Remortgaging an existing property - if you have equity in your own home, or another house you own - may be possible to get the cash you need for your development property. This could simply be a matter of ringing your existing lender and getting a revaluation, or if they prove unhelpful, you could remortgage with another company.

Either way, check with your lender that you won't incur any penalties by doing this - you may have locked yourself into an agreement for a certain period when you first took out your mortgage.

Refinancing is likely to mean an arrangement fee and/or a valuation fee so don't forget to check with your lender and include that when you're number crunching.

Also, a second charge on your home like this isn't covered by the FSA's new rules regarding mortgages. It means that unscrupulous lenders could potentially recommend an unsuitable and unaffordable mortgage, although thankfully this is rare. Just make sure you read the small print and shop around before signing.