Extension on Family Home

W

William78

Registered User
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2
Hi All,

Through various circumstances, myself and my family(4 kids) have found ourselves living long-term with my parents. A mortgage does not seem to be an option for us, but we have good savings (around 100k). We are thinking about building an extension to the house. Does anyone know if we could get a loan to part fund this extension given that we do not own the house ? Does anyone have any advice about how to approach this?

Thanks,

William
 
A mortgage is out of the question unless you own the property. Yes you can def ask for a standard loan but you might struggle above €20k though I know some larger credit unions might consider €50k. Someone else might know of other options.
 
Do you have any siblings ? They might have issues with you doing so or if you did build an extension it might cause issues down the line.
 
Even if you could qualify for a mortgage on that property most lenders won't sanction a mortgage if your parents have a right of residency
 
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