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Requesting extra money following approval of mortgage

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  • 06-08-2013 11:25pm
    #1
    springwater
    Closed Accounts Posts: 6 ✭


    Been approved for mortgage and waiting to draw down first payment. However have decided spend extra money on making house passive/ higher spec kitchen....re asking bank for 20,000more than requested ....would I have to go through the whole process of approval again?? It was such a drawn out affair with constant requests for more info and delays between requests.....would be grateful for info re best option.....there isn't any issue re ability to pay repayments


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    #2
    jethrothe2nd
    Registered Users Posts: 579 ✭✭✭jethrothe2nd


    Taking out a larger mortgage purely to facilitate home improvements is going to cost you a whole lot of money in additional interest.

    It would make sense in my view to keep the mortgage as low as possible, and save the money for home improvements.


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