Cost/risks of splitting house into two flats?

[Colin Mustard]

I want to convert a 4 bed mid-terrace house, into 2 self contained flats.
It already has 2 bathrooms & 2 kitchens.

What would be the likely cost, pitfalls, etc...in such a project?

I have Full Planning Permission Granted.

Any advice would be gratefully received

[jeffrey]

Are you keeping house in your ownership once converted? If not, or if you want to mortgage flats separately from each other, you will need to create lease of each flat. The lessor (person granting it) has to be different from the lessee (person to whom granted), eg if you and someone else own whole freehold at the moment, the two of you could grant both leases to just you alone if you're keeping flat and mortgaging it on its own..

[pdk]

Don't forget that you will either need planning permission OR a continuous 4 years in self contained flatted use to give you a lawful use (which can be confirmed by getting a Certificate of lawful Development.

Which side do you fall on???

PETER KYTE


NOTE: Peter Kyte BSC (Hons) DipTP MRTPI CGeog is an official LandlordZONE Topic Expert… For more information on Peter D Kyte Associates and Enabling Projects please see the websites at http://www.enablinguk.com and http://www.development-seekers.com. Any advice given by Peter Kyte in this Forum is of a general nature only and should not be taken to be a final and binding planning opinion. Based on any initial advice given you are strongly advised to seek a further professional opinion, which may involve a site visit and a detailed analysis of the issues... For information on the sort of work Peter undertakes please see TRACK RECORD (http://www.enablinguk.com/track.html), WORKING WITH INVESTORS (http://www.enablinguk.com/ur-property-investors-planning.html), and PROJECT TYPES (http://www.enablinguk.com/planning-project-permission-appeal-UK.html)...

[jeffrey]

Don't forget that you will either need planning permission OR a continuous 4 years in self contained flatted use to give you a lawful use (which can be confirmed by getting a Certificate of lawful Development.

Which side do you fall on???

PETER KYTE


NOTE: Peter Kyte BSC (Hons) DipTP MRTPI CGeog is an official LandlordZONE Topic Expert… For more information on Peter D Kyte Associates and Enabling Projects please see the websites at http://www.enablinguk.com and http://www.development-seekers.com. Any advice given by Peter Kyte in this Forum is of a general nature only and should not be taken to be a final and binding planning opinion. Based on any initial advice given you are strongly advised to seek a further professional opinion, which may involve a site visit and a detailed analysis of the issues... For information on the sort of work Peter undertakes please see TRACK RECORD (http://www.enablinguk.com/track.html), WORKING WITH INVESTORS (http://www.enablinguk.com/ur-property-investors-planning.html), and PROJECT TYPES (http://www.enablinguk.com/planning-project-permission-appeal-UK.html)...


If neither of Peter's items is available, get indemnity insurance policy before proceeding further.

[Colin Mustard]

Don't forget that you will either need planning permission OR a continuous 4 years in self contained flatted use to give you a lawful use (which can be confirmed by getting a Certificate of lawful Development.

Which side do you fall on???

PETER KYTE


NOTE: Peter Kyte BSC (Hons) DipTP MRTPI CGeog is an official LandlordZONE Topic Expert… For more information on Peter D Kyte Associates and Enabling Projects please see the websites at http://www.enablinguk.com and http://www.development-seekers.com. Any advice given by Peter Kyte in this Forum is of a general nature only and should not be taken to be a final and binding planning opinion. Based on any initial advice given you are strongly advised to seek a further professional opinion, which may involve a site visit and a detailed analysis of the issues... For information on the sort of work Peter undertakes please see TRACK RECORD (http://www.enablinguk.com/track.html), WORKING WITH INVESTORS (http://www.enablinguk.com/ur-property-investors-planning.html), and PROJECT TYPES (http://www.enablinguk.com/planning-project-permission-appeal-UK.html)...

I've got Planning Permission Granted...But I Just wanted to know, a rough guide on costs before getting hold of a builder? :confused:

Many Thanks

[mountie]

I assume the flats will be ground and first floor so the obvious considerations will be:
to provide separate access internally or externally;
to comply with noise and fire regulations (prevention and escape);
upgrades to fixtures and fittings.

Outlay for a basic conversion can be minimal but of couse it depends on the extent of work that is required.

[Colin Mustard]

Are you keeping house in your ownership once converted? If not, or if you want to mortgage flats separately from each other, you will need to create lease of each flat. The lessor (person granting it) has to be different from the lessee (person to whom granted), eg if you and someone else own whole freehold at the moment, the two of you could grant both leases to just you alone if you're keeping flat and mortgaging it on its own..

I own the property with my brother, and was hoping to draw up 2 leases and remortgage both out.

Also. How long does the process take? From start to finish (legal work). Before I can speak to lenders Re: Remortgage?

Many Thanks

[billmccallum]

Colin

The major issues you need to look at when pricing is the fact that the single house would need to be completly re-wired, new services (gas, elec, water) to the new flat, fireproofing & sound proofing.

When getting quotes, ask builders to provide a detailed breakdown of the works they would do and price each element individually, you don't want to get stuck with the usual "extras" invoice on top of the quoted price.

I run a project management company and have a share in a building company, we would be happy to provide a quote.

Bill McCallum
McCallum BDF Limited
07944 563135
01642 819399

[Colin Mustard]

I own the property with my brother, and was hoping to draw up 2 leases and remortgage both out.

Also. How long does the process take? From start to finish (legal work). Before I can speak to lenders Re: Remortgage?

Many Thanks

Anyone???? :o

[jeffrey]

Anyone???? :o

You can apply to lenders now. It's just that mge completion will have to dovetail with lease completion, as the two new leases will be the security for the advances.
Best to deal with the two aspects in parallel. Get your solicitor to commission lease plans now and to finalise lease wording ready for engrossments to be prepared and executed by lessor (leases) and lessee (counterparts).