New mortgage

cheddah

I currently live in a mortgaged house and I'm thinking about selling and moving. 

Can I borrow more than I need to buy the new house and access the additional money as cash for home improvements or is it more sensible to get a bank loan?

MWT

You don't have to use all the equity you have in the house you are selling, you can retain cash that way, so get a 90% mortgage instead of an 80% mortgage for example.

ACG

You could put down a smaller deposit. 

Say yout current home is worth £200k and you owe £150k on the mortgage, that gives you £50k equity. 
If the new home is say £250k, you could put down say £30k and hold £20k to do home improvements. 

You cant get a mortgage for more than the house is worth. We tried that once, the world went to pot. 

YBR

Many years ago when I had just graduated, recent graduates were offered up to 110% mortgages. Bad idea.

Fortunately I knew the term "negative equity", and what it means.

Daisy_84

YBR said:

Many years ago when I had just graduated, recent graduates were offered up to 110% mortgages. Bad idea.

Fortunately I knew the term "negative equity", and what it means.

Did you take up the 110% mortgage? Were there any negative repercussions for yourself?