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Buying a house that needs work

Aureli · 2021-01-17 16:59:05

Looking to sell our house with equity of 240k and buy a bigger fixer upper. We wont need planning permission to build extension and do internal works such as bathrooms. We would possibly need 100k to do the house the way we want. When we move can we request a bigger mortgage than we need and will we get the money straight…

17-01-2021 4:59pm

#1

Aureli

Registered Users, Registered Users 2 Posts: 19 ✭

Join Date: February 2010

Posts: 18

Looking to sell our house with equity of 240k and buy a bigger fixer upper.

We wont need planning permission to build extension and do internal works such as bathrooms.

We would possibly need 100k to do the house the way we want. When we move can we request a bigger mortgage than we need and will we get the money straight away or do we draw down as work is completed?

Are invoices supplied by the builder enough to draw down on mortgage?

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