• 2 Flats On 1 Freehold Deed,

    By Guest on 08th May 2019

    i have 2 flats on 1 frehold deed. i want to release equity on the 2 properties so I can buy another house but ive been advised I need to split the deeds so I can get a remortage on them is this correct?

  • 1 Answers

    By Guest on 09/05/2019

    Your mortgage adviser should be able to advise you whether or not the equity release provider would be happy to charge just part of the title or all of it.

    If they charge part of the title, HMLR will split it on registration. Otherwise the only way to split it prior would be to transfer part of the property to someone else, e.g. a family member or a company you control. Obviously if you transfer it outside of your control you rely on that family member to cooperate. You should retain the part you are charging to the equity release provider.

    You could ask HMLR to split the title without any transfer or charge but that's at their discretion and they are overworked so will refuse as a matter of course.

    I advise you use a professional conveyancer e.g. Notary Express on 03333 122 221

    www.notaryexpress.co.uk

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