Add Space to your London Flat
We are seeing an enormous increase in interest from Londoners who live in flats and purpose-built Maisonettes, who want to turn their loft spaces into an extra bedroom, bathroom or office, at the same time boosting the value of their flat. A loft conversion in a flat is the most effective method of gaining that extra space, but be aware of the legal issues or complications that may arise.
What exactly does 'share of freehold' mean when it comes to owning a Flat?
Most Estate agents in London do a fantastic job of selling a flat at a higher price that comes with a share of freehold; however, they do not explain to you all the pitfalls regarding decision-making or control of the property. Even if you have a share of freehold, you'll still require the permission from other freeholders before converting the loft.
The landlord's consent.
The majority of leases allow for minor modifications to be made within the flat, but prohibit any significant structural changes without the owner's approval. The freeholder is under no obligation to give consent, but would have an interest in preserving the structure of the flat, and the loft conversion could affect this. So, they'd first need to perform their due diligence of the drawings for your loft conversion and structural calculations using their third-party surveyor.
The Ownership of the Loft
It's fair to say that the majority of leases don't mention the loft as being part of the flat, so you are not entitled to use it, not even to store the suitcases, let alone to convert it into a loft. The first step is to understand that you'll have to purchase the rights to the loft area from the property's freeholder. The freeholder is likely to recognise the importance that the loft space holds for you and will request fair compensation. The freeholder isn't under any obligation to sell, but, like in most cases, they will. All in all, that's why they're involved in freeholding.
Airspace ownership above Flats
Did you know that the airspace above and around your flat's roof might not even belong to you? You need to seek permission from the freeholder if you intend to undertake a dormer loft conversion. Even if your lease mentions ownership of the loft, it may not refer to the ownership of the airspace around the loft area. This is not a deterrent to converting your loft; it's just something to be wary of. The above issue does not apply to velux/roof light loft conversion.
Roof maintenance in Flats
It is normal for the responsibility for maintaining the flat's roof to be split between the leasees. If you are undertaking a loft conversion in your flat, you must seek the freeholder's permission before starting any work on the roof. You will take full responsibility for the roof maintenance in the future, and this will be reflected on the insurance and lease amendment.
Insurance
A loft conversion in a flat will increase the property's footprint. With this in mind, the freeholder will take this consideration into the annual insurance premium, where say your flat may have occupied 25% of the whole footprint earlier and now after the loft conversion a new premium will be calculated in line with the size of your flat.
Interference with other building services.
In many flats, the loft area usually holds the communal cold water storage cistern serving several flats. Moreover, flats with central heating are often served by a feed and expansion tank, which is more likely to be situated in the loft area. The other flat owners will also need access to these services for maintenance, so you should keep this in mind and check with your freeholder about any limitations within the loft development.
Converting a flat in the Loft can sound like a daunting and long-winded process, but our team is on hand to help and guide you from the start to the completion. As one of London's Top Loft Conversion companies, we have unparalleled experience and are dedicated to our work, allowing our clients to convert their lofts legally and safely.
