# Forum Contacts & Links Estimating & Quoting  Finance

## redflag

Not a quote thread but here goes. 
Ubank won't give me an equity loan on anything thats structural or requires council approval. 
Want to do a renovation to improve my IP. 
Any ideas.  
Cheers. 
RF

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## johnc

Are you doing an owner builder reno that does require permits? 
Some banks will advance loans on the basis of total equity, however you have to cover the hurdle of how much the bank thinks you can spare for repayments. A loan based on improvements is something the bank has no security over unless they hold the first mortgage and second mortgages will usually be at a higher interest rate or just to much risk for the bank. May well be you should engage a builder, could be the only option

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## redflag

They didn't mention owner builder. I just assumed they knew I would use a registered builder.
They hold the mortgage.
I think it might be a Ubank thing. 
Ta.

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