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My mother owns a property and wants to downsize. We are looking to extend the property, then split it in two. She would live in one smaller house and the other small house would be rented out. Her house would remain largely the same but the second house would need major renovation/extension work.
My question relates to how the property title can be legally split. I understand this would be quite easy to do if it were a piece of land to the side of the house for instance. But in our instance we'd be looking to divide the current house along an existing wall, block off any doorways etc, separate the utilities and erect fences in the garden as a starting point.
Is there a minimum amount of physical work that would need to be done to the property as I describe above to be able to be able to split the title at the land registry? We'd like to split the title without having to do all of the work up front.
Is it a terraced or end terraced? I ask because I looked into doing this with my house and it turned out I needed to fireproof all the walls between the two new houses and also between the old house and the one next door. Basically both houses were treated as a new build and had to conform to current building regs. I guess it depends upon where your mum's house is and the property value but in my case with a house worth around £275k it was going to cost as much to separate it into two houses as I would be able to sell the second house for.
Currently the house is an end-of-terrace. We have already been advised that there would be improvements to the existing house such as insulation. The numbers stack up for us but not to the extent we might have hoped for. But above the property value we are pushing on as (a) mum needs to downsize and (b) there will at least be a rental income generated from the split going forward.
Did you get as far as looking into splitting the title?
Sorry - I posted that quickly because I had to go out. Mine is a 3 storey with basements and in an L shape, ,so three large walls connected with the neighbour so, adding in the wall between what would be the old and new house, four walls altogether needed fire insulation and that made it very costly. I got the project planned and costed out by an architect and it wasn't viable for me. I seem to remember him saying that neither property could be used until the project was complete but I can't remember at what stage the split would be done on the land registry, sorry. My project was to split it into a four bed and a two bed and as I said, I might have been able to sell the two bed for what it cost me to do it. If you've already had yours planned and costed and it's worth it, then my tale is irrelevant
For a new Land Registry Title you would need to create a lease for the new part, which would be shown in detailed drawings.
The amount of physical works depends on how compliant you want to be with Planning and Building Control.
Thanks John. Part of our thinking here is about financing, what we'd like to do a few works on plot 1 (where mum stays), split, and then get financing on plot 2 to do the heavier renovation.
To make sure we do not fall foul of Building Control, do you think we could make plot 1 100% compliant, then legally split and treat plot 2 as a development project?
I was told I couldn't do that but that was only what my architect said.
I'd imagine that you'll struggle to get finance on plot 2 until you have planning permission in place.
We would get planning permission in place for the split before starting any works.
That might well be the most challenging bit