Larger scale works such as a rear extension, loft or basement conversion will almost certainly require Landlord’s consent and may also have to involve further investigations from a development valuation perspective, if consent can be withheld and a premium payable. The following are further examples of works that are likely to require Landlord’s consent:
Typically requested information would be architectural and engineering drawings, engineering calculations, insurance documents, health & safety and Construction (Design and Management) Regulations 2015 (CDM). The list of required information will vary from case to case, but will usually be much less onerous than for works on commercial premises.
One interesting query that is often raised is “do I need a party wall award with my freeholder?” Whilst a freeholder can insist on a notice and resulting award, the LTA that is produced for the freeholder will cover many of the same items and possibly go into a touch more detail. It should also be pointed out that when compared with a commercial LTA, a residential one can often be relatively simple, and the number of hours involvement from solicitors and surveyors kept to a minimum.
Of all taxes, Stamp Duty Land Tax (SDLT) is one of the more debatable (and liked) as it significantly slows the pace at which the housing market can operate. It is particularly restrictive on first-time buyers who make a significant contribution to a functioning market. Less first time buyers, less second-time buyers to buy ... Read More >>
One of the most common reasons for leaseholders wanting to extend their leases is the need to sell. A property's value decreases along with the lease, with a 70-year lease worth around 90% of a 100-year lease, whilst a 60-year lease is more like 80%. The basic mathematics of the lease extension process means that the cost of ... Read More >>
It has been 100 days since Boris Johnson announced in a televised address, that the UK was to go into lockdown. At the time, Peter Barry Surveyors were quick to act and implement working practices that protected our clients and our staff with the wider scope for desktop studies for lease extensions and freehold acquisitions ... Read More >>