Loft conversion (property changing from free hold to share of freehold)

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    Loft conversion (property changing from free hold to share of freehold)

    Hi,

    I have had an offer accepted on a upstairs flat. The current owner of the flat owns the free hold of the property but is currently converting the ownership to a share of the free hold. I have bought the property on the condition that I can convert the loft into additional living space which will need to include a mansard conversion to the existing roof.
    The owner has agreed to this, my question is, what should i denote in the lease agreement to exempt me from any possible charges from the shared freeholder when the conversion is done. I have currently asked for it to be clearly marked in the lease agreement that we have complete control of the roof and loft space (i assume this would include all upkeep on the roof?), is there anything else i am missing?

    Thank you

    #2
    You will need a Deed of Variation to the lease showing that the loft belongs to you and that you have permission to convert the loft into living space, to include a mansard subject to planning permission and building regulations.

    Comment


      #3
      You need to look at the lease very carefully to determine what, if any, rights the owners of the other flats may have to utilise the roof space.

      The owner of the flat you are purchasing (as a potential joint freeholder of the entire property) and leaseholder of one flat may not necessarily have full authority to sign a valid Deed of Variation.

      For example the lease of our ground floor flat enables use of the roof space e.g. the right to have water tanks and television aerials in the loft space but we are prepared to negotiate ending those rights if the owner of the first floor flat pays an appropriate amount of money. Are you certain that you will be able to obtain planning and building regulation approval for your proposed conversion and is there any history of refused applications (there is on our property)? Won't be much use having consents on the deeds if you cannot make a successful planning application!

      Good luck!
      Vic - wicked landlord
      Any advice or suggestions given in my posts are intended for guidance only and not a substitute for completing full searches on this forum, having regard to the advice of others, or seeking appropriate professional opinion.
      Without Plain English Codes of Practice and easy to complete Prescribed Forms the current law is too complex and is thus neither fair to good tenants nor good landlords.

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