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two dwellings being sold as one with estate agent - mortgageable?
debri
Posts: 2 Newbie
We are interested in buying a pair of cottages listed as one plot with an estate agent. We are not cash buyers which would obviously be the best route, is there a mortgage that would allow us to buy the plot and convert the two dwellings as one?
The two cottages are old farm cottages, one listed (Grade II [1726]), the other is a 1970s addition, making an attached pair, both small (2 up, 3 down) which are crying out for being made into a loved 3 bedroom detached cottage. Access to the 1970s semi is past the original, only one garden / drive, hence being sold as one.
Any thoughts on finding a mortgage for this property would be welcome. We have an existing mortgage on a completely separate property miles away.
Thank you.
The two cottages are old farm cottages, one listed (Grade II [1726]), the other is a 1970s addition, making an attached pair, both small (2 up, 3 down) which are crying out for being made into a loved 3 bedroom detached cottage. Access to the 1970s semi is past the original, only one garden / drive, hence being sold as one.
Any thoughts on finding a mortgage for this property would be welcome. We have an existing mortgage on a completely separate property miles away.
Thank you.
0
Comments
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Sounds like one for a specialist lending product and one to put through a broker.
One key factor will be if you are buying with planning permission.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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 -
I wondered about planning and have looked into whether it is possible to put in for planning consent for two to one dwelling without yet being the owner, I will chase this up tomorrow but from quick investigation it would appear you can with the owner's consent. You feel this would definitely help though?0
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Unless you only want to be left with an expensive funding option it will be essential.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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
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