For most homebuyers, property ownership feels simple. A house or flat is purchased, a single Land Registry title confirms ownership, and the mortgage sits neatly against it. But many investors, developers and even homeowners encounter situations where a property is not contained in one straightforward title. Instead, it may be split across multiple titles, or conversely, several properties may be held under a single title.
These arrangements create challenges for lenders. Mortgages are, at their core, secured lending. A lender wants clarity that its charge is enforceable, that its security can be sold if necessary, and that no unforeseen legal issues will undermine the value. When titles are fragmented or combined in unusual ways, those assurances are harder to obtain.
In practice, multiple titles arise more often than many realise. A block of flats may be split across individual leasehold titles while the freehold sits separately. A countryside estate may include farmland, a main residence and cottages, each on its own registration. Even semi-urban houses can be affected if gardens, garages or accessways have been registered separately.
Equally, investors sometimes buy several properties that sit together under one overarching freehold. From a portfolio perspective it may be efficient, but from a lender’s standpoint, it complicates valuations and legal enforcement.
A single, clean title provides certainty. The lender knows what it is charging, can value the asset easily, and has a straightforward enforcement route. Multiple titles introduce friction. Which parts of the property secure the loan? Are all titles included in the valuation? If a borrower defaults, can the lender sell each piece separately, or must it be dealt with as a package?
Conveyancers acting for lenders will probe these issues thoroughly. If even one title has restrictions, easements or covenants that undermine its value, it can delay or derail the mortgage. Investors who expect a bridging facility or term loan to be agreed quickly are often surprised at how long it takes to resolve these points.
Sometimes the complexity is intentional. Developers may acquire a property with a view to splitting the title—for example, converting a large house into several flats, or dividing land plots for resale. Title splitting can release significant value, but it almost always requires careful finance structuring.
Few mainstream lenders will advance against “future” titles that do not yet exist. Bridging finance, therefore, becomes a tool to carry the project until the new titles are registered and sales or refinances can be completed. As we explored in our article on development finance in 2025, lenders are now more demanding around planning, legal structure and valuation before they will fund these projects.
One of the most significant hurdles with multiple titles is valuation. Surveyors must assess whether to value the property as a whole or on a break-up basis. In some cases, the aggregate value of individual titles is higher than the whole. In others, the opposite is true because separate sales are less practical.
This ambiguity feeds directly into loan-to-value calculations. If an investor expects to borrow 70 per cent of the purchase price but the valuer takes a conservative approach to individual titles, the loan available may be tens of thousands less than expected. For auction or time-sensitive transactions, that shortfall can put completion at risk.
In 2025, lenders have diverged in their appetite for multi-title transactions. Some high street banks continue to avoid them altogether, citing operational complexity. Specialist and bridging lenders, however, often take a more pragmatic approach. They may advance against the strongest title only, or structure a loan across multiple titles with the help of experienced solicitors.
Private banks also play a role for high-value assets such as estates or prime central London mansion blocks. As with many private bank solutions, bespoke underwriting and personal relationship management allow them to take a view where mainstream lenders cannot. We covered similar dynamics in Private Bank Mortgages Explained.
The most common problems borrowers encounter with multi-title properties are delays, valuation surprises and unexpected restrictions. Titles may have rights of way, overage clauses or covenants that significantly alter value. In some cases, lenders refuse to proceed until titles are merged or split differently, a process that itself requires Land Registry applications and legal work.
Another risk is in the exit strategy. If a borrower secures a bridging loan against multiple titles, but plans to refinance onto a mainstream buy-to-let product, the lender may later refuse unless the property is tidied up into a single mortgageable unit. This is why mapping the finance journey from acquisition through to long-term hold or sale is essential.
Recently, we assisted a client purchasing an investment block where the freehold and six individual flats were all held under separate titles. The auction particulars suggested the portfolio could be mortgaged easily. In reality, most mainstream lenders balked at the complexity. By working with a specialist bridging lender, we secured initial finance over the freehold and the flats collectively, then planned a staged refinance as the titles were rationalised.
Without that structure, the client would have faced completion failure and financial loss. Instead, they achieved a smooth transition to long-term finance once the titles were consolidated.
Complex title structures are rarely a reason to abandon a purchase. They can represent significant opportunity, particularly where other buyers are deterred. But they require forward planning, the right lender relationships and an adviser who can foresee obstacles. At Willow Private Finance, we specialise in navigating these complexities. From initial bridging to final refinance, we ensure that every stage of the process is mapped with lender requirements in mind.
At Willow, we engage with lenders and solicitors early to identify potential problems in title arrangements. We anticipate valuation methodology, negotiate lender comfort around fragmented ownership, and line up exit strategies that take account of how titles will evolve. Whether you are splitting a property for resale, acquiring a multi-title estate, or consolidating holdings into a single mortgageable unit, we ensure your finance path is resilient.
Book a free strategy call with one of our mortgage specialists.
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About the Author – Wesley Ranger
Expert. Strategist. Leader.
Wesley Ranger is the Director and Founder of Willow Private Finance. With over 20 years’ experience in property finance, he leads a team of specialist advisers who thrive on structuring solutions where others struggle. Wesley’s expertise spans private banking, development finance, and complex international lending, making Willow a trusted partner for clients ranging from first-time investors to high-net-worth families and developers.
Important Notice
This article is for information only and does not constitute financial advice. Property finance is subject to status, valuation and lender criteria. The value of property investments and the income from them can go down as well as up. Independent advice tailored to your circumstances should always be sought before acting.
