A good place to start is by determining the cost of your home renovations by obtaining estimates from reliable contractors.
If your renovation project is substantial, such as a new kitchen or bathroom, your contractor may suggest adding an extra 10% to your budget on top of their estimate to account for unexpected work.
The amount you can borrow for home improvements through remortgaging will be based on your property’s current value and the remaining balance on your existing mortgages.
Our team of mortgage advisors in Hull can assist you with these calculations and guide how much you can borrow and what your new mortgage payment will be.