Hi,
This is the story so far; myself and my partner bought a run down house in Dublin last year and the bank agreed to give us the extra money to do necessary repairs and building work. (We're FTB's). We have finished the building work and have drawn down the rest of the money from the bank....but the construction costs went over budget by approximately 10,000.
We wanted to get this amount incorporporated into our mortgatge so what options would we have?
a) Could we remortgage the house and include the extra money? If so, is this likely to incur more legal fees?
b) Is there any other option whereby we can include the 'over-spend' into our current mortgage without incurring extra legal costs? (We've only finished paying the first lot of legal costs).
Thanks
This is the story so far; myself and my partner bought a run down house in Dublin last year and the bank agreed to give us the extra money to do necessary repairs and building work. (We're FTB's). We have finished the building work and have drawn down the rest of the money from the bank....but the construction costs went over budget by approximately 10,000.
We wanted to get this amount incorporporated into our mortgatge so what options would we have?
a) Could we remortgage the house and include the extra money? If so, is this likely to incur more legal fees?
b) Is there any other option whereby we can include the 'over-spend' into our current mortgage without incurring extra legal costs? (We've only finished paying the first lot of legal costs).
Thanks