Equity home ImprovementsImprovements in Equity Home
What's more, you can also extend the size of your home.
Keeping that in mind, it can also add dramatic value to your home because you basically add an additional space to your home. Not only do we make Home Extensions Essex.
Release of equity capital for construction measures and renovation work
Many of our clients elect a lifelong home mortage to fund home and horticultural improvements. As with a conventional hypothec, it is hedged against your home, but if you opt for an interest rate increase, there are no months' returns. Rather, the credit is paid back when the real estate is purchased.
So if you feel that equity approval could help give your home a much needed TLC, please do not hesitate to get in touch with us for more information. Releasing shares reduces the value of your realty. You should always think twice before taking out a credit against your possession.
Use of the own funds released for DIY work
Older home owners often turn to the equity approval to support do-it-yourselfers, whether they are expanding their home, upgrading it for home maintenance or just because they need repair. The share approval allows house owners over the age of 55 to activate part of their real estate assets without having to reduce the size.
You must also verify whether the do-it-yourselfers you are considering need a construction permit or a permit under construction law. When you release capital to finance a home expansion, it often will depend on what magnitude your expansion will be, whether you need a construction permit or not. You should not need a permit, for example, as long as no part of the expansion will be higher than the highest part of the top of the flat, or as long as it does not stretch beyond a street face when forming the main or side view of the initial home.
You should not need a building permit if your annex will only be one floor high, provided it does not extend more than three meters beyond the back panel of the initial home if your plot is annexed to another, or four meters if your home is separated. Nor do you need a building permit if your annex has a ceiling of four meters and its width is no more than half the width of the initial cottage.
That means that the construction work must fulfil certain specific technological and security related demands. For smaller construction works, such as most repair and service works, or if you need an equivalent replacement of bathrooms, lavatories, washbasins and washbasins, you usually do not need a construction-accreditation. In case of doubts as to whether your expansion complies with the design rules, contact your nearest design office.