ljames555
Member
Registered: 2nd Sep 03
User status: Offline
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Going to be buying the house I currently rent (off my old man) and was wondering what advice or experiences people have regarding a new mortgage and doing a extension straight away.
The extension is roughly 48m2 and is either going to cost between 15k-30k (going to try do certain jobs myself and my mates a brickie)
Now I know mortgages are a nightmare at the moment so is it best to just get one on the house alone or either get a loan or remortgage (if possible straight away)
What is the process for a extension ?
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whitter45
Member
Registered: 15th Nov 02
Location: Norton
User status: Offline
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best thing to do is secure the house first - so get a mortgage on the house as it is
Then depending circumstances get a loan to pay for the extension
Doubt so early into a mortgage plan they would let you re-mortgage and depending on your deposit you initially put down you might not have enough equity to release 30k for the extension
If its lease hold you will need to get landlords permission which will involve costs and also plans being submitted
If the house is less than 10 years old check with the builder as they will have stipulations on what can be done in the first 10 years as they would have had this to get planning permission of the build of the estate
You will obviously need local planning permission via the council also
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AndyKent
Member
Registered: 3rd Sep 05
User status: Offline
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What he said.
Get the ownership sorted first.
Work out the cheapest way of financing the works - likely a personal loan rather than on the mortgage.
Get a design/planning/building regs in place.
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ljames555
Member
Registered: 2nd Sep 03
User status: Offline
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Cheers fellas Ill secure the house first and see about a loan.
House is 1940s.
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