Many homeowners across Manchester are choosing to improve their current home rather than move somewhere new. Whether it’s adding a kitchen extension, converting the loft, or building a home office, making space for your lifestyle can often be more practical than starting again.
If you’re planning a large home improvement project and need the funds to make it happen, remortgaging could be one of the options available to you. Our mortgage advisors in Manchester are here to help you explore whether it’s the right route based on your current mortgage, future plans, and the cost of the work.
Why Homeowners in Manchester Consider Remortgaging for an Extension
With house prices rising and the cost of moving increasing, more people are looking at how they can improve the space they already have. For growing families, an extension can be a more cost-effective way to add bedrooms or open up a larger kitchen-diner. For others, it’s about futureproofing the home or making it more functional.
If your home has increased in value since you bought it, or you’ve built up equity by paying down your mortgage, remortgaging could allow you to release equity to help fund your extension. This can be an alternative to taking out a personal loan or using savings, and in many cases, the monthly repayments are spread across the mortgage term, which can be more manageable.
How does remortgaging work for a home extension?
When you remortgage for a home extension, you’re essentially switching to a new mortgage deal with a higher loan amount. The difference between your current mortgage balance and the new loan is released to you as a lump sum, which you can use to fund your building work.
Lenders will assess your property’s value, your income, outgoings, and your ability to repay the new mortgage amount. They may also ask about the scope of the work, particularly if the project is large-scale or affects the structure of the property.
We’ll compare remortgage deals from a range of lenders and use their affordability calculators to check what’s available based on your current situation. Whether you’re employed, self-employed, or over 50, we’ll look at suitable options and explain what your repayments could look like once the remortgage completes.
Things to Consider Before Remortgaging
Before committing to a remortgage, it’s important to think about a few key points. You’ll need to check whether you’re still tied into your current mortgage deal, as there may be early repayment charges for leaving it early. It’s also worth considering whether the monthly payments on the new mortgage remain affordable for you now and in the future.
Lenders may want to see that the extension adds value to the property or improves its usability. In some cases, especially with larger builds or structural changes, they might request planning permission or a builder’s estimate before proceeding.
We’ll help you factor in any potential costs, including legal fees, valuation charges, and arrangement fees, so you can make an informed decision about whether a remortgage is the right fit for your extension plans.
How Our Mortgage Advisors in Manchester Can Help
Every customer’s plans are different, which is why we take the time to understand exactly what you’re trying to achieve. Whether you’re building above the garage, extending the kitchen, or adding an extra floor, our mortgage advisors in Manchester will look at your current deal, assess your equity, and explore remortgage options that could give you the funds you need.
We search a wide range of remortgage products across the market and recommend the most suitable deal based on your circumstances. We’ll also handle the application process from start to finish and keep you updated every step of the way.
If you’re thinking about remortgaging for a home extension, get in touch with our team. We’re here to help you improve, not just move.
Date Last Edited: October 27, 2025
