Hope someone can clarify for me.
We are buying a bungalow outright with no requirement for a mortgage. We are then looking to fund adding a floor/extension via a mortgage. As we will have no mortgage is it possible to get a re-mortgage for this?
I’m feeling we may have made a mistake in not applying for the mortgage for the sale and keeping our own money as I can’t determine now whether we’ll be able to get a totally new mortgage for this work.
Our LTV will only be about 35%.