Money from deposit or loan for renovation

A question about : Money from deposit or loan for renovation

Hi. Completely newby to mortgages and home buying, though my girlfriend and I are on the road to saving for a deposit and would like some heads up if at all possible.

Our predicament is there is a house in a nice area which will be going for cheap though will require a lot of decorating (hasn't been lived in for 20 years, and decorated for 50 years!). The house isn't in need of any structural work just the interior taking back, replastering, new bathroom, kitchen etc.

Our question is that we will of saved Ј30k for our deposit with the house potentially costing Ј100k (so Ј70k mortgage), would it be best to take (only as an example) Ј10k out of our deposit for home improvements and get an Ј80k mortgage? Or, use the full Ј30k as the deposit and arrange a personal loan for money for the necessary improvements?

Opinions please. Nearer the time we will seek professional advice, though I thought I could hopefully get a good understanding from here first.

Thanks.

Best answers:

• A question that is impossible to answer here.
  Your options we be dictated by the result of the lenders survey on the property. If you are purchasing a property in a poor state there may be restrictions added to the lending.