Order of doing things - financing an extension

[Mrsw28]

So we're having a single storey extension done.

We're at the "getting quotes" stage but obviously as we're going to choose our kitchen etc the quotes won't be accurate until we know how much the kitchen will cost. So, my question is this: do we go with our architect plans and design our kitchen so we know how much it will cost so we can get an accurate figure in mind or do we estimate and has the bank for the money we think we'll need?

Also, what happens if you ask your mortgage lender for money but you overestimate? Do you just give the excess back straight away and pay interest on the rest?

Complete an accurate plan so you have correct costings.
If you come in under-budget (which is highly unlikely) then what you do depends on the conditions of your loan. There might be an early repayment fee.

So price up the kitchen whilst getting quotes so all the costings are done?

I don't think we will come in under budget but I don't want to run out of money and have to ask for more.

Do the plans first. You can get an 'agreement in principle' from your lender without them needing to credit score you - at least that will give you an idea of how much you can borrow.

Okay, thanks.