Cant sell my flat due to being under 30sqm

[Deleted User]

AdrianC said:

Owleyes00 said:

Don’t know if this is at all helpful but I did a Rightmove search for “studio flat” in “London” and have found at least 6 others less than 30sm among the first 12 results alone. One is as weeny as 16sm and is up for £300,000!

And is in an upmarket serviced apartment building on Sloane Avenue, Chelsea.
https://www.rightmove.co.uk/properties/88591951#/
https://chelseacloisters.co.uk/

Not exactly your typical stretch-to-be-FTB property... More like a pocket-change pied-a-terre...

It's Chelsea Cloisters, though!   Those are 'working' flats, if you get my drift.   Often featured in the red top papers.

https://www.independent.co.uk/news/uk/politics/conservative-donor-prostitutes-profit-theresa-may-chelsea-cloisters-a8650761.html

AdrianC

Poster_586329 said:

AdrianC said:

Owleyes00 said:

Don’t know if this is at all helpful but I did a Rightmove search for “studio flat” in “London” and have found at least 6 others less than 30sm among the first 12 results alone. One is as weeny as 16sm and is up for £300,000!

And is in an upmarket serviced apartment building on Sloane Avenue, Chelsea.
https://www.rightmove.co.uk/properties/88591951#/
https://chelseacloisters.co.uk/

Not exactly your typical stretch-to-be-FTB property... More like a pocket-change pied-a-terre...

It's Chelsea Cloisters, though!   Those are 'working' flats, if you get my drift.   Often featured in the red top papers 

"serviced"...?

[Deleted User]

Could OP offer his flat for sale to a neighbour to knock through into one unit?

deannagone

I'm not sure where this attitude is coming from.., I remember when I was 18 and living in London, studio flats existed then as a buying option for the young single person, they exist now.  I remember some purpose built studio flats in Birmingham near where I grew up.  The residents were proud of them, and definitely not as described above. 

They were just a way to get on the property ladder.  The market is limited as they don't suit everyone but they are an option.  26m2 means a main living space of around 4x5m if you include a seperate shower area.  That's bigger than many lounges for sure and with high beds, good design can allow someone to have a life who wants to live independently.  

Living in a house now, I wouldn't choose that lifestyle, but for a young person living in London, it might be more appealing.

Soot2006

I agree that the size itself might not be all that limited. As you said yourself, some lenders are willing to lend. So you need to make a buyer want it enough to jump through a few hoops to get it.  A useful, well-designed small space for the right price can be a very attractive options for a FTB or someone who lives out of city who'd like a weekday space of their own rather than lodgings.

[Deleted User]

Really depends on location, though!  Definitely a market for 30sqm in zone 1, SW London.  

Leeannero1

AdrianC said:

26m2 is, honestly, tiny. Would you be so kind as to show us the floorplan?

TBH, I'm surprised you got a mortgage in 2019.

This is the 2015 "Nationally Described Space Standard". It's not legally binding, but as government guidance, it is a very strong suggestion as to minimum spaces in properties.
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/524531/160519_Nationally_Described_Space_Standard____Final_Web_version.pdf

Also...
https://www.designingbuildings.co.uk/wiki/Minimum_space_standards

For a single person, one bedroom - 37m2. That's not just a little bigger than yours, it's over 40% bigger.
For two people, 50m2. Damn near double yours.

Thank you so much for the links, I may look into this and see who is liable if I now cant sell. 

davidmcn

Leeannero1 said:

AdrianC said:

26m2 is, honestly, tiny. Would you be so kind as to show us the floorplan?

TBH, I'm surprised you got a mortgage in 2019.

This is the 2015 "Nationally Described Space Standard". It's not legally binding, but as government guidance, it is a very strong suggestion as to minimum spaces in properties.
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/524531/160519_Nationally_Described_Space_Standard____Final_Web_version.pdf

Also...
https://www.designingbuildings.co.uk/wiki/Minimum_space_standards

For a single person, one bedroom - 37m2. That's not just a little bigger than yours, it's over 40% bigger.
For two people, 50m2. Damn near double yours.

Thank you so much for the links, I may look into this and see who is liable if I now cant sell. 

I can't see why anybody else would be liable.

Leeannero1

davidmcn said:

Leeannero1 said:

AdrianC said:

26m2 is, honestly, tiny. Would you be so kind as to show us the floorplan?

TBH, I'm surprised you got a mortgage in 2019.

This is the 2015 "Nationally Described Space Standard". It's not legally binding, but as government guidance, it is a very strong suggestion as to minimum spaces in properties.
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/524531/160519_Nationally_Described_Space_Standard____Final_Web_version.pdf

Also...
https://www.designingbuildings.co.uk/wiki/Minimum_space_standards

For a single person, one bedroom - 37m2. That's not just a little bigger than yours, it's over 40% bigger.
For two people, 50m2. Damn near double yours.

Thank you so much for the links, I may look into this and see who is liable if I now cant sell. 

I can't see why anybody else would be liable.

I don't know if anyone is, but surely I should have not been able to get a mortgage on an unmorgageable property. a solicitor or someone should have picked up on this? 

davidmcn

Leeannero1 said:

davidmcn said:

Leeannero1 said:

AdrianC said:

26m2 is, honestly, tiny. Would you be so kind as to show us the floorplan?

TBH, I'm surprised you got a mortgage in 2019.

This is the 2015 "Nationally Described Space Standard". It's not legally binding, but as government guidance, it is a very strong suggestion as to minimum spaces in properties.
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/524531/160519_Nationally_Described_Space_Standard____Final_Web_version.pdf

Also...
https://www.designingbuildings.co.uk/wiki/Minimum_space_standards

For a single person, one bedroom - 37m2. That's not just a little bigger than yours, it's over 40% bigger.
For two people, 50m2. Damn near double yours.

Thank you so much for the links, I may look into this and see who is liable if I now cant sell. 

I can't see why anybody else would be liable.

I don't know if anyone is, but surely I should have not been able to get a mortgage on an unmorgageable property. a solicitor or someone should have picked up on this? 

It was (obviously) mortgageable at the time. Nobody could know what current mortgage criteria would be.