Pay Share of Freeholder to do loft conversion

greenpanda

We are looking at buying a top floor flat with the idea to do a loft conversion to add an extra bedroom. I've seen a few places online people mentioning a payment to the other freeholder - does this happen in practice? How much should we expect to pay? We can afford to do the conversion with some wiggle room, but can't be paying 10s of 1000s. 

dimbo61

This depends on the top floor flat you are buying.
Why do you think you can " buy the loft space and convert to extra bedroom/bathroom space "
Don't you think the original developer will have considered this ?
Selling a 1/2 bed flat or selling a duplex apartment with a downstairs and upstairs !
Getting leaseholder permission or planning may not be simple.
You also have the issues of Fire safety and cladding.

Slithery

Does the lease for this 'top floor flat' include the roof space?

NameUnavailable

A lot of freeholders are selling roofspace, developers can purchase the space and build additional flats on top of existing blocks. The relevant authorities are encouraging it with more relaxed planning regulations.

Just because you have a top floor flat you don't always have the right to use the loft space other than for access for maintenance. It depends on what your lease states.

greatcrested

Look at the lease. Does it include the attic roofspace?

If yes, does the lease allow you to do structural changes? With/without the freeholder's consent?

If no, will the freeholder sell you a lease for the roofspace? He might if you pay him, probably for 50% of the increase in value of your flat that the extra bedroom would provide.

eddddy

In the title, you say "Pay Share of Freeholder to do loft conversion" ... so is it a 'Share of Freehold' property?

It's potentially quite a complex question. You might need planning consent, and you'll probably need building regs sign-off.

The key things to find out are:

1. Is the roof space included in your lease (often it's not)
2. Is the roof itself included in your lease (usually it's not, except with some maisonette leases)

If the roof space and roof are included in your lease, it might be easier. You might need consent from the freeholder(s), but it probably can't be withheld unreasonably.

If the roof space isn't included in the lease, you'll need to buy it from the freeholder(s). That will be a whole new negotiation. They don't have to sell it, and they can ask for any price they choose.

It's up to you whether you try to resolve this before purchasing (and maybe walk away if loft conversion won't be achievable), or whether you purchase and then try to resolve it afterwards (and maybe find that loft conversion isn't achievable.)

greenpanda

Thanks for replies. I think we will make an offer conditional on what is included in the lease. I asked the estate agent and I don't think that they know. 

We will definitely try and resolving before purchasing as it wouldnt suit us if we can't so it.

NameUnavailable

greenpanda said:

Thanks for replies. I think we will make an offer conditional on what is included in the lease. I asked the estate agent and I don't think that they know. 

We will definitely try and resolving before purchasing as it wouldnt suit us if we can't so it.

The EA won't know. They don't see or read leases. You need to get a copy of the lease and read it yourself and get your solicitor to advise you if you're uncertain of anything.