Hello everybody,
As above really. I live in my grandparrents old home which is in the process of being signed over (from my mum and dad) to my name.
I need to take a mortgage/loan out equal to approximately half the worth of the property to re-roof, structural alterations blah di blah..... My mate, whose going to build his own house, has been to HSBC for advice on his loan to build and mentioned my predicament. They said that I would have to get a loan to build too (and all the associated headaches that go with it:(), but surely with the equity I will have in the house I should just be able to get a lump sum mortgage.
Anybody know whether I'm right or not? Or anybody been in a similar situation?
Ta!