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Demise of loft advice needed please.

Chell5544
Posts: 3 Newbie
Hi all,
We are nearly at the end of buying the freehold with our downstairs neighbour.
A price has been negotiated with the freeholder and the breakdown of cost has an attachment of extra money to buy the demise of the loft in our (upstairs) section.
The demise of the loft isn't stated in our lease. We were happy to pay the extra for the loft space as the only access to the loft is through our flat.
However we have just been informed that downstairs will still have 50 percent of the loft space.
What can we do about this as we believe it is unfair to pay 100 percent of the loft but will still need to ask/gain permission to use this space.
I will note that our valuator and solicitor both advise both parties to split the overall cost 50/50 as there is no difference in the rest of premium between two flats. However downstairs neighbours are refusing to pay half of the loft space.
Thanks in advance
We are nearly at the end of buying the freehold with our downstairs neighbour.
A price has been negotiated with the freeholder and the breakdown of cost has an attachment of extra money to buy the demise of the loft in our (upstairs) section.
The demise of the loft isn't stated in our lease. We were happy to pay the extra for the loft space as the only access to the loft is through our flat.
However we have just been informed that downstairs will still have 50 percent of the loft space.
What can we do about this as we believe it is unfair to pay 100 percent of the loft but will still need to ask/gain permission to use this space.
I will note that our valuator and solicitor both advise both parties to split the overall cost 50/50 as there is no difference in the rest of premium between two flats. However downstairs neighbours are refusing to pay half of the loft space.
Thanks in advance
0
Comments
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Downstairs cant have it both ways.
Either 50:50 for all costs and the loft remains within the freehold, or,
you pay for 100% of the loft cost with the agreement that it is added to your lease for your sole use.0 -
You are buying the freehold between you so who has introduced this extra sum for the loft?
Unless the loft could be developed into a 3rd dwelling I cannot see how it has any value to the freeholder.
You need to agree with your downstairs neighbour that on completion of the freehold purchase your lease demise will be extended to include the loft. If you plan to convert the loft into a room and make holes in the roof for windows or a dormer make sure you cover that permission as well because the rafters/tiling part of the roof would still normally form part of the freehold.
If your neighbour agrees then it would be fair for you to pay a higher %age of the freehold price.0 -
You don't own the loft now. If you want to buy it, its fair that you should pay the value of the loft to the freeholder. if you are 50% of the freeholder, then the correct outcome if that you pay 50% of the value of the loft to the other owner of the freehold. The access point is irrelevant.0
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Can you not negotiate with your neighbour an additional cost that transfers 100% usage of the loft to yourselfs and have the freehold ammended to that fact?,Fully paid up member of the ignore button club.If it walks like a Duck, quacks like a Duck, it's a Duck.0
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you don't amend a freehold
the way to document this, is for the freeholder to grant you a lease of the loft
as to how its paid for, i have covered this in my earlier post
if you're looking to get the loft for nothing, then perhaps you could offer to take on all future responsibility for roof maintenance which otherwise is probably a shared lease cost.0 -
You are buying the freehold between you so who has introduced this extra sum for the loft?
Unless the loft could be developed into a 3rd dwelling I cannot see how it has any value to the freeholder.
You need to agree with your downstairs neighbour that on completion of the freehold purchase your lease demise will be extended to include the loft. If you plan to convert the loft into a room and make holes in the roof for windows or a dormer make sure you cover that permission as well because the rafters/tiling part of the roof would still normally form part of the freehold.
If your neighbour agrees then it would be fair for you to pay a higher %age of the freehold price.
The extra cost has come from the negotiations between our valuator and the freeholders valuator.
It's has been labelled as the 'demise to the loft space'
Our solicitor has informed us that it is part of the freehold and in order for us (upstairs) to have 100 percent we will need to wait until after completion to then write up a new lease for the loft space which will cost at least £1000.
We are not planning on building into the loft we just don't want to be paying 100 percent of something where we will only have 50 percent rights too and if potential new buyer's want to build they would have to compensate the other freeholder.0 -
SmashedAvacado wrote: »You don't own the loft now. If you want to buy it, its fair that you should pay the value of the loft to the freeholder. if you are 50% of the freeholder, then the correct outcome if that you pay 50% of the value of the loft to the other owner of the freehold. The access point is irrelevant.
We are the lease holders and have no problems paying the money to the freeholder. The problem is the other lease holder believes we should foot the whole bill even though they would still own half of it.0 -
We are the lease holders and have no problems paying the money to the freeholder. The problem is the other lease holder believes we should foot the whole bill even though they would still own half of it.
What is the length of your current leases and ground rents?0
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