Hi - hope this is the right forum for my question.
I want to extend my home due to arrival number 3 in August. For the work I want done, I reckon 60k will cover it - however I do not have this kind of money lying around (funnily enough)
My o/s mortgage is £238,00 and the house is probably worth around £280,000.
So, will I be able to borrow against the future value of the house? I have about £16k of my own money to put in - so would need to borrow around £45k - which based on current value would put me on 100 LTV!!!
Any advice, or tips on best way to raise equity greatly received - or is it a case of head down and save hard??!!
Thanks in advance. :beer:
I want to extend my home due to arrival number 3 in August. For the work I want done, I reckon 60k will cover it - however I do not have this kind of money lying around (funnily enough)
My o/s mortgage is £238,00 and the house is probably worth around £280,000.
So, will I be able to borrow against the future value of the house? I have about £16k of my own money to put in - so would need to borrow around £45k - which based on current value would put me on 100 LTV!!!
Any advice, or tips on best way to raise equity greatly received - or is it a case of head down and save hard??!!
Thanks in advance. :beer: