Building an extension-help!

[pegspurplecat]

We need to build an extension (actually knock down a terrible old extension and build a slightly bigger one) but I'm completely confused about how to organise it all. We have had some initial plans drawn up by an architectural technician. He has drawn up one that would be what we want ideally and one that is the bare minimum of what we need, so we could get an idea on price.

We need to remortgage to do the extension but hope we could do this without borrowing beyond what the property is currently worth and this will impact which plan we go for. Our house is very rural and it isn't easy to get an idea from the property market how much it is currently worth, so how do we get a current value to start off the remortgage process? Also, should we put in a planning application before remortgaging? We've had the bat survey done so don't need to wait for that.

I'm feeling a bit overwhelmed with it and so if anyone can give some advice on this and how to organise it all in general/general tips for doing an extension then I'd be grateful!!

It's such a minefield isn't it?? & a bit chicken & egg really, there's not necessarily a right or wrong place to start. I would personally suggest that you really need to have a firm idea of what your budget is before going in for planning, as you said yourself, you have 2 sets of plans which are dependent on cost. Your current mortgage provider should have some info on borrowing more for home improvements. Ours is with Nationwide & they let us borrow up to 85% LTV for home improvements. Base your property value on the minimum appreciation in your region since you bought it. You can find this on Rightmove stats I think, or the UK Price Index. If your mortgage isn't up for renewal, then you can still borrow more by taking out an additional product, otherwise you might have to pay early repayment fees.

We have just remortgaged. And we also did some years ago for our extension. The company will take their own valuation but be warned that in our case they would only lend 75% of the current value.

Ok. Thanks, that's helpful! We'll start with our current mortgage supplier. We are well out of our deal, so no worries about penalties.

I know we need to get on with it but it is daunting! We'll need to move out while it is done and we have one DC due to start primary in just over a year and a baby so freaking out about the timings now.

Ok so first thing speak to mortgage adviser. Get an idea of budget. Then get the plans agreed by the council and sent out to tender to a few builders. Our architect did this for us which was great because at least we knew we could trust the builders! Only then will you realistically know if it's possible or not. Once you have an idea of price then go back to your mortgage adviser. You may not be able to start for a year from this point if your chosen builder is busy. This is a good sign!