📣Southwark Council are planning to BAN LOFT CONVERSIONS on Victorian properties📣

[malumbu]

Property has been for a long time a good way to invest.  When interest rates are low, even more so, as returns can be better than banks and the financial markets, and money is cheap to borrow.

Some people are fortunate to come from money.  Some are successful at work.  Many of us inherit from parents or other relatives.

Governments do take action from time to time.  Mortgage tax relief, tax relief on landlords, inheritance tax and gifting (waiting Starmer) and stamp duty.  The UK has also been historically a good place for overseas investors, including laundering dirty money.

Over our lifetime most of us have seen is the widening gap between property owners and those unlikely to get on the housing ladder.  Owning multiple properties has made this more stark.

Family stayed in private accommodation in big university cities where we did when we were students.  Except the four bedroom houses are now seven.

You could argue that increasing multi tenant properties could help the housing shortage, even if this does benefit a few already well off landlords.

Of course it could all collapse again.  But unless Trump trashes global economies would always pick up.

Personal interest? I once put an offer on a one bed flat with the thought of adding an upstairs bedroom, modest and a skylight which was permitted development in those days and not a major project.  But ironically the current owners decided to stay and do this.  

That was a long time ago.

[Pugwash]

Our neighbours did this- was a one bedroom upper floor flat and they extended into the roof/loft. No problems at all during construction and since completion. Southwark as landlords approved of the construction. Just heard of a half house with 2 bedroom locally which is up for sale at just under £900.000  It makes far more economical sense, where viable, to spend some £30 - £40K on a conversion

[sebastiondangerfield]

More Like 70K. For a loft conversion. 

[Azalea]

1 hour ago, Pugwash said:

Our neighbours did this- was a one bedroom upper floor flat and they extended into the roof/loft. No problems at all during construction and since completion. Southwark as landlords approved of the construction. Just heard of a half house with 2 bedroom locally which is up for sale at just under £900.000  It makes far more economical sense, where viable, to spend some £30 - £40K on a conversion

Southwark must be freeholders, not landlords?  

[TinkerbellB]

To me, it seems the survey asks questions about ease of understanding of the SPD rather than consulting the public on opinions on the content...

What's the best way of objecting to this change in guidelines? Anyone who has been to any of the consultation events and can provide an update on this?

[CPR Dave]

Perhaps by putting some comments in there along the lines of your objections.

"The document is unclear because it doesn't specifically state that this is a change on policy by the council, effectively banning new loft conversions in the face of statutory permitted development rights.

The document should state this clealry in large bold font and highlight how unfair that is and that it is likely to lead to judicial review."

 

I don't know if any of the above is actually correct though.

[Pugwash]

More Like 70K. For a loft conversion

Our neighbours did not pay this.  Previous neighbours had wanted to do this but Southwark were taking so long at approving their application, they decided to look for another property. This was 2/3 years ago and it was costing around £35K. They ended up paying £40k more to secure a 3 bed property in Lewisham. Delay by Southwark was due to covid/working from home by planning officers.

[first mate]

Given the government's stated desire to create more housing and general loosening of planning laws, this seems very contrary of Southwark.

[johnniebravo]

Has there been any update on this?

I'm about to buy a mid-terrace victorian house in east dulwich on the idea I can convert the loft (as other houses in the street have done this). It's not in a conservation area, but believe I'll need to go through planning as due to its size, it won't be immediately permitted.