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Nvh1234
New Member
We had an offer accepted on a first floor flat in a Victorian conversion. There is a property below (ground floor) and a property above (in converted loft space) I looked into the current lease registered online and it says the current lease for the first floor flat includes loft space above and stairwell leading up to it - so obviously the current owner has split the first floor and loft and created another property. The property above the first floor flat I cannot find registered anywhere and there is no actual address for it yet.
I am wondering whether when the mortgage provider will take this into consideration when valuing the property we are about to buy - in adding they’ll use an an automated valuation model as the property is in London, and Im not sure whether they’ll assume the loft space (new property) is included as part of the flat we are trying to buy as officially this has not yet changed on any public document. Has anyone encountered something like this before? I don’t want the providers to overvalue the property and we have trouble selling it down the road
Any help is greatly appreciated!
I am wondering whether when the mortgage provider will take this into consideration when valuing the property we are about to buy - in adding they’ll use an an automated valuation model as the property is in London, and Im not sure whether they’ll assume the loft space (new property) is included as part of the flat we are trying to buy as officially this has not yet changed on any public document. Has anyone encountered something like this before? I don’t want the providers to overvalue the property and we have trouble selling it down the road
Any help is greatly appreciated!
