I want to use the equity in my home to pay for my plans

• We want to give you room to plan a lovely renovation or support your other needs. But there are limits to how much you can borrow using an additional mortgage on your home.
• You can borrow a minimum of €10,000 against your home. The maximum depends on the current value of your home, the balance of your current EBS mortgage, what you can afford to repay, what you choose to do with the money and more.
• Choose a term from 5 years, up to 35 years (maximum 68 years of age).
• You’ll need to give us information about your income and any other financial commitments you have, just like you did when you applied for your current EBS mortgage. This information helps us work out how much you could borrow.

As well as home improvements, the equity in your home can be used for:

• Inheritance tax on a property
• Separation agreement payment
• Support for family buying a home of their own

It might sound complicated but our Mortgage Masters have done this hundreds of times and are here to help you through the journey.

Ask them to call you back here, and start the conversation today.

Budget, Budget, Budget

Know what you have to spend and be realistic with your budget. Think about including a contingency of 10% of the total cost as we all know surprises can arise once the work gets underway.

Qualifications are key

There are a lot of tricky building regulations so getting certified professionals on board to design, build and supervise your work ensures these are met. When picking an architect or builder, ask friends, family and colleagues for recommendations and check out their work.

Check out government grants

Everyone loves to save a little money so look into grants to see if they’re are available for the type of work you’re planning. This could help save you money on installation costs and reduce energy bills over time. The Sustainable Energy Association of Ireland (SEAI) is a good source of information.

Don’t forget planning permission

Check with your architect to see if you’ll need planning permission. If you do, you’ll need both the full and final planning approval for the ‘grant of permission’ before starting the work and getting a formal loan offer from us. We will need to see the letter you received that lists any conditions to the planning.

The paperwork

If we give you the loan in stages we will ask you for certain documents for the build so we can release the next payment. Your architect, engineer or building surveyor will help you complete these documents. They are familiar with this process and your EBS Mortgage Master will always be on hand to help.

Other things

• You may need a solicitor to witness some documents when applying for a top-up mortgage.
• If you choose a top-up mortgage, your life assurance may be affected. If this is the case, you should review it to make sure it covers the extra amount you borrow. Similarly your home insurance may be affected if you're extending or altering the structure of your home. You should contact your insurers to check if any changes will affect your cover.
• Because the top-up mortgage loan is borrowed against the equity of your home, you'll need to have your home valued by an EBS approved valuer at a cost to you of €150. Your EBS Mortgage Master can tell you when you need to have the valuation done.

Ask your local Mortgage Master to call you back here and start the conversation today.

• You know about fixed or variable rates already, which you pay on your mortgage. But there could be many things that have changed since you last made the decision. Our Mortgage Masters will be happy to guide you through the best option for you.
• You can see a list of our current rates here
• If you take out a Mortgage with a Fixed Rate of at least one year and decide to repay all or part of it early; if you change to a Variable Interest Rate; or; if you change to another Fixed Interest Rate we may charge you an early breakage fee. You can find information about how we calculate and when we charge this early breakage charge by clicking on ‘Home Mortgages General and Regulatory Information’ below and then selecting ‘Our mortgage interest rate options’.