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Adam Hunt
Adam Hunt, Accountant
Category: Finance
Satisfied Customers: 437
Experience:  FCCA, FFA, FFTA
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I’ve just got approved for a 5 year fixed mortgage. However

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Hi, I’ve just got approved for a 5 year fixed mortgage. However in a year or two I’d like to build an extension. How can I finance this?
Assistant: Have you talked to a financial professional about this?
Customer: no
Assistant: Anything else you want the Accountant to know before I connect you?
Customer: no

Hi I am one of the experts. Since you have property now and you will pay a mortgage every month for the next 2 years so then you can apply for a loan from the bank and also security can be your property.

Has this answered your question?

Customer: replied 6 months ago.
could you get a loan for say c10 years so the repayments would be low? obviously i won’t have an option to remortgage

You mean loan repayable in 10 years? Generally, you get one for on up to 5 yearly terms so it all depends on your circumstances and loan provider in question.

Customer: replied 6 months ago.
as the loan i’d be looking for would be c£100k
Customer: replied 6 months ago.
as I won’t be able to remortgage and add this on until 5 years due to fixed

About remortgage just check if your current introductory mortgage rate offer has ended yet or not. Generally, it ends in the first 2 to 5 years. After that, you can get a remortgage done also.

Adam Hunt and other Finance Specialists are ready to help you

You should arrange a meeting with a loan provider or bank in advance and meet them to discuss your personal situation and the possibilities of getting a loan arranged after 2 years. This gives you much more control over your expectations.

Hope this answer has helped?