Switching and top up?

Discussion in 'The Switchers' Forum' started by Supercaper, Jan 12, 2018.

  1. Supercaper

    Supercaper Registered User

    Have mortgage of 40,000k with BOI. Want to do 50,000k of work on house but understand BOI will only give funds upon completion of the work - and I can't pay upfront! Hoping to switch to Aib and seek an additional 50k upfront to do the renovations - apparently they will allow me draw down the 50k to fund the work in advance. House is worth 320,000k and my income will cover repayments. I would obviously prefer to get the 50k on a mortgage rate rather than personal loan. Has anyone else done this and if so how complex was it?