Remortgage or leave it alone?

Question

basically weve sold up a porperty and have roughly about 70k, weve gained but are now also retried so was wondering wats the best option... we want to extend our house... should we a) just use the money and build it... or b) pay off the mortgage and then remortgage and then extend.

Answer 1

not enough info

what is the rate on your current loan, and the balance

what's the cost of addition?

What's the rate you can get on a first mortgage now, a HELOC?

What's the rate of return you can get by investing your funds?

whatever you do, don't put ALL the money into house.