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Borrowing more help to buy mortgage Halifax
k123_2
Posts: 3 Newbie
I have a mortgage with Halifax with a help to buy loan attached. I’m going through the process of transfer of equity and have requested to borrow more for home improvements. Halifax have approved this and it’s sitting with help to buy now.
My query is, will help to buy allow me to borrow more for home improvements? There’s so much conflicting info online, my mortgage advisor hasn’t flagged this as a concern but I’m worried that it may cause issues.
Thanks
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Comments
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No idea about the help to buy mortgages. And I do know that lots of people would suggest you should never add debt to a mortgage at all - but generally that's talking about loans and credit card debts, not home improvements.
But I think it will depend on the type of improvements you intend to make. Replacing the kitchen cupboards or getting someone in to paint everything and put in new carpets - I would think that's something that can be done outside of the mortgage. Add extra rooms to extend the footprint of the house - that's a mortgage type thing.
My opinion only - I expect/hope that your mortgage adviser is much wiser about all of this.I’m a Forum Ambassador and I support the Forum Team on Debt Free Wannabe and Old Style Money Saving boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
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