100k spend?

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Anyone with knowledge happy to help me answer this question? Say if you needed a budget of 100k, how much of this is savings and how much is borrowed?

Ideally we'd spend a lot less than this but we're in an expensive area and want a two storey extension with new bathrooms and kitchen.

TIA

Bump

Hi. I guess it depends on how much you currently have in savings and how much you need to borrow?

Extension costs range from 1500-2500 per square meter with second floor being 50% of this. Kitchens range anywhere from 5-30k so a bug range but there are some very simple calculators out there which can give you a brief estimate.

I'm not sure how anyone can answer this without knowing more about your circumstances.

If I had £200k savings then I'd use £100k savings. If I had £0k savings then I'd borrow £100k. If I had £100k savings then it'd be about how comfortable I was running down my savings. Personally I'd go 75/25 in that scenario but it's all about your own circumstances.

Most mortgage companies would let you do additional borrowing depending on credit rating and previous payment history with them. Again there are some online calculators

As above, it depends if you have 2 or 200k in savings. People will have different circumstances.

Thanks for your answers guys. We gave closer to 2 than 200k savings!! I just didn't think banks would be happy lending out such a huge amount without some kind of down payment. I guess it's all done on prospective house values?

Sorry I'm a complete novice in this, both DH and I are pretty debt adverse but there are things we'd like to do to the house and I can't see us being able to save that much in the time we need.

Off to go look for some build calculators...