• 2 Title Deeds With 2 Owners - Purchasing Nightmare!

    By Guest on 02nd Aug 2023

    I’m purchasing a property - or trying to!

    First hurdle - the house has 2 kitchens, so most lenders won’t touch it as residential. Also a current business on the property, business is not included in the sale. Again issues with lenders as they survey it as it is. So a 2 lenders have decline me due to the 2 kitchens and current business claiming it’s a business mortgage I need.

    I’ve sorted a mortgage now. However the house and garden are on one title (owned by the parents who currently live there) and the land owned by the daughter is on another title.

    Mortgage company have stipulated that the titles be amalgamated before the sale as the don’t lend against separate titles. However due to the separate ownership this cannot be done. The daughter doesn’t want to transfer her legal interests to her parents albeit temporarily.

    What else can be done?

    It’s taken a fight to be the mortgage due to the quirky nature of the property.

    Also does it affect the value being on 2 titles?

    Thanks for reading!

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