Hi Guys,
A few years ago I bought a small cottage that was on an acre of land and I still have more than half the mortgage to pay back.
Recently I got planning permission to build a new house ( 1900 sqft house) on the same land as the cottage, converting the cottage into a garage/gym.
I'm wondering has anyone done this before and could they share their insights? Will I need to ask the bank for another separate mortgage for this new house? or a top-up on my current mortgage?
A few years ago I bought a small cottage that was on an acre of land and I still have more than half the mortgage to pay back.
Recently I got planning permission to build a new house ( 1900 sqft house) on the same land as the cottage, converting the cottage into a garage/gym.
I'm wondering has anyone done this before and could they share their insights? Will I need to ask the bank for another separate mortgage for this new house? or a top-up on my current mortgage?