Which Bank for Mortgage to buy and extend?

tvman

Registered User
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174
Hi

I hope to buy a house in around 6 months time. I'm looking at 3/4 bed semi detached houses in Cork. We will have c. 10% of the purchase price in cash.

Based on talking to several banks getting a mortgage shouldn't be a problem.

My query is: how do different banks treat a proposal to buy and renovate/extend immediately.

AIB: Will lend 92% of purchase price plus 92% of 75% (i.e. 69%) of the cost of extension/renovation.

Does anyone have experience with other banks' guidelines for this situation?
 
Off the top of my head I know that KBC will do 90% of purchase price and 90% of renovation cost provided that the eventual mortgage is no more than 90% of the eventual value.

AIB / Haven do as you say but they usually insist that you use up all your own money before they will advance anything towards the renovations.
 
I followed up with KBC and as LD says they will finance up to 90% of purchase and renovation. I'll be checking with (most of) the other banks so I'll update here once I know more.
 
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