currently having an extension built and at roof level - just about water tight

We have the money to finish it but would like to borrow an additional £15 k on the mortgage to get the kitchen I really want and the flooring etc

I have spoken to our mortgage provider and they have said we need more LTV

They can send a surveyor to re value to the propert - would the surveyor take into account the works we have done even if they aren’t completely finished ?

Thanks

muhandis

They would value it as is, not how it might be when the ongoing work is completed.

As it’s only 15k, you might want to explore the possibility of a personal loan?

Jfletch wrote: »

Hi
We are currently having an extension built and at roof level - just about water tight

We have the money to finish it but would like to borrow an additional £15 k on the mortgage to get the kitchen I really want and the flooring etc

I have spoken to our mortgage provider and they have said we need more LTV

They can send a surveyor to re value to the propert - would the surveyor take into account the works we have done even if they aren’t completely finished ?

Thanks

getmore4less

A half built extension could reduce the value in its current state.