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Can I remortgage for an extension based on the value of the completed work?

  • 28-03-2019 9:37pm
    #1
    AdamReyn
    Registered Users, Registered Users 2 Posts: 1 ✭


    If I'm an existing customer remortgaging for an extension can I apply for the mortgage based upon the value of the property upon completion of the works? Affordability isn't an issue but the overall cost of the works will exceed the maximum LTV ratio based on the current value of the property. Based on the finished value it would be well within the limits.


Comments

  • #2
    Bank of Ireland: Lorna
    Closed Accounts Posts: 423 ✭✭Bank of Ireland: Lorna


    Hi Adam,

    Welcome to Boards!

    The amount would be based on the current value.

    You can look at more information on this here.

    Best of luck on the renovations!

    Thanks,

    Lorna


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