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Due to a few reasons, my mortgage when I bought was higher than I needed. Part of the money was used to buy a car and more for improvements. I don't think anyone asked what the money was for as my LTV was low and affordability was fine.
Not sure I'd actually tell the mortgage provided what it is for.
aggi
Thanks, that's helpful as ever.
So you can say to the mortgage provider, assuming option 1, "we want to borrow x from you, but 0.75x is actually for improvement works rather than the purchase" and they'll send you a cheque?