reduction in market value of a flat if loft is not included?

propertyman

That there is loft access is not to be taken as giving access not can you assume that you can then use it. it might be there solely for accessing long removed tv aerials or tanks, or even put in there by a prior owner without the landlords knowledge or consent.

If the loft is not within the demise and no rights to access or use the loft exist in the lease, then you cant lawfully use it or sell that onto your future buyer.

The best that you can hope for is that your vendor and prior vendors can over a period of years assert that they have by use acquired a right to do use if for say storage.

It is likely that loft storage does add something to the value and it is a question of how much in your case, using local comparables or a valuers expert opinion. Popping away a few boxes is worth not a lot but a fully boarded loft another matter entirely.

leanne2901

egoode wrote: »

There is still a possibility of you building into the loft but you would have to negotiate with the freeholder to buy the leasehold to the loft space and they will also have to approve your plans to convert it.

Yes I am hoping this might be a possibility as it would be a lot easier than hassle of moving (especially if it is going to take another 7 months!) ha ha!! Another property that the freeholder owns in the same road has a loft conversion so I think once we are in and settled I may pay them a visit and find out how they did it! :j

user1168934

Just to give you all an update:

I have decided to bite the bullet and continue with the sale on the same price. The alternative is to find another property and go through the same blessed process which will take at least a couple of months ......... and keep losing money in rent during this period.