Two properties into one

p00hsticks

Karen_A-M wrote: »

Firstly thanks for everyone's input....
A couple of you have mentioned about either leaving the adjoining doorway in such a way as it could revert to two houses again easily, or to rent out the other side for a few years - the thing is that the reason I need next door too is that my side is too small. The bathroom is downstairs in a damp tiny space, as is the kitchen (and I mean tiny) so I basically have one room down stairs. Although there could be space for the bathroom upstairs it is technically difficult (won't bore you with why but have had a number of people look into it). I have a 2yr old so using our one downstairs room as lounge, playroom, place to eat and for me to work in is very difficult. We need the space. (Until early this year I also had my very ill husband in that room too but he sadly passed away). Our intention had always been to get next door so he could have his own space. Although that's obviously no longer relevant I really want to continue with our plans.
Sorry, probably oversharing there...

That's a good reason for not renting it out, but what is the drawback for the first option, of just reopening the door ?

I'm reading this thread with interest as we live in two adjoining terrace properties which have a door in between (the kitchens of both open onto the end of a covered entry running between the two houses). We've kept the utilities and council tax separate as we think this will make it easier when it comes to selling on. As we live in a cheap part of the country we bought both for cash though (one in 1991 and the second in 2003 after our elderly neighbour died) so we've never had to run the situation past a mortgage comany.

eddddy

So it sounds like you want to merge two freehold titles.

Karen_A-M wrote: »

My mortgage company have said it would be an unacceptable risk...

Are you sure that your mortgage lender understands that you want to enlarge your mortgaged property by merging two titles?

If so, you need to ask them exactly what the risk is that they are worried about.

If you just said you wanted to buy next door and create a doorway, they may have thought you were planning to keep two separate titles.

martindow

I wonder if there may be a planning issue here. You can certainly require planning permission to divide a house into two - it possibly applies if you want to recombine them.

eddddy

martindow wrote: »

I wonder if there may be a planning issue here. You can certainly require planning permission to divide a house into two - it possibly applies if you want to recombine them.

Yes - planning consent will be required, but it should be little more than a formality, as the property was previously one house.

rosyw

eddddy wrote: »

Yes - planning consent will be required, but it should be little more than a formality, as the property was previously one house.

I would double check this. We did exactly what the OP is proposing, the local planning dept. told us that no permission was required, but we would need building regs. Planning IS required though if at some point in the future someone wants to divide it up again.

We remortgaged the half we already lived in to finance the purchase of "next door", effectively buying this for cash. Once we had completed the work to turn it back to one house we spoke to our solicitor about combining the deeds, he strongly advised against it unless we wished to sell, his view being that IF at some point we got into financial difficulties the mortgage company would find it almost impossible to repossess half a house, I imagine that THIS may the risk OPs mortgage company are referring to?

onlyroz

I'm still not seeing the problem with opening up the interior doorway, possibly taking out the back fence between the two gardens, and then putting them back in again when you want to sell one or both properties.

hazyjo

If you are devaluing it, it would probably be more cost effective to sell up and move, buying one house with a mortgage, equity and cash. Two houses (even if they were once one) knocked into one doesn't mean the house is worth double what it was.


You may find that with stamp duty (second home) on top, you might have spent far more than what it might be worth.


Jx

davidmcn

eddddy wrote: »

If so, you need to ask them exactly what the risk is that they are worried about.

onlyroz wrote: »

I'm still not seeing the problem with opening up the interior doorway, possibly taking out the back fence between the two gardens, and then putting them back in again when you want to sell one or both properties.

While what the OP is planning may be perfectly reasonably, the lender has probably had their fingers burned in the past by borrowers buying next door in order to knock through, and leaving them trying to repossess and sell a half-finished building site.

onlyroz

davidmcn wrote: »

While what the OP is planning may be perfectly reasonably, the lender has probably had their fingers burned in the past by borrowers buying next door in order to knock through, and leaving them trying to repossess and sell a half-finished building site.

I was under the impression that nothing would need "knocking through" but that a doorway already existed that could easily be opened up again.