This doesn't quite answer what you've asked, but we inquired about a future extension while getting our mortgage and were told that a big focus for the bank would be ensuring the work planned would add value to the house on the open market, that they would need someone to sign off on the work at each stage before releasing the money in trenches and would have an assessor appraise it at the end.
\Do you have a good idea of how much value it will add to the house?
The best option initially is to go to your current bank and talk it through with them. Once you understand their position, at least you can work on the alternatives and have something to compare it to.
Personally, if I was you take a dual approach on this
1. Go to your current bank, tell them what you would like to do and see what they say and whether they would release the extra funds to you and how they would do it
2. Approach a different bank with the same questions and see what they say. Up to you who you would pick, but I would suggest AIB or Ulster Bank initially. Bank of Ireland are also reasonable in scenarios like this (or at least when I approached them in the past), but you need to fix with them.
I think you also need to give careful consideration as to doing a major upgrade on the house with a baby present. Its likely you will need to move out etc, and what would this mean for the family unit ?
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