Remortgage Your Home For Your Dream Conservatory


by Timothy Frodsham

One of the best ways that you can make extra space in your house it to build a conservatory. Giving your home an extra room could allow you to have a space for dining so that you can entertain guests if you don't already have one. Another benefit is that you can add thousands onto the price of your property by doing so.

Adding a conservatory to your home is generally less costly than converting your attic or building a brick extension, however it can still cost a fair bit of money so it's no wonder that many people opt to remortgage their home and borrow additional funds in order to fund it. You could benefit from cheaper mortgage rates too!

One of the best things about adding a conservatory is the value that it adds to your property. Two years ago, a leading UK newspaper found that a decent conservatory on your home can add around 5% to the value of your home, while another newspaper can add up to 7%, so you can see the benefits.

Before you start the ball rolling on your new conservatory you first need to check if planning permission needs to be granted. If you're unsure, the best bet is to figure out the size that you have in mind, and ask your local council. If you don't know the size, then ask what the biggest size is that you can have without planning permission.

The size will also be important depending on the intended use for the new room. If it's just going to have sofas inside it, it may not need to be quite as big as if you're planning to have a dining table and eight chairs. But beware that if it takes up a lot of your garden space, you could end up decreasing the value of your home so bear this in mind.

Another important thing to consider is which direction the new room will be facing. If it's south facing you might want to consider additional ventilation for warmer summer months. If it's facing north you might need additional heating sources.

The expense involved with having a conservatory put up at your home will really depend on who you use, as the prices are very different from company to company so you need to compare a few quotes to get a good idea of the kind of costs you are looking at and what you get in return.

By remortgaging your home, you can raise the funding required to build a conservatory. By switching to a new mortgage, you may also be able to benefit from great low cost mortgage deals, especially now as fixed rates are at some of the lowest levels they have ever been.

These days you need to generally be able to deposit at least 20%, however as a homeowner you're likely to already have some money locked away in the property as equity. If you do have less however, you should be prepared to pay a little more on interest rates than those who can offer a larger deposit.

So if you're looking to build a conservatory to enjoy in your home, make sure that you consider the option of remortgaging so that you can fall back in love with your house.

About the Author

Timothy Frodsham writes for http://JustCommercialMortgages.com the UK's No.1 site for the latest commercial mortgage rates and commercial property finance news.

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