Best way to borrow 10k

I am currently in the process of purchasing a house. the house needs about 10k work, I am paying cash for the house and have the 10k cash to fix up the house. I also need to do about 10k of work in the house I am living in now, so that it can be rented, I have a mortgage of about 10k left on this house with AIB.

I am wondering, am I better off to get a home improvement loan to fix up the next house and use the 10k I have to fix up my current house for renting, or would it be possible to increase my mortgage by 10k and get the same low rate that I have with my mortgage?

I haven't borrowed money in a long time and there are so many options, I am having difficulty navigating them to find the best value. I could pay back in 3/4 years easily. The banks do not seem extremely helpful, it seems to me that they are encouraging me to take the highest rate loan possible-I am not that stupid, really wish they tried to actually run a business rather than spending half their time figuring out how to fleece people.....

The cheapest way to borrow is to remortgage. But there are legal costs associated with this, so I am not sure that it's worth doing for €10k.

If you are on a cheap tracker, the bank won't lend you extra at that rate anyway.

If you are on a Standard Variable Rate, the bank may reschedule your €10k mortgage, to reduce your payments.

If you are borrowing, you may be better off borrowing to fix up the new house as you may be able to get some tax relief on the interest paid on the loan.

Overall, the simplest might be to just take out an overdraft and pay it off as quickly as possible.

Brendan

Thanks for the reply Brendan, it turns out I'll need 15k, would an over draft be better than a personal loan? sorry if my questions regarding loans seem basic, I've not had to borrow any money in 17 years........