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Thomas
Thomas, Solicitor
Category: Property Law
Satisfied Customers: 7602
Experience:  UK solicitor holding an England and Wales practising Certificate.
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HI i am looking to purchase two two bed flats, ground floor

Customer Question

HI i am looking to purchase two two bed flats, ground floor and upper, the only problem is they are on one deed, what would be the estimated cost to change this to two deeds
Submitted: 4 years ago.
Category: Property Law
Expert:  Thomas replied 4 years ago.
Hi,

Is this a maisonette, or simply two flats in a block of other flats?

After purchase would carry out works to make the two effectively one (larger) flat?

What is the purpose of this?

Tom
Customer: replied 4 years ago.

Hi it is a terraced house that has been converted to two flats a few years ago, it has been rented ever since but is now a repossesion and be looking to purchase and then sell on as two seperates on two deeds


 

Expert:  Thomas replied 4 years ago.
Hi,

So are there no existing leases for either property?

Tom
Customer: replied 4 years ago.

Hi no it is empty and it is a freehold purchase with 99 yr lease

Expert:  Thomas replied 4 years ago.
Hi

Thanks for your patience.

I assume you mean that there is a one freehold title and one leasehold title in total.

Usually where there is one terraced property with two flats which are marketing for sale then you would have the following registered titles (ie. what people call “deeds”):
1. Freehold title
2. Leasehold title for one lease
3. Leasehold title for second lease.

If you wish to buy the freehold and the existing leasehold title so that you control the whole of the building and then market two flats for sale then how much it would cost would depend on whether a further lease in addition to the one that already exists is required to be drafted only OR whether it is better to surrender the current lease then grant two new identical leases (one for each flat).

The initial conveyancing I would expect to be the usual costs.

Drafting just one lease to mirror the existing one I would put in the region of £800 + VAT probably.

Surrendering the current lease and drafting/granting two new lease I would think you would be look at £1200+VAT.

Give or take, obviously..

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Kind regards,


Tom



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