Minimum amount banks will re-mortgage for.

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biggerry

Guest
Hi there,

My sister has just under 2 years to run on her mortgage (about €4K remaining) with EBS.

She want's to install a new kitchen and is estimating a cost of €10K for this. People were telling her that instead of going to the CU for the loan that she should top up her mortgage or take out a new mortgage with a different bank and increase the term to 7 years. As I'm the "finance guru" in the family, she asked me what I thought. My initial thoughts are that the money she's talking about is small and that the EBS won't consider this.

Does anybody know if the EBS would give her the €10K and increase the term to 7 years? If they won't, would any other bank give a new mortgage for €14K over a 7 year term?
 
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