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Title deeds and mortgages
sarah_liz
Posts: 22 Forumite
We’ve seen a complex of properties for sale for £1.5m.
We have £500k for a deposit but would need to borrow the rest.
We’d like to buy the complex, split the title deeds, keep one property and re sell the rest.
Our current thinking is to get a BTL mortgage and rent the properties short term, whilst we deal with the paperwork splitting the titles and try to sell them.
Our current thinking is to get a BTL mortgage and rent the properties short term, whilst we deal with the paperwork splitting the titles and try to sell them.
Would the mortgage company allow us to split the title deeds whilst it’s under a mortgage?
Or, can that be done once the sales go through?
We have spoken to the agent and he says he has people interested in purchasing some of the other properties in the complex (it’s a beautiful area and very popular) but they cannot afford the £1.5m for the whole lot.
We would appreciate thoughts, ideas and examples if you have done anything similar. Thanks
Or, can that be done once the sales go through?
We have spoken to the agent and he says he has people interested in purchasing some of the other properties in the complex (it’s a beautiful area and very popular) but they cannot afford the £1.5m for the whole lot.
We would appreciate thoughts, ideas and examples if you have done anything similar. Thanks
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