I have a house morgage 170k and now we are looking to build our own house. We have enough money to buy site and build half house or so but would need another 80-100k to finish it. Will the bank give me this on the basis that i will rent other house out. Cant seem to sell the house now. any advice would be great thanks
This will all depend on your income, if it is strong enough to cover the repayments on the new mortgage amount and any shortfall there may be on the investment mortgage then a bank will give you a mortgage on the new build.