Flipping a property question

[loncell]

Good guess :) as a m8 once said "Whats that smell?, have you shit ?" I said "I farted, shit's a bit thicker"

 

[pabloescaban]

It's irrelevant how you found the property.
You asked for advice on whether you could mortgage, change boundaries and sell off the thing inside 6 months.
No, is the answer but feel free to find out for real.

 

[loncell]

Just have done and you can do it in roughly 6 months lots do it

 

[steptoe]

I never said it was easy so I'm not quite sure were you got that from. What can be easy for one can be a nightmare for others, each individual case is different.

It sounds to me like you've sadly had a bad experience while subdividing land and it's left a nasty taste in your wallet.

The lender has a vested interest in your property, till you pay it off its basically there's.

You apply to subdivide via land registry then the lender will re-visit and see if by losing part of the land from the oropertt affects the value of what's owed and what percentage of equity is left in the property.
If this is low they will refuse your request. You will then have to stump up some money so make sure prior to you taking out your mortgage you can make overpayments with no penalties.

This way you can overpay and drive down what's outstanding on your mortgage in turn making it possible to split part of the property you want to subdivide.
Yes granted there are lots that can go wrong along the way but this doesn't mean that every case will be a mare.

I'm not one for not doing because someone has a bad experience I try to learn from those mistakes and hopefully spot problems before it's too late.
You never know till you try

You are making a lot of incorrect assumptions
It's has cost me relatively nothing to change my boundary, less than £200 to be precise
It's just a slow process, when someone else has the control of the property , ie: the lender
And I have actually increased the value of my property, by enlarging the boundary
But, as has been said, like so many others, you have asked for advice, you haven't liked it, so are ignoring it and waiting for someone to tell you this is a simple process and takes about a fortnight.
You asked how people can flip a house in 2 months and were told they don't have mortgages, you didn't like that so keep asking the same thing in a different manner.
Just remortgage one of your other properties, then you will be a cash buyer and can do whatever you want with the new property with no lender having control

 

[loncell]

OK great

 

[pabloescaban]

Just have done and you can do it in roughly 6 months lots do it

So you 'just have done' it then decided to ask if it could be done?

 

[loncell]

No I asked, listened, asked elsewhere and got it done so thanks for your advise