Property with 1 bed per planning marketed as 2 bed

R

Robbie Smith

New Member
We are in the process of purchasing a 2 bed flat in Islington which has recently been developed from a previous single occupancy building. However when looking at the planning permission for the development of the 3 flats, the flat we are purchasing is shown as a 1 bed with the second bedroom as a separate dining room. The property is only 55 sqm in size which per the Islington development plan is below the size for a new 2 bed flat. Will this cause issues for mortgaging or reselling in the future? We’re the agents allowed to market this as a 2 bed? Thanks in advance for any responses.
 
F

FWL

Member
If it did not adhere to size regulations then I do not see how it could be classed as a 2 bedroom flat? It may well cause issues with mortgage finance in the future - check with your solicitor.
 
P

PostBrexitInvestor

Member
One issue which would scare me is if you decided to sell in the future. Imagine if someone found the info re:room sizes, etc and it was deemed you could not market it as a 2 bedroom property. That would surely have a serious impact on the value?
 
R

realdeals

Active Member
My first action would be to go back to the agent and clarify the situation regarding the bedroom number classification. Tell them of your concerns and get something written down on paper.
 
L

Longterminvestor

Administrator
I am a little surprised this was not picked up before you signed the deal?
 
Top