Therefore, the borrower can do any repairs, but not redevelopment. This is what you will most likely hear in the credit institution.
However, there is a small chance to fight for your right.
Study the loan agreement. Perhaps there is no prohibition on canada business email list making major changes to the home. If there is no such clause, study what the client has the right to do. Specific actions may be listed there: permission for cosmetic repairs, replacement of doorways, etc.
Agree with the bank and get written permission. Before giving consent or refusal, the lender will carefully study your plans: it is important that the market value of the property does not decrease.
The chances of getting a refusal are high if you want to make specific changes. If you or the bank later want to sell the property, it will be much more difficult to find a buyer who will appreciate the unusual repairs.
Prepare a redevelopment plan and a technical report. We have already written about how to do this above. You may need to invite an independent expert to assess the safety of the upcoming changes.
Send the letter and documents to the bank. After receiving the request, the employees will start reviewing your official request and make a final decision.
Let's say the bank has allowed the redevelopment, what next? Now the bank's consent and the entire package of documents must be sent to the housing inspectorate or another authorized body. You should wait for the final answer from the authorities and only then hire workers.
Obviously, the bank's consent in such a matter is not enough.