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Buying next door... Advice?
Comments
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I wasnt aware both properties would have to become 1 dwelling beforehand - every day is a school day.
To the OP, your probably best ignoring my posts on here. I thought it would be a bit "easier" than it probably will end up being.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Hi ACG,
Yes its an issue because effectively you'd have 2 completely sep dwellings under 1 title number, regardles of this, it would cause major issues for the mge lender, whom has title and charge registration for 1 property (which has been valuer asssessed), whereby the actual now single (merged) title number (which would be changed in any event) would effectively consist of 2 separate dwellings, 2 front doors, 2 separate boundries, entrances etc, etc... just under 1 title .... which would obv seriuosly affect resale/forced sale pre conversion completion (should this be possible in the first plac).
This is such an unusual enq, you may never come across one at all in your mge career, but if you do you now have an idea of the type of issues that will arise. (and run a mile !!)
Hope this helps
Holly xx0 -
I'll be on here posting a thread waiting for you to pop up :P
To be honest if it hit my desk i would do the research, (as cheesy as this sounds) i quite like learning new things which is partly why i come on here.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Do you know pal, its enqs coming up such as this, and you thinking blimey "I haven't a clue", that you utilise your broker mge desks, BDMs and pick UWs brains .... if they decline ask them to explain why its not a suitable enquiry ... and thats how you gradually build your knowledge, and how we all earned our wings over the yrs ...
Always here for you to bounce off amigo .... H xxxxx0 -
If you should happen to be an unmarried couple, could you rearrange your finances so that one of you owns one house, one the other?Free the dunston one next time too.0
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