Ask an Property Solicitor. Get an Answer ASAP.
I'm sorry I never got an email notification that you have replied, hence the late response.
I will ask my mortgage broker if he can assist me in this, and if I've further queries I'll contact you, many thanks.
No, you're extremely clear, and thank very much for advising me. I've in the meantime contacted my broker who apparently has got a Lender who will give me a mortgage on the property, as it is. The broker will speak to this Lender today/tomorrow and let them know my intentions of having two titles in the future, and he will let me know if they are ok with it.
The property was bought for £200k and I've had it valued as two separate units last month. Each unit can be sold for £150-£165K . I've sent a letter confirming this to the broker who will speak to the Lender. At present I owe the existing lender £160K.
That's what the broker has advised. He wants to move lenders first.