Mortgage advice needed on a second property which won't be BTL....

spookycat_2

We want to buy the house next door and eventually convert into 1 property (terraced)

Which kind of mortgage does this fall under? It won't be a FTB and we won't rent it out either.
We would rather have 2 mortgages than one, to avoid the nightmare of valuation of separate properties then of them as a conversion, if that makes sense.

What would be the best way to go about this? It's a repo btw

getmore4less

It's just another normal purchase mortgage difference is you have one allready.

Deposit how big is that

Affordability for the total debt whats the salary multiple.

Once you combine the houses then you will have to do something different at some point

Have you checked with the council you can do this

spookycat_2

Is well within our budget.
We have 10% deposit.

No planning needed.

Once house is converted we'll remortgage for one property.

Leon_W

This is a can of worms.

You'll never get a mortgage in my view as lenders do NOT like adjacent properties for the very reason that people can knock through. This devalues their security as it is likely that one house is going to be worth less than two separate ones.

Planning rules are not my thing but again I think it highly unlikely that this is not needed. Building regs ? Fire regs ? Two lots of council tax ? You'll have to notify the council at some point. One thing I do know is that if you want to convert them back to two houses you'll have to meet ALL current building regs which could quite easily bankrupt you.

All doable if you owned both houses outright but a non starter for mortgage purposes IMO.