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Can we have two mortgages on a property with two dwellings?
Locko_2
Posts: 1 Newbie
We are considering making a purchase of two properties within the same land, one is a farm house the other is a converted barn. Both legally separate dwellings, and so we wondered if purchasing on two mortgages would be allowed?To by both properties as a whole would increase the level of stamp duty, where as one is valued below the stamp duty threshold, and so we didn't know if that that was allowed in order to save money.
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Comments
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Are the properties on the same title deed?0
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If it's same vendor, same purchaser they'll be classed as connected transactions and the higher rate will apply in terms of SDLT.
Mortgages will be subject to status and affordability as usual.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.0
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