Equity Release or new mortgage

K

kaner

Guest
We have a house currrently worth approx €450k. 11 Years left of mortgage currently owing €58k. We need to raise €100k to build new extension. Husband has been self-employed for the past 2 years, I am in full-time employment. Should we get a top-up on our current ICS mortgage or get a brand new mortgage for €158K?
 
Top up mortgage -- no fees involved i.e. solicitor or lenders fees.

Remortgage -- you will have to pay a solicitor, valuation and lenders fees but you may be able to get a more competitive rate.
 
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