MORTGAGES & FINANCE OPTIONS

Few people have the cash available to fund a major renovation solely through savings, or at least not enough to see them through the whole project. However, there are various options available to make sure you have the money when you need it. The right route for you will depend on your personal circumstances, if the property is currently habitable and whether you’ve already got a mortgage on an existing house. Here are the main contenders:

Re-mortgage You can free up equity in an existing house by borrowing against your mortgage. How much you can secure will depend on your personal circumstances, but it’s generally a cheaper option than bridging finance.