Advice needed on remortgaging for business venture.

[bramblina]

How happy are banks with this? Our mortgage is currently about a third of the value of our house and we need about the same again. Obviously it's the cheapest way of borrowing money but I'm not sure how the bank will view it. Any words of wisdom?

IME banks do not like to lend on your mortgage for business purposes and would probably stipulate that any further advance could not be used for this prpose - however in the main they do not check what you do with the funds after they are released to you. Beware though it can be very very risky, not to say reckless (if I can use that word) to gamble your family home on a business venture.

Don't do it. I've seen this arrangement go tits up many, many times.