Need to finance roof repairs. Can we adjust mortgage or other option to fund it?

mickym · 9 July at 11:52AM

Current main financials:

Mortgage

£65,951.90

Remaining term: 11yrs 5mths (we have been in the property for 14 years this year)

Current LTV: 23%

1.99% Fixed rate until 30/06/27

Loan for car

£9,948.00 (£194.65pm x 60 months at 6.50% fixed)

Savings

approx £2500

Our attached garage and kitchen flat felted roofs need replacing, also we have a 'lean-to' orangery type conservatory that needs a new roof /guttering too.

Its something that needs essential repair this summer before the winter, and im trying to determine the best option to fund it.

I think the cost of the repair is likely to exceed my savings, but also id like to keep that for emergencies if possible.

Liek many others are experiencing, we dont have much spare cash these days at the end of the month, so looking to limit monthly extra expendature.

What options do we have? Can we extend borrowing on the mortgage we have by increasing the amount we borrow or lengthen the remaining term?

Link to our mortgage company website with borrowing more options: https://www.ybs.co.uk/mortgages/additional-borrowing-on-mortgage

New to this so would appreciate any help in discovering options.

Thanks!