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Old 04-10-2016, 12:35 PM
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Join Date: Oct 2016
Posts: 1
Default Mortgage advice - complicated

Hi guys,
having no knowledge on mortgages i come to you for help and advice.

background.
I currently rent a property a few streets away from my parents house(s)

my father owns two properties next to each other, 707 and 709. both properties are knocked through from the top of the stairs and the kitchen. both knock through are reversible.the properties are still two separate entities on the deeds, tax and utilities. 707 has no mortgage and 709 has around 13000 left.

i intend to move back into 707 but keep it as one inside, my dad is willing to sell me that side of the house less than the market value and will gift the deposit.

so my question is how i go about obtaining mortgage for this. will a surveyor allow a knock through or would this play a part. i do not want to rebuild the wall just for a surveyor and then knock it out again.

how would the no deposit thing work?

the property has an estimated value of 140k and my dad would sell it for 130k so i would mortgage 110k and my dad is waiving the deposit so the property is essentially costing me 110k.

i apologize for my lack of knowledge in this field and hope someone can point me in the right direction.
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Old 14-10-2016, 12:13 PM
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Join Date: Nov 2013
Location: Hong Kong
Posts: 154
Default Re: Mortgage advice - complicated

Zu11y you really need to see what is on the title deeds. Sounds like it is still classed as two properties but thats your best place to start. If they are separate just build up the wall again
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Old 18-10-2016, 08:52 AM
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Join Date: Oct 2016
Posts: 35
Default Re: Mortgage advice - complicated

Quote:
Originally Posted by zu11y View Post
Hi guys,
having no knowledge on mortgages i come to you for help and advice.

background.
I currently rent a property a few streets away from my parents house(s)

my father owns two properties next to each other, 707 and 709. both properties are knocked through from the top of the stairs and the kitchen. both knock through are reversible.the properties are still two separate entities on the deeds, tax and utilities. 707 has no mortgage and 709 has around 13000 left.

i intend to move back into 707 but keep it as one inside, my dad is willing to sell me that side of the house less than the market value and will gift the deposit.

so my question is how i go about obtaining mortgage for this. will a surveyor allow a knock through or would this play a part. i do not want to rebuild the wall just for a surveyor and then knock it out again.

how would the no deposit thing work?

the property has an estimated value of 140k and my dad would sell it for 130k so i would mortgage 110k and my dad is waiving the deposit so the property is essentially costing me 110k.

i apologize for my lack of knowledge in this field and hope someone can point me in the right direction.
What is the current position from inside of the property? Are they merged from inside?
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