Financing an extension

[thinfourth2]

Okay we are considering an extension to the house in about 2 years time

We bought the house 3 years ago for £300K but its valuation for mortgage is £275K.

We currently have £160K mortgage.

We think the extension will be about £70K and no idea how much it will to add to the house as it won't add any bathrooms and house values appear to depend entirely on how many bathrooms you have. The extension will add a home office, a dining room and a MASSIVE lounge with a log fire.

So what would be the best way to finance this?

No other loans etc.

[Wacky Racer]

thinfourth2 said:

and house values appear to depend entirely on how many bathrooms you have.

Well I've never heard that one before.....

House values depend on lots of things...

Location
Availability of low priced mortgages
Individuality
Proximity/or not, to schools,
Motorway access...etc,etc.

I would have thought an extension to your existing loan (if possible) would be the first place to look.

Don't overstretch yourself, it's not nice living on beans on toast.....

[thinfourth2]

Wacky Racer said:

thinfourth2 said:

and house values appear to depend entirely on how many bathrooms you have.

Well I've never heard that one before.....

House values depend on lots of things...

Location
Availability of low priced mortgages
Individuality
Proximity/or not, to schools,
Motorway access...etc,etc.

You would think that but its mostly bathrooms

I think there are new build on the market with more bathrooms then bedrooms

[Sarnie]

How else are expecting to finance this bar a remortgage?

[thinfourth2]

Sarnie said:

How else are expecting to finance this bar a remortgage?

Well if i knew that i won't be asking the question

[dalenorth]

Secured loan maybe?

[Sarnie]

thinfourth2 said:

Well if i knew that i won't be asking the question

Wow.

I'll just get on with my weekend rather than providing mortgage advice for free.......