1 house converted to two flats - convert back to one house - buy with one one mort ?

cobyjones

Hi
I am looking at particulars for a home that was at some stage split into two seperate living quarters. i.e: downstairs 1A and seperate access to upstairs.. flat 1B. The particulars state the price is for both 1A and 1B (freehold) with permission to convert back to family home (my intention).

When remortgaging, will the lender deem this as me buying two properties and subsequently require 2 mortgages, or as been sold as one lot would it be one mortgage.

Any ideas

Thankyou for any responces to follow

sarahevie

My best friend has very recently had this situation and wanted to buy it as two flats to avoid stamp duty. Purchase price was £350K and they intended buying one at £150000, flat two at £170,000.

Their mortgage company insisted on buying it as one unit, on one mortgage. They also insisted on putting a door in to make it one unit. In reality the vendors didn't understand this (elderly couple in their 80s) so it took a lot of legal wrangling to get the door in.

A local builder did a bodge job in a weekend as the door probably won't stay there it was just to get it passed for the mortgage. Having seen their house I would say what a good way of getting, what fairly easily will transfer into an absolutely stunning house, about £150K below an equivalent in the area that wasn't two flats.

cobyjones

Thanks for reply. So was the joining door put in place before the contracts exchanged and at your friends expense?

Thanks

GMS

sarahevie wrote: »

My best friend has very recently had this situation and wanted to buy it as two flats to avoid stamp duty. Purchase price was £350K and they intended buying one at £150000, flat two at £170,000.

Their mortgage company insisted on buying it as one unit, on one mortgage. They also insisted on putting a door in to make it one unit. In reality the vendors didn't understand this (elderly couple in their 80s) so it took a lot of legal wrangling to get the door in.

A local builder did a bodge job in a weekend as the door probably won't stay there it was just to get it passed for the mortgage. Having seen their house I would say what a good way of getting, what fairly easily will transfer into an absolutely stunning house, about £150K below an equivalent in the area that wasn't two flats.

A bodge job to get passed for the mortgage. Alternatively known as defrauding the mortgage company.