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Hi
I have had a google on this and can't find any indication of what it might cost.
We have a property which is a mix of residential and commercial, we bought it as it is now, with 1 freehold. Our mortgage deal is finishing and we would like to split it into 2 freeholds, which would allows us to put the remaining mortgage on a residential basis. This would be a lot cheaper.
I know we may have to look at separate power supplies, water etc but the 1st step is the legal stuff.
Anyone any idea how difficult this is and what would the cost be?
No idea, but are you sure you can convert the commercial part to residential? I would have thought you're going to need planning before you can do anything else.
Sorry I wasn't clear. I don't want to convert the commercial to residential.
The intention is 2 split into 1 residential and 1 commercial property. The equity would pay for the commercial part and the new mortgage would only be on the residential part. Giving us a cheaper rate.