We are looking to increase the size of our house and we have been offered the opportunity to purchase next door.
We have a mortgage on our current property and will need further mortgage funding to purchase the adjoining property. Having spoken to our current mortgage provider today they have confirmed that they are not able to provide us with a mortgage because they cannot provide one mortgage for two individual properties which have separate title deeds. Furthermore, they confirmed that they can not provide us with two residential mortgages on adjoining properties (they could however provide if one property was in London and required for work whilst the other was a family home in the country as an example!)
Please can anyone advise of how the mortgage structure could work for such a situation or whether there is a preferred bank for providing a mortgage in this situation.
We have a mortgage on our current property and will need further mortgage funding to purchase the adjoining property. Having spoken to our current mortgage provider today they have confirmed that they are not able to provide us with a mortgage because they cannot provide one mortgage for two individual properties which have separate title deeds. Furthermore, they confirmed that they can not provide us with two residential mortgages on adjoining properties (they could however provide if one property was in London and required for work whilst the other was a family home in the country as an example!)
Please can anyone advise of how the mortgage structure could work for such a situation or whether there is a preferred bank for providing a mortgage in this situation.