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mortage for putting two flats back to one house

mansicklebobblebod
mansicklebobblebod Posts: 21 Forumite
Part of the Furniture Combo Breaker
in Mortgages & endowments
Hi there, I am a first time buyer.I have 12% deposit. house price is £90K.a four bed Victorian terrace that is currently converted to two flats and registered as such.The structure appears untouched with the internals to make two flats simply stud walls & internal doors.The property still only has one front door & one rear door.I would like to put it back to one dwelling upon purchase... What problems might I encounter,if any from a mortgage application - would they require one mortgage or two? are lenders more skeptical to lend in such cases?

I have saved a long time for this so want to get it right! any help appreciated! regards - Rob

Comments

  • kingstreet
    kingstreet Posts: 39,353 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Realistically, you'll need to buy one side, possibly with a mortgage, then buy the other half, preferably without.

    There are so many issues with this, I don't know where to start...

    1. Will the valuer think the combined sum of the parts is greater than the separate properties...?
    I am a mortgage broker. You 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. Please do not send PMs asking for one-to-one-advice, or representation.
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