I own a house that was converted into three flats about 30 years ago and is mortgage free. I'd like to raise capital against it but have found it very difficult to get a mortgage on the whole property as it is classed as a commercial mortgage.
I would like now to get each flat separated as an individual leasehold property, thereby creating three separate flats each of which could be re-mortgaged as required - I don't wish to sell any.
I have looked on this forum (and others) for similar queries and so far I believe I will need to get an architect to draw plans of each flat as they currently are, plus a solicitor to draw up the title deeds for each flat. The property does not conform to current building regs which may create problems.
Please, can anyone advise on what else would need to be done and recommend any solicitors who could do create the deeds?
Many thanks
Rob
I would like now to get each flat separated as an individual leasehold property, thereby creating three separate flats each of which could be re-mortgaged as required - I don't wish to sell any.
I have looked on this forum (and others) for similar queries and so far I believe I will need to get an architect to draw plans of each flat as they currently are, plus a solicitor to draw up the title deeds for each flat. The property does not conform to current building regs which may create problems.
Please, can anyone advise on what else would need to be done and recommend any solicitors who could do create the deeds?
Many thanks
Rob