PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

loft not mentioned in lease

Options
2»

Comments

  • jvpari
    jvpari Posts: 118 Forumite
    Seventh Anniversary Combo Breaker
    propertyman wrote: »
    Of course the freeholder might be pleasantly surprised to get a cash sum for the space ( and the amendment to your lease as well as the cost of paying for his legal and professional fees to consent to the aterations to the loft and roof).



    True. I think I might ask how much they want for it and/or the freehold as converting it will undoubtedly be cheaper than a three-bedroom round here.
  • thequant
    thequant Posts: 1,220 Forumite
    jvpari wrote: »
    True. I think I might ask how much they want for it and/or the freehold as converting it will undoubtedly be cheaper than a three-bedroom round here.


    The usual is to expect to split the uplift evenly.


    I.e. work out how much it will increase the cost of your property and then divide by 2.
  • jvpari
    jvpari Posts: 118 Forumite
    Seventh Anniversary Combo Breaker
    thequant wrote: »
    The usual is to expect to split the uplift evenly.


    I.e. work out how much it will increase the cost of your property and then divide by 2.


    Thanks, that's good to know
  • ethank
    ethank Posts: 2,197 Forumite
    Holiday Haggler I've been Money Tipped!
    It's clear you cannot do it without consent. I would also not try to do it on the cheap either (no windows, and a ladder, no stairs) - it will make it very difficult to sell the property with the extra space and value - as it will not comply with building regs.
  • G_M
    G_M Posts: 51,977 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    jvpari wrote: »
    The loft isn't mentioned at all. And the plan shows the outline of our maisonette (aerial shot so outlines downstairs as well), both gardens and garage.
    1) what does the lease say? Give us a quote of the relevant part(s) and we can comment.

    :cry: :doh:
  • propertyman
    propertyman Posts: 2,922 Forumite
    thequant wrote: »
    Oh you might as well claim possession to the flat downstairs, the garden and the garage while your at it.

    Well no he has a point. With access he might claim possessory title and under section 62 LPA 1925.
    Stop! Think. Read the small print. Trust nothing and assume that it is your responsibility. That way it rarely goes wrong.
    Actively hunting down the person who invented the imaginary tenure, "share freehold";     if you can show me one I will produce my daughter's unicorn
  • propertyman
    propertyman Posts: 2,922 Forumite
    jvpari wrote: »
    I'm not sure how I gave the impression that I "can take it" but questioning what happens if it isn't mentioned in the lease at all. We have a hatch to it and our old water tank is up there so excuse me for being unsure!



    I am not saying don't try and do a deal or not take a chance, but don't read into a loft hatch as being any more than there to give access to the tank..................
    Stop! Think. Read the small print. Trust nothing and assume that it is your responsibility. That way it rarely goes wrong.
    Actively hunting down the person who invented the imaginary tenure, "share freehold";     if you can show me one I will produce my daughter's unicorn
  • propertyman
    propertyman Posts: 2,922 Forumite
    thequant wrote: »
    The usual is to expect to split the uplift evenly.


    I.e. work out how much it will increase the cost of your property and then divide by 2.

    Actually the request is usually

    uplift in value - (typical) cost of conversion

    and negotiate from there
    Stop! Think. Read the small print. Trust nothing and assume that it is your responsibility. That way it rarely goes wrong.
    Actively hunting down the person who invented the imaginary tenure, "share freehold";     if you can show me one I will produce my daughter's unicorn
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.8K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.5K Spending & Discounts
  • 243.8K Work, Benefits & Business
  • 598.7K Mortgages, Homes & Bills
  • 176.8K Life & Family
  • 257.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture