London - Wanting to convert 1 bed flat to a 2 bed flat - Newbie

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    London - Wanting to convert 1 bed flat to a 2 bed flat - Newbie

    Looking at getting my second property. I'm after a 2 bed flat in London (as central as possible) but struggling to find one within budget.

    I've noticed a lot of 1 beds have the same floor space, if not more, yet they cost less.

    Could anyone offer some advice on the possibility of purchasing a 1 bed and being able to convert it to a 2 bed?
    Is it likely I'll be able to?
    Is it possible for me to know whether I can or not, before purchase or before having a solicitor look over the lease?
    Please let me know anything that you think is relevant.

    Scott

    #2
    You will need building control consent (it is unlikely that you can do it without having to consider fire safety, and you will need the consent of the freeholder, which is likely to cost around half the increase in value.

    Comment


      #3
      Remember, you buy the lease, not the flat.
      The freeholder issues leases, not you.

      The freeholder will evaluate the increase in value of yor flat and probably charge you 50% of the increased value.

      You are leaseing your flat, you cannot change it without freholder authorisation.
      As you are leaseing, you cannot make a profit for converting someone elses property.
      You lease, you have not bought the flat, you lease the flat.

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        #4
        Minimum floor standards are a key consideration and likely a reason you are seeing a commonality in floorspace. You should research into what they are.

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          #5
          It may be difficult to obtain the freeholder's consent for a conversion before you buy the lease. The reason that I say this is because until you buy the lease, the freeholder has no relationship with you and is not obliged to answer your queries - let alone grant you consent. You can certainly try to have this kind of discussion with the freeholder before you buy the lease. I think that you will still need a solicitor to review the lease first to ensure that it does not contain an absolute prohibition on alterations and also to advise you of anything else you might be expected to do as part of your consent for alteration application e.g. provide plans, pay the freeholder's professional and legal costs for considering the plans, etc.

          Comment


            #6
            Agree with above.
            You have no rights to have your proposal agreed by the freeholder before purchase.

            If you are able to secure entry before purchase, and send all your plans to freeholder, pay your solicitors and surveyors costs, the freeholder, after viewing your plans, can still charge you for his time, and can still reject your poposals.

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