We bought a house 3 years ago. It is now worth approximately 30000 more than what we paid for it. We took out a 28 year mortgage and our LTV based on what we paid for it is 83%. I had initially intended on renovations to make it into my dream home, but now am toying with the idea of selling it and building on a site that we own. How would this work with regard to our AIB mortgage? Would it be a matter of paying the mortgage from the sale of the house and then taking out a new mortgage for the build?