
Splitting land titles on a country estate allows purchase with residential and buy to let mortgages
Large mixed-use country estates offer attractive potential to buyers, with outbuildings offering rental income from business units or home rentals. But a mixture of owner-occupier and rental can be problematic for lenders.
The Scenario
Our client, a senior manager in corporate hospitality, was buying a beautiful 4-bedroom manor house on a 67-acre estate in Buckinghamshire for her family. In addition to the substantial main house, a stable block annexe offered additional accommodation in two units – one with four bedrooms, the other with three, plus kitchen / living areas. There was also a 3-bedroom entrance lodge; our client intended to rent the additional accommodation out as three separate units.
The estate was being sold as one title, but mortgagors are reluctant to lend on properties that combine residential and rented properties, because of the issues involved with evicting tenants should the borrower default on the mortgage.
The Solution
The answer was to put the properties on four separate titles: the main residential house, each of the stable block units, and the entrance lodge.
It can seem like a daunting amount of legal work, but a vendor will quickly be aware that any purchasers needing finance will face similar issues. And in this case they were still only dealing with one highly-motivated buyer.
The legal costs of £500-£600 for each title transfer were manageably absorbed into the total purchase costs, and we were then able to arrange the four mortgages for our client: one residential and three buy-to-let.
Louis Levine
Finance Executive CeMAP
Bristol
0117 457 7862
Are you looking for a similar type of property finance?
Get in touch today and find out how I can help.
George Abouzolof
Finance Broker
Bristol
0117 403 3444
Do you need help sourcing your own property finance?
I have extensive experience securing UK mortgages for expat clients. Book a free telephone consultation with me at a time to suit you
Bridging Team
Clifton Private Finance
Bristol
0117 959 5094
Are you in need of a similar type of property finance?
Book a free telephone consultation with one of our bridging specialists today and see how we can help you.
Sam Baker
Finance Broker
Cardiff
0117 959 5094
Are you looking for a similar type of property finance?
As a specialist bridging adviser at Clifton Private Finance, I can take a holistic view of your situation and find the right finance solution for you. Book a free telephone consultation with me at a time to suit you
Fergus Allen
Finance Broker
Cardiff
0117 959 5094
Are you in a similar situation? I specialise in bridging finance at Clifton Private Finance - I will find you the best funding solution for your property transaction.
Book a free telephone consultation with me at a time to suit you
Jacob Phipps
Finance Broker
Bristol
(+44) 0117 959 5094
Are you looking for a similar type of property finance?
I specialize in helping international clients source residential and investment property finance for UK property. Book a free telephone consultation with me at a time to suit you
Jack Spillane
Finance Broker
Bristol
0117 959 5094
Mathew Phillips
Senior Finance Broker
Bristol
0117 959 5094
Are you in a similar situation? I specialise in bridging finance at Clifton Private Finance - I will find you the best funding solution for your property transaction.
Book a free telephone consultation with me at a time to suit you
Alex Chambers
Senior Finance Broker
Bristol
0117 403 4324
Are you in a similar situation? I am a specialist in residential and investment property finance for UK and international clients at Clifton Private Finance. Please don't hesitate to get in touch for a no-cost discussion of the finance you need.
Book a telephone consultation at a time that suits you:
Luther Yeates
Senior Finance Broker
Bristol
0117 244 5561
Are you looking for a similar type of property finance?
I have extensive experience finding residential and investment property finance for UK and international clients. Book a free telephone consultation with me at a time to suit you.
Sam ONeill
Senior Finance Broker
Bristol
0117 959 5094
Is your situation similar?
I am a bridging finance specialist at Clifton Private Finance. I can find a quick, cost-effective solution for the funding you're looking for. Book a free telephone consultation with me at a time to suit you
Robert Gibb
Senior Finance Broker
Bristol
0117 959 5094
Are you looking for mortgage or short-term finance for residential or buy-to-let property (including HMOs)? I have extensive experience in finding property finance solutions for UK and international clients, both as individuals and limited companies. Please give me a call and let me see what I can do for you.
Book ConsultationAdam Arnott
Associate Director
Bristol
0117 205 0214