Mortgage Interest
When the lender checks your monthly outgoings to determine affordability, they will also consider the repayments that you’re making to creditors.
If you decide to remortgage to fund your renovation, ensure that you use a mortgage advisor.
You will be required to demonstrate to the lender that you are actually capable of affording the repayments if you remortgage.
When the lender checks your monthly outgoings to determine affordability, they will also consider the repayments that you’re making to creditors.
Renovations are generally cheaper than moving house. To personalise your house more and make it fully centred around your unique needs.
Cost. The lender’s assessment will factor in the expense of the home improvements to give you an idea of the price you will need to remortgage for.
Should I Move House or Remortgage to Make Improvements to My Home ? The initial excitement of moving into a new home eventually fades.
If you are on the fence regarding the issue of whether you should move house or remortgage to make home improvements, the simple answer is that the latter is your best option as has been made abundantly clear here.
