Homeowners have a raft of options to finance an extension project. Adding the borrowing to existing mortgage debt or taking out a loan are obvious choices, but there are plenty of alternatives, too.
Sarah Coles, personal finance expert at Hargreaves Lansdown, says: “There’s no single approach that’s right for everyone, so it’s worth understanding the benefits and drawbacks of each approach, so you can find your right one.”
If you’re looking to add space to your home, here’s how you could finance an extension this year…
USE SAVINGS
Using savings to pay for your house extension can make sense. It’s straightforward with no third-party involvement or interest to pay.
Kevin Mountford, savings expert at Raisin UK, says: “One of the many benefits of using cash savings
