Mortgage with a sitting tenant

[jeraldo]

Hi

I am in a reasonably healthy financial situation with only a few hundred pounds owing on my mortgage. I am aged 54 and want to move to Scotland where the house I am looking at has a tenanted cottage in the grounds occupied for life by a woman in her 90s and paying no rent. I have an offset mortgage which I have kept for just this sort of occasion and want to use it to finance the move and have some money for the renovations for the property which will cost many thousands of pounds.

However, my bank won't agree to transfer my mortgage to a property where there is a sitting tenant in case they have to repossess (unlikely!) and then effectively become landlords.

Does anyone know where and what type of mortgage I could get to finance this and what companies might tolerate the tenant in the separate property?

Any suggestions gratefully received!

Jeraldo

[buildersmate]

Can you divide the land into 2 plots, then just take the mortgage on the one you will live in, buying the other for cash?
Don't know anything about the Land Registry issues in Scotland, I'm afraid.

[jeraldo]

No - can't divide it. It comes as one package!

[jeraldo]

Thanks for this information - good idea. Will explore that as a possibility!

[buildersmate]

Certainly creative, but there's nothing in it for the tenant to do that. Unless.........