Hi Mumsnet community.
I'm in need of mortgage advice and was wondering if anyone could share their experiences.
I'm in the middle of talking to a couple of mortgage brokers trying to find a lender willing to lend in our situation, but no luck yet...
We own the ground floor Leasehold flat with a low(ish) mortgage. We are looking to try and buy the freehold to the property, which includes the upstairs flat, to turn it back into a house. This has been a dream for a long time and the only way we could stay in our area due to the crazy house prices.
We are now nearing the end of negotiations with the seller and so have an idea of how much we need to borrow, but we are struggling to find a lender to loan on this. We haven't exhausted our options yet, but I am trying to do as much research myself. Has anyone borrowed in a situation like ours and could suggest what lender and broker you used?
The level of work to turn it back into a house, in theory, would be basic. We would only need to take out a partition wall and remove the upstairs kitchen. Obviously there is more work to modernise and reflect our style ; ) and there is the merging of deeds etc....
I realise there might be few ways to borrow in this situation, so I would love to hear of any experiences people have had too.
Any help or advise would be greatly appreciated.