Funding loft conversion

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Hi, we’re thinking of buying a house where we would need to do a loft conversion asap.

The mortgage would be a 5 year term so couldn’t withdraw remortgage to release funds. Equally holding back 30/40k from our deposit is not doable (though could probably hold back 10k or so for it).

Are there other ways of funding it that I’m not seeing? Would a bank loan you the money on a newly bought house?

Thanks for any insights you can give!

Ps we have saturated the market and haven’t found anything else suitable for us so buying this house then converting the loft into a bedroom is the best option.

You can get a second mortgage (subject to your loan to value). You can get a personal loan.

If you can't get a large enough mortgage to fund the loft extension - then can you actually afford it? In which case just put up with a smaller house for a few years until you can (which is what I've been doing!). The potential in the house will still be there in future.

I didn’t realise about getting a second mortgage - thank you, I’ll look into it.

The value is quite significantly below what we can afford (c.100k) but we prefer to have a larger deposit in this climate. The amount we would borrow on the first mortgage would be about 260k.