Hello Forum,
So recently I showed interest in a property that came with quite a decent bit of land. It was rather cheap, only £60,000 asking price. I went to the property as I wanted to confirm the boundary of the property, and I could believe it. It was a 3 bedroom terraced property, that had a gap between his house and his neighbors house that could easily fit 2 more properties in. However he raised to be a problem with the exterior wall, that it was only a single brick wall, and not a cavity etc. Apparently a lot of houses like this are 'un-mortgageable'. After doing some research online a lot of people seem to be having problems selling houses with only single brick exterior walls. Anyhow, I paid for a survey to be carried out, lo and behold the bank came back with a thumbs up, they had accepted the mortgage. So a lot of worry over nothing it seems! The same vendor also owns the house next door to this one, and wants to sell it to me also. I plan on doing both houses up, renting them out for a few years and in the mean time getting plans drawn up for either more houses/flats. They are building flats across the road and a lot of the houses along this row have been modified with huge dorma loft conversions and the like. So I'm hopeful of a decent outcome!
Thanks for listening to my story :)
So recently I showed interest in a property that came with quite a decent bit of land. It was rather cheap, only £60,000 asking price. I went to the property as I wanted to confirm the boundary of the property, and I could believe it. It was a 3 bedroom terraced property, that had a gap between his house and his neighbors house that could easily fit 2 more properties in. However he raised to be a problem with the exterior wall, that it was only a single brick wall, and not a cavity etc. Apparently a lot of houses like this are 'un-mortgageable'. After doing some research online a lot of people seem to be having problems selling houses with only single brick exterior walls. Anyhow, I paid for a survey to be carried out, lo and behold the bank came back with a thumbs up, they had accepted the mortgage. So a lot of worry over nothing it seems! The same vendor also owns the house next door to this one, and wants to sell it to me also. I plan on doing both houses up, renting them out for a few years and in the mean time getting plans drawn up for either more houses/flats. They are building flats across the road and a lot of the houses along this row have been modified with huge dorma loft conversions and the like. So I'm hopeful of a decent outcome!
Thanks for listening to my story :)