Homeowners intending to build back-garden cabins are cautioned against seeking mortgages, as lenders only finance 'immovable' properties. This raises legal queries about ownership and highlights financial concerns related to potential break-up issues of property ownership. Alternative financing methods, such as personal loans with higher repayments, without the backing of the main home, are suggested for funding these structures, despite the expenses involved. This situation encourages property owners to consider the implications of adding temporary extensions carefully.
Homeowners planning to install back-garden cabins are being told they won't get a mortgage for the temporary extension, raising concerns about ownership and financing.
Caution over legal questions about who will end up owning the separate modular home is prompting homeowners to reconsider the implications of such constructions.
Mortgages can only be taken out on an 'immovable' property and not a temporary structure, pushing homeowners to explore alternative financing options.
Personal loans, while having higher repayments and not secured on the main home, serve as a potential solution for financing back-garden cabins.
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