Combining two adjoining cottages - mortgage implications and amalgamation of titles?

Digger10

Hi there
First-time posting but as you're such a knowledgeable lot i thought you may be able to advise.
We have acquired the neighbouring property and are intending to combine the two to make one family home.  It is a decision made on personal, not financial grounds, as we wouldn't be able to find a similar house so close to family, friends and outlook.

Both properties are registered in our name under Land Registry and are freehold.  The adjoining property, now in our name, is unencumbered.  Our existing property has just been re-mortgaged (and obviously there is a charge on the title).  We may be able to fund the conversion works directly.  When works are completed we would wish to remortgage the entire property.  Would it be helpful to amalgamate the two properties to make any eventual remortgage process smoother? (as obviously without doing this there would be two property titles with different red lines).

Thanks for any suggestions

I have searched a number of threads but not found one which addresses the situation.

davidmcn

You will need your current lender's consent before you start the works (might not have been a great idea to do the recent remortgage!). They will not fancy the risk of repossessing either a building site, or half a house. You might need specialist development finance and then switch back to a "normal" mortgage once the works are done. Doesn't matter whether the property is split over two registered titles though.

Digger10

Thanks for this.  Interesting that it doesn't matter when split over two registered titles.  Acknowledged re current lender...
This process has been surprisingly uncommon compared to our initial assumptions!