Welcome everyone, This is Ziggy,

Im self employed person working with local estate agent in West London helping them with property maintenance,

Also providing services for my private customers,

 

I decided to give it a chance and see if I can find a bit of advice on this site,

I hope that there are individuals in here with  better knowledge than mine in property subject,

 

Basically about 3 years ago I have completed a kitchen extention at one of my BTL properties ( I didn't notify my lender-Birmingham Midshires about planned work)

I own 2 houses that are next to each other, I live in one of them and another one is rented for tenants,

Between those 2 houses there was a long passageway from the front to the back of the properties and I came with this great idea of building a wall half way through the passageway and including one half of this passageway to one house and another half to second house. One of this half( back of passageway) is serving as a beautiful en suite to new bedroom located in newly build extention and a plan for second (front) half of passageway is also to alter it to a bathroom serving second property.

 

Before starting all works Ive employed an architect and he was in contact with local council and also prepared all the plans, drawings and building regulations,

All work has been inspected by an inspector from council on regular basis and at the end of entire work Completion Certificate has been issued and extention has been sign off by local authority.

 

Now, I been adviced by mortgage broker that I should contact a correct solicitor in order to amend deedes of those properties as changes to the layout has been done and also apparently I have created Flying Freehold,

And if I dont amend deeds for both houses I may have issues in the future in case if I decide to sell one or both of these properties.

 

From what I understand a solicitor will have to contact my lender-Birmingham Midshires in order to let them know about changes that took place during the renovation,

My question is that of how they (my lender) may/will react to whats happend?  This job is completed more than 3 years ago and is signed off by local authority,

 

I wonder if anyone has an idea of what could happen if I employ a solicitor now to amend deeds for both houses? Can mortgage lender impose some penalty on me for not notyfing them about this work or maybe increase my interest payments ?

 

Any answer to my question will be much appreciated,

Kind Regards,

ziggy

 

 

Edited October 20, 20241 yr by ziggy1975
mistake

Have you devalued the properties or made them harder to sell? 

 

If no, then the lender won't care. Just get the paperwork right as advised.

Some lenders won't lend on properties with flying freeholds. Therefore they may ask you to repay the loan in a worst case scenario.

 

If you are keeping the properties for the long term and are happy to renew the mortgage deal with Birmingham Midshires then you probably don't need to rock the boat until you are financially able to repay the loan if required