Hi - looking for some advice on applying for mortgage and upgrade at the same time. I currently have drawings to extend a house and the QS is costing the extension and upgrade to the current house.
I then need to submit these and the Independent survey to the bank.
As an example - the bank is willing to give us 412k to buy and upgrade. We recon the cost and upgrade will be 465K. (No planning required by the way).
So what figures will the bank need to see on paper w.r.t the QS figures and survey figures to give us the full 412?
Cost of house is 390k. We have the deposit in savings plus enough to cover QS and architecture and stamp duty costs). We have a mortgage letter of approval under the old rules until mid May, s.b.t the independent survey and costings for the extension and upgrade (rewire, replum, insulate).
Thanks in advance. And sorry if my question is not clear enough.
I then need to submit these and the Independent survey to the bank.
As an example - the bank is willing to give us 412k to buy and upgrade. We recon the cost and upgrade will be 465K. (No planning required by the way).
So what figures will the bank need to see on paper w.r.t the QS figures and survey figures to give us the full 412?
Cost of house is 390k. We have the deposit in savings plus enough to cover QS and architecture and stamp duty costs). We have a mortgage letter of approval under the old rules until mid May, s.b.t the independent survey and costings for the extension and upgrade (rewire, replum, insulate).
Thanks in advance. And sorry if my question is not clear enough.