Extension and mortgage

[mumdone]

What would you do. We are hopefully moving to a house which is about 100k below budget which will go towards extension and renovation. Would you keep the money aside now or withdraw from mortgage when needed in 6 months time. I’m inclined to keep it aside now so we’ve most of the funds lined up. Never know what might happen in 6 months!!

Keep it aside. You'd have to remortgage to release the funds, so could incur a second set of mortgage fees, you'd need to choose your first mortgage carefully to avoid early repayment charges, and as you say circumstances could change; if house prices depreciated quickly or a problem came up before the renovation you might find you can't get the full £100k.
Once you've renovated you can remortgage and hopefully get a better deal as your LTV should be better (asthe renovation and extension should presumably add value).