ptsb won't give me cash back

OP should just borrow the amount of the repairs plus the legal costs.

Alternatively he can save and built with no loan.

Or don't do any renovations.
 
Brendan ..it was a 20yr mortgage which i was overpaying 15 yrs ago before i had commitments.
Rate at the time i started the increased payments was approx 3% so still made sense to over pay .
People forget that tracker rates were much higher way back when ..
 
By the way my threads name was changed and i dont agree with it.
Some might say semantics but i argue its not for a home improvement loan ,its for a mortgage just like any other one except i think its up to me what i do with the loan
 
Hegocork said:
By the way my threads name was changed and i dont agree with it.
Some might say semantics but i argue its not for a home improvement loan ,its for a mortgage just like any other one except i think its up to me what i do with the loan
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I hope I never again see the day when banks give out mortgages against equity in peoples homes and not care what it is spent on,
 
But it's not really up to you what you do with the funds, the banks always have policies regarding loans for certain things and stipulate what the purpose of the loan is to meet those criteria. So if they say equity release doesn't quality then that's their choice, you can choose to do business with them or not. Equally you wouldn't be borrowing under a special car loan product and be going on holidays with the money.

I remember many many moons ago, over 40 at this stage, I wanted a personal loan to buy a mobile home to live in temporarily. My bank did not lend for mobile homes they told me, I couldn't understand it at the time as felt surely the question was whether or not I was a good risk for a loan regardless of what I spent it on. Thankfully at the time I met a very good assistant manager who was a bit creative with my application and knew I was a good risk and I got the money and paid it back as agreed.
 
RETIRED2017 said:
I hope I never again see the day when banks give out mortgages against equity in peoples homes and not care what it is spent on,
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But thats exactly whats happening .i wanted a mortgage and ptsb say no i have to take a home equity release .i dont have to prove or provide anything to show what im doing with the money
 
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