I have a translation issue and I'm not sure where else to turn for help. In our country, there is a type of refinancing of a mortgage loan, which works thusly:
Someone decides to renovate their property/build a house using their own money, but after time during the reconstruction, they realise they do not have enough money to complete it. That's when they opt to get a mortgage instead of a regular loan counting in all the expenses exerted, sometimes even up to 3 years back from the start of the renovation/building. Is there an English term for this type of refinancing?
Many thanks in advance for your answer!