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Category: Property Law
Satisfied Customers: 33524
Experience:  Barrister at Self Employed Barrister
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I had a 5 bedroom house which I split into a three bed and a two bed. my intention was to

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I had a 5 bedroom house which I split into a three bed and a two bed. my intention was to get a buy to let mortgage to repay the bridging loan I took out for the work. to get a buy to let mortgage I need a separate title registered with the land registry. I am a widow with no mortgage on the property.
My current solicitor did not explain this to me and is now saying that it will be very complicated and expensive. Could I put my son and daughter on the current deeds and then register the two bed part separately to satisfy the requirements of the buy to let lender?
You could - but strictly speaking you do not need to do that. You are basically seeking to re-register the property as two rather than one home - whether you transfer part or all of the property to you son and daughter would still bring about the need for there to be two sets of deeds - so nothing would be achieved by undertaking such a move. The fact is that you simply need to shop around and get the best price for re registering. Happy to discuss - please rate
Customer: replied 2 years ago.

I am sorry to take so long to get back to you my key board gave up the ghost yesterday evening and I have only just managed to get it sorted out.

I am very confused as I have been told that I cannot split the title unless there is a transferor and a transferee and they cannot be the same person - there has to be a third party involved.

Also a friend googled "Splitting the house" and it came up with a response from Joshua on Just Ask from about a year ago to someone with a very similar scenario as myself, the main difference being that I have no mortgage on the original property. That suggested putting someone else on the current deeds as joint owner and then splitting the property with me as sole new owner of the new two bed bit. This would mean no CGT or stamp duty problems.

I am probably being a bit thick but I am getting very desperate to sort this out because of the potential finance problems and I have lost confidence in my current solicitor.

Thats fine - but for this situation that you are in you need to split the property into two so that you can get two sets of deeds- - it is remarkably common these days - with builders buying and splitting houses into flats. I rather think that you may wish to consider changing solicitors as this happens all the time. Please rate positive
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