Maybe you’ve decided that it’s time to show your home a bit of TLC. Actually, make that a lot of TLC – because a lick of paint just won’t do the trick anymore. Or maybe you’d like to help a dependant get on the property ladder.
Here’s the nuts and bolts of how you can use the equity in your home to pay for these home improvements or other large expenses. Our Mortgage Masters are here to answer any questions and explain how it all works. Ask them to call you back and start the conversation today.
And if you’re looking for a little more information, read our brochure.
How much can I borrow and for how long?
What can I use the equity in my home for?
As well as home improvements, the equity in your home can be used for:
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.
Tips when planning home improvements
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.
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.
Ask your local Mortgage Master to call you back here and start the conversation today.
Fixed or Variable Mortgage Rates?
You can apply for the EBS Green 4 Year Fixed Rate Mortgage if you are topping up an existing mortgage. The EBS Green 4 Year Fixed Rate Mortgage features include:
For more information on the EBS Green 4 Year Fixed Rate Mortgage click here.