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    • Af1965
    • By Af1965 7th Aug 18, 2:08 PM
    • 2Posts
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    Af1965
    Mortgage company for home with annex
    • #1
    • 7th Aug 18, 2:08 PM
    Mortgage company for home with annex 7th Aug 18 at 2:08 PM
    Hello there, we are in the midst of selling our house and buying a home which has a separate annex which we intend to use for my brother who has MS and will eventually come down to live with us. The annex has its own council tax and now eight weeks into the process with first direct they complete a survey for mortgage valuation and tell us they cant offer us the mortgage, as it has two council tax bills. Its all on One title deed. Does anyone know of mortgage providers that might be able to do this as we have contatced a few now and in the high street names not getting any success? We are in the middle of a chain and want to proceed but who can we talk to. All advice appreciated. Thanks
    Last edited by Af1965; 07-08-2018 at 2:12 PM.
Page 1
    • Captain_Kirk427
    • By Captain_Kirk427 7th Aug 18, 2:33 PM
    • 12 Posts
    • 6 Thanks
    Captain_Kirk427
    • #2
    • 7th Aug 18, 2:33 PM
    • #2
    • 7th Aug 18, 2:33 PM
    We got ours (through a broker - recommended!) with Virgin Money.
    They only wanted us to get a letter signed by the occupant of the annexe to say that they would adhere to the terms of the mortgage and had no financial interest in the property (or something like that)

    Edit to add -

    Have a read into Multiple Dwelling Relief / ask your solicitor about it. It could significantly reduce your stamp duty bill if your purchase qualifies
    Last edited by Captain_Kirk427; 07-08-2018 at 2:38 PM.
    • Af1965
    • By Af1965 7th Aug 18, 4:27 PM
    • 2 Posts
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    Af1965
    • #3
    • 7th Aug 18, 4:27 PM
    • #3
    • 7th Aug 18, 4:27 PM
    thanks for the info. We will try them. And just to confirm that was a property that had two council tax bills. Thanks for your advice.
    • LRmortgage
    • By LRmortgage 7th Aug 18, 7:06 PM
    • 103 Posts
    • 25 Thanks
    LRmortgage
    • #4
    • 7th Aug 18, 7:06 PM
    • #4
    • 7th Aug 18, 7:06 PM
    Use a broker for this type of specialist lending, otherwise you are just shooting in the dark.
    • Captain_Kirk427
    • By Captain_Kirk427 8th Aug 18, 8:06 AM
    • 12 Posts
    • 6 Thanks
    Captain_Kirk427
    • #5
    • 8th Aug 18, 8:06 AM
    • #5
    • 8th Aug 18, 8:06 AM
    Definitely agree with using a broker. They warm the mortgage company up to the fact that you aren't going to rent out the annexe (which is the issue with annexe's, as if you default the mortgage company has a harder time gaining possession and recouping their money).

    However, to answer your question, yes it was with 2 council tax bills (and still is). The annexe is attached to the main property, and has internal access between the 2. But it also has it's own front door, utilities, council tax etc.
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