Readers’ questions: ‘Should we top up our mortgage to pay for our home renovation?’

Plus: what can you do when an invoice is higher than was initially quoted?

Check your options when getting a top-up loan. Photo: Getty

Gráinne Griffin

We want to renovate our house and we’ve had the job priced at €30,000. Someone suggested that we pay for it with a mortgage top-up.

We’re afraid to touch the mortgage because we have €320,000 outstanding, with 30 years left on it, but the house is valued at €600,000 now, which is surely beneficial. Should we go for the top-up?