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best type of loan product for me?

catfish31 Posts: 1 Newbie

13 February 2024 at 6:57PM in Mortgages & endowments

Hi,

New to the forum and could do with some advice, Im currently morgage free, house worth around 280k.
Bit about me Im 47 and earn approx 42k a year with no debt.

We've decided to stay where we are having lived here 20yrs now and do a bit of internal remodelling and embark on having a rear extension under permitted development.

Now finance wise im looking at around 85-90k all in for the building work and new kitchen costs.
The dilemma I have is I have the money to do this but I think I'd prefer to finace half of the work and borrow the other half and pay it back monthly over 7/8yrs providing its not to costly as up until recently I was used to paying a morgage anyway.
The only loan I've ever had is a morgage. I guess my question is what type of product should I be looking at, a personal loan, a home improvement loan or a remorgage [if that option is even open to me being morgage free}

Cheers

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