Other news
Following discussions with Bjorn, and based on the results of his research, we are going to go for solar panels and an electric boiler to provide our hot water needs. The heat pump option would be more expensive and complicated.
Following negotiations with the bank, we are going to use the route below to finance the rest of the house:
a. borrow a lump sum immediately using Maria’s (Peter’s Mum’s) flat as collateral (she agrees!)
b. invest this money into the house, and then get a valuation done. Our current mortgage on our flat will then be switched to the (unfinished) house (this will ensure that we continue to receive the state benefit each month)
c. sell the flat and invest the proceeds in the house
d. get another mortgage on the house to cover any extra costs
Following negotiations with the bank, we are going to use the route below to finance the rest of the house:
a. borrow a lump sum immediately using Maria’s (Peter’s Mum’s) flat as collateral (she agrees!)
b. invest this money into the house, and then get a valuation done. Our current mortgage on our flat will then be switched to the (unfinished) house (this will ensure that we continue to receive the state benefit each month)
c. sell the flat and invest the proceeds in the house
d. get another mortgage on the house to cover any extra costs