As an example, a client with a current mortgage* balance of £100,000 and monthly payments of £448 over 25 years wishes to raise £15,000 for home improvements. We could look to increase their mortgage from £100,000 to £115,000, to raise an additional £15,000 for the home improvements. The new monthly mortgage* payment would be £515. This would mean increased monthly mortgage payments of £67 per month to pay for the additional £15,000 borrowed for the home improvements.

Clients who often approach us looking for a home improvement remortgage typically state they are frustrated that, although it makes sense for them to increase their mortgage to pay for home improvements, they are struggling to arrange this because:

• The lenders they have approached have said they are not happy with the home improvements they wish to perform
• They have failed credit scoring with the lenders they have approached
• They have been told there is not enough equity in the property

We appreciate that everyone’s situation is unique and no one case is ever the same. That is why we take a look at the whole background and circumstances and assess each case on its own merits.

If you wish us to take a look at a home improvement remortgage for you, why not get in touch either by completing the enquiry form, or for an immediate response calling on us on our enquiry line.

*mortgage payments calculated over 25 years on a capital and interest basis with an interest rate of 2.49% and APRC of 4.3%