X

Sign Up

or

By signing up I agree to Property Tribes Terms and Conditions


Already a PT member? Log In

Sign Up

Sign Up With Facebook, Twitter, or Google

or


By signing up, I agree to Property Tribes Terms and Conditions


Already a PT member? Log In

Log In

or


Don't have an account? Sign Up

Forgot Password

To reset your password just enter the email address you registered with and we'll send you a link to access a new password.


Already a PT member? Log In

Don't have an account? Sign Up

  • Mortgages & Finance

    Difficulty getting residential & btl mortgage

    Hi please help in a panic!

    I'm having difficulty obtaining a mortgage for my house which we divided into two maisonettes a couple of years ago.  

    Currently we have a large Btl mortgage on the upper maisonette whilst the other maisonette is owned outright.  

    We are looking to now divide the finance so that we can take out a residential mortgage on the upstairs property and a btl on the basement.  This would leave approx 40-50%. equity in each property.  

    When the leases were drawn up our solicitor named my husband and I on both leases as well as the freehold and I have been advised that this is not acceptable to the lenders and that we should move the freehold to a Ltd company.  The leases we created are each 999 years with peppercorn ground rent so Im not sure what the value of the freehold will be.  My main concern is that we are going to complicate our tax situation or incur Stamp duty/CGT.

    If anyone could shed any light or advise how we might best proceed that would be much appreciated!

    0
    0

    Hello,

    I don't see why we should have any problems with this.  There may be a couple of lenders who have an issue but I am certain that there are many more that don't.

    Are you able to drop me an email on austyn@hdconsultants.net or call 07500871209 so that we can discuss it further?

    Many thanks

    Austyn.
    Property Tribes Financial Services

    0
    0

    Financial Consultant working with Property Tribes Financial Services.

    Always cover your debts, don't leave them for your loved ones to pick up. Ask me how - austyn@hdconsultants.net