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Division of land title or splitting deeds??
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Just found this on Money Expert. I am also in a near identical position, and would be greatly interested to know if and how this was resolved. MAny thanks0
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I am new to this forum and am looking for advice and it will be gratefully recieved.
I have a buy to let property which was my main residence until three years ago I own no other property.
I have within the property a Flat which has had a Cert of Lawfulness granted and is currently under one title.
Am looking to Split the Title am aware I cannot be the Freeholder and Grant a lease to myself so I have no option but to setup a limited company as sole shareholder and transfer the freehold to it and grant a long lease back to me.
I want to enquire as to the SDLT implications the reasons for the Split are to mortgage with existing lender.
My other option is to redeem my current charges on property and get another larger mortgage but will incur penalty charges as a result of 2% of loan value.
Thank You0
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