We Tell You All About Funding a Renovation: Your Options

We Tell You All About Funding a Renovation: Your Options

1. Re-mortgaging

The most efficient way of borrowing is to re-mortgage if you own your own home or another property. Re-mortgaging is typically cheaper than bridging finance, you will need to have adequate earnings to prove you really can afford extra repayments.

Just how much you’ll borrow relies on:

  • Your major home’s equity (its current value minus what’s owed on the existing mortgage)
  • Your credit history
  • How much the proposed improvement might enhance the property’s value.

Re-mortgaging will be the possibility to get a less expensive deal in your loan that is existing as a brand new one. (más…)

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