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Mortgage query.

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  • 08-07-2018 9:54pm
    #1
    hed
    Registered Users Posts: 25 ✭


    Hi, I have been approved a mover mortgage in principal for 177,000. A small cottage has come up in the exact area that I would love to live in it is perfect except it is small. The asking price on this is only 155,000.
    My question is could I get a mortgage of 124000 and put 31000 of my equity to it and then use a further 133000 equity to build on an extension to this cottage?
    The seller is keen to get his house sold so i cant see him waiting 4 months for me to get plans drawn up and planning permission.
    This is what BOI advised me to do... Anyone been in the same situation?
    Or do I buy the house outright with the equity and then look for a planning and apply for a loan then when I have it bought???
    The house is habitable at the minute. I'd hate to miss out on this house as I've been looking for somewhere in this exact location for the last 12 months!
    Thanks.
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