The most efficient way of borrowing is to re-mortgage if you own your own home or another property. Re-mortgaging is typically less expensive than bridging finance, you should have enough earnings to show it is possible to pay for extra repayments.
Simply how much you can easily borrow is determined by:
- Your major home’s equity (its current value minus what’s owed on the existing mortgage)
- Your credit history
- How much the proposed improvement might enhance the property’s value.