Will I qualify for a mortgage top up?

Situation is as follows:

Net monthly income (after deduction of 400 savings and 250 health insurance) - 2850

Full time permenant job

Company car (all costs paid)

Current mortgage repayments - 704 pm (AIB tracker)
Outstanding mortgage bal - 120K (15yrs)
House valuation - 390K (Mar 12)

Have approx 20K in savings and 25K in shares. No loans or cr card bills.
Wife is not working at the moment and have 2 young kids

I'm looking to get 45K for home improvements - over 25 yrs at a variable rate.

What d'ya think!?

You've got my vote Very imressive record and from a bank's perspective you should easily qualify. However, It's now got to a stage where it's impossible to second guess the approval rationale of any Bank other than my own.
It would be a poor decision if they declined you on the basis of repayment capacity.