Borrowing more for home extension

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Hi

Just a quick query

I purchased a property about 6 months ago.

My deposit was quite large about 60 percent of the property value.

I went for the maximum mortgage I would be lent based on the lenders affordability.

I am looking to extend the property in the not so distance future and wanted to know the chances of
Borrowing more money based on property value.

The amount I’m looking to
Borrow would add about £100 a month to my mortgage based on calculations and I won’t have any problems paying this.

The extension will add to the value of the property further

My question is when borrowing more will the lenders take into account salary and affordability again?

As I borrowed the max of this is the case I may have to wait until I have paid of a larger chunk of the mortgage or save up more

[Deleted User]

The lenders will base 100% of their decisions on affordability. It might mean the calculations have got more generous (some lenders reduce loan amounts for FTB's for instance) or it may have reduced and you have no other options.

There is also the option of remortgaging to a lender that will lend more than your current one. And there is also the option of a 2nd charge loan. Their multiples tend to be a bit higher but you pay extra costs for the privilege