Landlocked property – no access rights?
I’m looking to purchase an property from an auctioneer, but I’ve been told it is not mortgage able due to it being landlocked (no access rights).
The property adjacent on the same site has the main access rights, but is also a repossession. The auctioneer could possibly issue an indemnity insurance, but I believe a deeded easement would be better.
I was looking to purchase this via bridging finance then sell once refurbished, or switch to BTL mortgage, but proving difficult as lenders wont lend in the current state.
Has anyone had any issues like this and how was it resolved?
Is there anyway of putting the deeded easement in place before purchase?
Any suggestions would be much appreciated.
Thanks in advance.
Nikesh
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Member Since February 2011 - Comments: 3453 - Articles: 286
10:10 AM, 16th September 2015, About 11 years ago
Hi Nikesh,
Advice on this would I think need professional help and be above my pay grade.
If you have not already got a solicitor involved please see our BTL conveyancing partners under the legal tab >> http://buytoletconveyancing.co.uk/contact-us/