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    • Woodlandfolk
    • By Woodlandfolk 26th Jul 16, 2:03 AM
    • 3Posts
    • 0Thanks
    How to sell house with integral annexe
    • #1
    • 26th Jul 16, 2:03 AM
    How to sell house with integral annexe 26th Jul 16 at 2:03 AM
    We're retired and DESPERATE to downsize! Unfortunately, potential buyers' mortgage applications are being rejected because our property incorporates a modest annexe which is built into the side of the house. (We live in a popular coastal area & we've always found the extra accommodation to be an asset when friends & family visit.) A friend who works in holiday letting says that we could gain a huge weekly income by letting our 1 bed annexe during holidaytime but we're now too old for the fuss.
    Structurally, it would be impossible to link the house and annexe although all services and utilities are shared. Apparently, this creates an insurmountable dilemma for mortgage providers.
    Any information/support/advice for buyers & sellers would be greatly appreciated
Page 2
    • Woodlandfolk
    • By Woodlandfolk 27th Jul 16, 11:06 PM
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    Thanks for your interest
    Many thanks for your reply.
    Our reasons for downsizing are increasing age and decreasing agility! There's no possibility of linking the upper and lower parts of the property, nor of separating the services. We pay two council tax bills and removing the kitchen would make no difference as the apartment is accessed independently. As mentioned, we live in a popular seaside resort where our apartment would normally be used as a holiday let but we've lost several sales because mortgage providers have 'issues' with this type of property. It seems unfair that enthusiastic young buyers are prevented from buying a family home with additional income potential. We'd be grateful for ANY mortgage advice for this type of property.
    • davidmcn
    • By davidmcn 27th Jul 16, 11:16 PM
    • 5,405 Posts
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    There's no possibility of linking the upper and lower parts of the property, nor of separating the services.
    Originally posted by Woodlandfolk
    Can you explain why not? I can understand it being time-consuming or expensive but I can't believe it's impossible.
    • Woodlandfolk
    • By Woodlandfolk 14th Mar 17, 12:38 AM
    • 3 Posts
    • 0 Thanks
    Thanks so much for your replies. I haven't responded earlier because we remain in 'Limbo'! Just to clarify, we need to downsize because we're both elderly. Our house was built on sloping ground, with 2 stories on one side & 3 on the other. The integral annexe is accessed at ground level on the lower side; we also enter at ground level on the higher side. All utilities are shared and it would be very difficult (& costly) to separate the services. We've had several disappointed potential buyers who've struggled to get a mortgage because of the annexe. WHY?! All advice welcome.
    • Doozergirl
    • By Doozergirl 14th Mar 17, 8:49 AM
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    Is it on the market? Do you have a floorplan?

    Nothing is structurally impossible. Might be difficult, might even be expensive, but not impossible.
    Everything that is supposed to be in heaven is already here on earth.
    • hazyjo
    • By hazyjo 14th Mar 17, 11:02 AM
    • 9,157 Posts
    • 11,509 Thanks
    Could sell it at auction. Set a reserve. You will incur costs, but if it's in a popular seaside town with letting potential, it's probably your best way of attracting cash buyers who are ready to go...

    2017 wins: Opera tickets; film preview; lipstick; Ideal Home Show tickets + afternoon tea & bottle of Champagne; 2 cases of NKD; notebook; bath rack; books; film Premiere; Broadchurch DVDs; lipbalms; hamper (food/wine/Echo Dot/Jo Malone goodies)
    • eddddy
    • By eddddy 14th Mar 17, 12:26 PM
    • 4,808 Posts
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    So does the annex have a kitchen? If so, have you investigated the option of decommissioning the kitchen? (e.g. removing the cooker and calling it a utility room)

    Has somebody (e.g. a mortgage valuer) advised you that removing the cooker isn't good enough?

    What do the mortgage valuers actually give as the precise reason for refusing a mortgage?
    • MrsNubs
    • By MrsNubs 14th Mar 17, 12:44 PM
    • 46 Posts
    • 89 Thanks
    We bought a house a year ago with an annexe, although they do connect. We had a very limited pool of lenders who would consider a house with two functioning kitchens, but our broker found us one. The biggest problem may be that the two can't be connected. Sounds like your only option is to list the property as 'cash buyers only'
    Also, to answer your question about why - a self-contained annexe is too easy to sub-let which lenders do not want on a residential mortgage. Our mortgage specifically comes with a term forbidding any occupants who aren't family.
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