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Original poster

Additional mortgage for home improvements

2 replies

Vickibee · 04/06/2013 15:47

How easy is it to get sat £7500 to build a small porch extension? our mortgage is low - owe £27000 on a house worth £160000 so low LTV. I earn 15000 part time and Dh similar. Anything I should know before contacting Coventry BS?
Thanks in advance

OP posts:
Rockchick1984 · 05/06/2013 09:28

Compare the costs of extending the mortgage to the costs o taking a personal loan - although the interest rate will be lower on the mortgage it may cost you more long term depending on arrangement fees and how long you have left on the mortgage as you will be paying the interest over a longer term.

Original poster
Vickibee · 05/06/2013 12:26

Thanks Rock Chick We hadn't considereda personal loan, will look into tthat. Although we do have a flexible mortgage so we can overpay so this may well be the best option. Pay off lumo sums to clear it down quicker

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