Hi,
Just wondering if anyone could kindly shed some light on a flat loft/freehold issue.
We have a share of freehold, but converted our loft (only accessible by us) without written (though verbal) permission from other freeholders.
They now say we owe them a 'premium' as it appears the loft does belong to all freeholders in the lease. (We got poor legal advice at the time.)
Does this sound right, and does anyone know how much we might owe them for this 'premium' - ie to pay them for us profiting from the loft. (It's put a second bedroom and tiny office in).
Is it worked out as the difference between the value of the property without the loft conversion, versus the value of the property if that loft conversion hadn't been done, minus all the costs we incurred to create the loft?
Is that right? And are costs worked out as of now, or as of when the work was done (a few years ago).
Any help or thoughts much appreciated. Thanks!