Increasing Mortgage to buy a party out

[ziggy328]

What's the best way to do this in terms of having the conversation with the lender? Home improvements angle, tell the truth or something else?

currently owe about £160K and need to increase by another £145K - same bank has previousley offered me quite a lot more in excess of the sum of the two.

I just want to make it as quick and simple as it can be.

TIA

[Sarnie]

Tell them the truth.

[Cass63]

If you can prove you can pay the repayments why would you lie, I bought my ex out of my house a few years ago, they took the equity into account and I got the mortgage, best move I ever made.

[Sarnie]

Cass63 said:

If you can prove you can pay the repayments why would you lie, I bought my ex out of my house a few years ago, they took the equity into account and I got the mortgage, best move I ever made.

Correct, borrowing to pay off an ex partner is a legitimate reason for capital raising and as long as you can evidence affordability (which would be assessed in the same way as home improvements etc etc) then there would be no issues........you would actually cause yourself more issue by declaring £145k for home improvements as they would likely ask for planning permission, builders quotes, architects drawings etc etc.......