Can someone explain a bit to me about remortgaging

[newlabelwriter]

We are thinking of using some of the equity in our house to build an extension on our house and asking our same lender (Halifax) to do this. We have about £400k equity in our house and would be looking to borrow an additional £60k (ish). I've never done this before so not sure how this works? OUr bank accounts are with them and CCs etc. We have debt of about £5k (with Halifax) which we wanted to clear with this as well - is this something they normally consider?

I have extended my mortgage with my existing lender to cover the costs of an extension - they consider applications like that all the time. It was handled as a new part of my mortgage, so it's now in 2 bits. It involved going through the complete application process again, but it wasn't too painful - they needed all the usual info to do affordability checks etc. They'll talk through the different options with you, but I had a shorter term on the new bit so that it lines up with when the original term finishes, IYSWIM? They just take one combined payment each month.

great - thank you

I've remortgaged to release equity earlier this year. It was with a new lender. It wasn't a problem and the mortgage is in one bit.