Many properties in London have freeholders and leaseholders especially in shared buildings such as blocks of flats. This is something to take into consideration when planning a loft conversion in your London home. The freeholder will have the final say on any structural changes to the property such as a loft conversion, so you should always contact them before going ahead with any work.
Freeholders are the outright owners of the property and the land it is built on. The freehold is in place indefinitely or until the freeholder decides to sell the lease. Most houses in the UK are freehold but leaseholders are more common to London.
Leaseholders own the property for a fixed amount of time and where the freeholder has given permission by granting a lease that can be taken up by another party. Most flats in London are purchased on a leasehold basis, however the lease may run for up to 125 years.
It's vital that you check with your freeholder before progressing with your loft conversion. It's often the case that leaseholders do not know who their freeholder is or how to contact them. This information can be obtained through The UK Land Registry website where you will need to search for the Title Register, not Title Plan.
At Landmark Lofts, we are qualified to advise you on extending a lease or purchasing a freehold and we would be happy to ease any concerns you may have. Please contact us for further information.