Can landlords take advantage of new Permitted Develop...

Landlords are being invited to a free webinar that promises to bring them up to date with the new planning regime that has applied to England since earlier this month.

The webinar will feature Martin Gaine, a chartered town planner and the author of How To Get Planning Permission: An Insider’s Secrets.

He will be telling landlords of his top tips on how to get planning permission generally and taking listeners through the government’s new Permitted Development Rights.

The free event is this Friday, August 27, at 10.00am.

The new PDR regime came in on August 1 and aims to make it much easier to convert retail and other commercial outlets in England’s high streets into affordable homes. The new homes will be delivered through a simpler ‘prior approval’ process instead of a full planning application.

PDRs will also offer landlords the opportunity to add space and value to their existing properties.

For example, landlords may be able to add additional storeys to flats or houses, or add living accommodation over existing commercial property. But neighbours or existing tenants do still have a voice if the development will affect their light or cause unnecessary disruption.

The event is run by buy to let mortgage brokerage Property Master.

Its chief executive Angus Stewart says: “Permitted Development Rights will create opportunities for landlords wanting to increase their portfolio. Conversions such as those that will come out of PDR may be more problematic for lenders, but it is far from impossible to obtain the finance. There are specialist lenders in the market willing to write this kind of business.”

He continues: “Finance will stand or fall on the valuation the lender obtains. This means the quality of the conversion is very important. This will take some thought as commercial premises such as shops and offices were not designed to be lived in.

"Landlords should, for example, check the quality of the internal walls that will have been installed; think about noise protection; and how false floors that may once have housed cable have been dealt with. If the changed to the building are very extensive then some lenders may see it as a new build which limits the Loan to Value they may be prepared to accept.”

You can register here and post questions in advance by emailing info@property-master.com.

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