Buying part of neighbouring property?

karlaj

Hello. Our neighbours have offered us the chance to purchase part of their property (2 upstairs and 2 downstairs rooms + stairs) and land, both of which originally did belong to our property, but were sold many years before we purchased our house. I have many questions; (1). would our mortgage company lend us the money based on a valuation of the new "extended" property? (2). other than land registry, deeds and changing the utilities over to our property, is there anything else we need to consider (3). assume that our neighbours would be responsible for partitioning off their property and we would cover the knocking through from our property (4). who would be expected to cover legal costs? Help!!

Gorgeous_George

It may be cheaper to move to a larger property. However, if you want to stay in your current home and you want to extend, it is not too dissimilar to building an extension and your lender will probably base their lending decision on this basis.

Who pays is irrelevant really. If you pay then you should get the extra space more cheaply than if your neighbours pay and vice versa.

I think you have most angles covered but don't forget insurance.

GG

DVardysShadow

1 Possibly
2 Usual considerations of a purchase
3 Partitioning subject to negotiation, your responsibility to break through
4 You would pay your own and you are best to negotiate on the basis that they pay their own, If you agree to pay theirs, their solicitor might get greedy

Do take care to separate the utilities carefully. I would insist on an inspection of theirs to ensure that they are capped off correctly. Be careful with electricity - it is not good to have 2 supplies. And make sure that all electrical bonding goes to the right premises.Doing services correctly may cost more than partitioning off and knocking through.

karlaj

Thanks George. We love our house and definitely don`t want to move, its a great opportunity to increase space and value. Do you think the mortgage company will lend on the new value or the current one? (obviously i will be ringing them,but just wanted to get ahead of the game).

neverdespairgirl

You will probably need planning permission, and definitely buildings regs will apply.

karlaj

Why planning permission? The rooms did at one stage belong to our property, the original partition wall is still there, just seperated by stud walls from our property?

poppysarah

I bet you need building regs. Approach the council and ask.

What sort of fire risk is it not having a proper wall between you and a neighbour?

poppysarah

the_realist wrote: »

why would you need building regs? You dont need building regs to move internal walls like this.

Do you not?

However, Building Control is concerned with the Building Regulations. This controls the design and construction standards of buildings.
You will generally need to submit a Building Regulation Application before you start any building work. The following work is included :- .http://www.rbwm.gov.uk/web/bc_building_regs_approval.htm

• Structural alterations e.g. widening existing openings, forming new openings, removing walls or chimneys.
• Non structural alterations that affect fire safety or access for people with disabilities.

lincroft1710

Also remember your Council Tax band will probably increase (and hopefully neighbour's will decrease).

FilthyLuka

Moving internal walls can need building regulations, particularly if affecting the means of escape or if its structural, in this case it also seems that it would be the party wall providing fire separation between the houses

I would visit the Building Regulations department with some floor plan sketches and a few photos.

I think that it would be subject to building regulations, particularly

1. Sound separation between 2 different houses
2. Fire separation between 2 different houses (including in the roof space)
3. Means of escape in event of a fire (how would you get into the reclaimed rooms? do you need to put up a new corridor? or just form a new doorway opening?)
4. Electrical and heating system alterations

poppysarah

lincroft1710 wrote: »

Also remember your Council Tax band will probably increase (and hopefully neighbour's will decrease).

Only when one sold or lease extended?