How to mortgage a property while still being able to develop it.

jsl4444

Yes it is in my name only and was done around 7 mths ago.

Thrugelmir

jsl4444 wrote: »

Yes it is in my name only and was done around 7 mths ago.

Just wondered given that you and your sister were both beneficaries of the estate.

justjohn

Split the titles. How you split depends on what size of mortgage you need and also if you intend to sell the split properties.


it can always be put onto one deed at a later date. I have done a few split offs to sell the main properties and keep the outbuildings.


Find out what the broker recommends then get the solicitor to action it.

amnblog

Probably also on the advice of the lawyers.

jsl4444

Thank you all for the great input, much appreciated.

Ok so it sound like to split the title may be the way.

On the assumption I have drawings done by an architect of the division by the end of the week. What are the next steps and any idea of a likely timescale? As before, I am most interested as to at what point in the process I can apply for a mortgage, what i will need to hand to make that application.

Then assuming it is accepted what then needs to happen?

I intend to use a lawyer and a broker, but as so far it has been so stop start i just want to know what the likely approach should be.


Thanks again