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Top up mortgage house renovation.

  • 10-01-2014 3:16pm
    #1
    restive
    Banned (with Prison Access) Posts: 1,066 ✭✭✭


    Has anyone applied for a top up mortgage to renovate/extend their home. I was thinking of taking advantage of the tax allowance announced by Michael Noonan. I am with Bank of Ireland and currently have a mortgage of roughly 90,000 with them.


Comments

  • #2
    DOCARCH
    Moderators, Home & Garden Moderators, Science, Health & Environment Moderators Posts: 18,444 Mod ✭✭✭✭DOCARCH


    What do you reckon the market value of your house is?

    It's really all to do with loan to value (in addition to the security of your employment).

    If your house is worth E900K and your existing mortgage is E90K (and you have a secure job) you will have no problem gettig a top up mortgage....however, if your house is only worth E100K, it might be a different story!


  • #3
    restive
    Banned (with Prison Access) Posts: 1,066 ✭✭✭restive


    It is probably closer to 100k.


  • #4
    DOCARCH
    Moderators, Home & Garden Moderators, Science, Health & Environment Moderators Posts: 18,444 Mod ✭✭✭✭DOCARCH


    I reckon you might have a problem then...:)

    Maybe you should try posting same question in the Banking forum?


  • #5
    sullydublin
    Registered Users, Registered Users 2 Posts: 179 ✭✭sullydublin


    DOCARCH wrote: »
    I reckon you might have a problem then...:)

    Maybe you should try posting same question in the Banking forum?

    Did you ever get the top up ?


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