What is a maisonette?

What is a maisonette?

‘Maisonette’ means ‘little house’ in French. That is exactly what a maisonette is – a self-contained home, usually over two floors, that sits within a larger property but with its own separate entrance.

Is a maisonette a flat or a house?

A maisonette is neither a flat nor a house. Unlike a house, a maisonette is part of a larger building – often in an old, large property or above a commercial property. Unlike a flat, a maisonette is usually spread across two floors and will always have its own entrance.

How much does a maisonette cost?

As with any property type, the cost of a maisonette will depend on its size, condition, and geographic location. Maisonettes will often be around the same price point as flats but offer the benefit of having your own front door.

What are the pros and cons of buying a maisonette?

If you’re considering buying a maisonette, you’ll want to consider the pros and cons.

Advantages of buying a maisonette:

• Having your own front door means that maisonettes offer more privacy than a flat
• Maisonettes are often more spacious than flats
• Ground floor maisonettes often come with a private garden
• Cheaper than a house
• Few or no shared spaces make maintenance issues less complicated than they often are with flat ownership, and can reduce the amount payable in service and maintenance charges

Disadvantages of buying a maisonette:

• Maisonettes are less common than flats and houses, so they may not come up for sale in your local area very frequently
• Maisonettes are often leasehold properties – potential buyers will need to be aware of the impact of a declining lease on the maisonette’s value and saleability
• Maisonette owners may have the same noise concerns as flat owners
• People are generally less familiar with the concept of a maisonette than they are with flats and houses, so demand when you come to re-sell may be limited

Mortgages for maisonettes

It should be no more difficult to get a maisonette mortgage than any other type of property mortgage, as long as the maisonette meets the following criteria:

• The property is in good condition and is well-maintained
• The maisonette has share of freehold or a long lease remaining (if the property is leasehold)
• There is clarity around legal obligations, property boundaries and maintenance responsibilities
• There are no leasehold issues (eg. short lease)
• The property is of standard construction

Getting a mortgage may be a little less straightforward if the maisonette is above a commercial property (mortgage lenders will consider the impact of the business on future value) or if the property has a short lease.

Are maisonettes leasehold or freehold?

Most maisonettes will be leasehold properties, but some may have a share of freehold or the option of buying the freehold. If you’re keen to explore buying the freehold of a maisonette, you can ask the selling agent to gather information on this before making an offer.

Because of the nature of maisonettes (where one building is split into multiple properties), leasehold is common. There are some things to consider when deciding whether to buy a leasehold property.

When the property was built, the lease would have started. Leases can be of various lengths. Some leasehold properties will initially have a 99-year or 125-year lease, while others may have been given a 999-year lease.

When the time left on your lease falls below a certain level, it will impact the property’s value, how mortgageable it is, and how easy it is to sell.

If your lease falls below a level you’re happy with, you can pay to extend the lease, but this isn’t cheap. You can use a lease extension calculator to get an idea of how much it might cost.

Are maisonettes difficult to insure?

In general, maisonettes shouldn’t be any more difficult to insure than other property types. The only exception to this might be if the maisonette is above a commercial property. Insurers may be more cautious regarding proximity to commercial property due to a perceived increased risk of fire, pests and vandalism. You should still be able to get insurance, but your premiums might be higher.

How you arrange buildings insurance will be a matter to check before you purchase the property. Some maisonette owners will have a joint buildings insurance policy with the other property owner(s) in the building. In other properties, the freeholder may hold the buildings insurance policy. This would be something to discuss as part of the conveyancing process.

Do you have to pay a maisonette service charge?

If the maisonette you’re buying is a leasehold property, you may have extra costs such as ground rent and service or maintenance charges to consider.

Details of any costs will be included in the information provided by the estate agent or management company.

Do maisonettes have gardens?

Some ground-floor maisonettes will have private gardens. This is one of the benefits a maisonette may offer over a flat.

Would it be possible to do a ground-floor maisonette extension?

It may be possible to do a ground-floor maisonette extension, providing you have the necessary permissions.

You would need to have:

• Exclusive ownership of the garden (ie. not shared access)
• Planning permission
• Permission from the freeholder (if that’s not you)

If you own an upper-floor maisonette, you may be able to extend your property by doing a loft conversion (if the property is suitable). To do this, you would need to seek the same permission from both the local planning authority and the freeholder.

Questions to ask when buying a maisonette

If you’re considering buying a maisonette, there are some important questions to ask.

• Will a maisonette meet your needs?
• What are the benefits of buying a maisonette over a flat or house?
• Is the property freehold, leasehold or share of freehold?
• If the maisonette is a leasehold property, how many years are left on the lease?
• What service charges, ground rent and maintenance charges are payable?
• Is there an agreement in place with the other property owners with regard to property maintenance?
• If you need a mortgage to buy the property, is it likely to be mortgageable (considering both lease length and proximity to commercial property etc)?
• What are the terms of the lease? Does it outline any restrictions relating to property modification or extension?
• How is buildings insurance handled? Do you need a joint policy with the other homeowner(s) or is this something the freeholder is responsible for?
• What are your long-term plans? Are you planning for the maisonette to be a long-term home or a stepping stone? This may affect whether a maisonette is the right option for you, as they be more challenging to sell.

Maisonette vs house – which is best?

A maisonette may offer may of the benefits of owning a house – private front door and possibly private garden – but at a more affordable price.

The aspect that may make owning a maisonette more complicated is if it’s a leasehold property. It’s important to read the terms of any lease carefully and consider whether a leasehold home feels like the right fit for you.

Flat vs maisonette – which is best?

Whether you choose a maisonette or flat will depend on your personal circumstances and what you’re looking for in a property.

A maisonette will have its own front door, limited or no shared spaces, and potentially a garden.

Flats are more common, and potential buyers are likely to be more familiar with the process of owning one. For this reason, they may be easier to re-sell.

Are maisonettes worth more than flats?

Maisonettes may or may not be worth more than flats. This will depend on the property particulars.

Things that may make a maisonette worth more than a flat in the same area:

• Private entrance
• Better layout or larger rooms – this can often be the case with maisonettes
• Outdoor space/garden

Things that may make a maisonette worth less than a flat in the same area:

• Location – proximity to any commercial property will have a big impact on property value
• Lease complications – maisonettes may be part of purpose-built blocks, or they may be part of a conversion of a large historic building. This means lease terms can vary widely. If there are lease terms that may make mortgage lenders more cautious, it will impact the value of the property.

Are maisonettes a good investment?

Maisonettes can be a good investment, especially if they have a garden, but this will depend largely on the condition and location of the property.

Maisonettes can have good appeal on the rental market, particularly for those who are looking for a more affordable or lower maintenance alternative to a house, but who still want their own entrance and outdoor space.

When it comes to reselling the property, it’s important to recognise that maisonettes are a niche market. Not everyone understands what they offer, and often people come to the market with a clear idea in their head that they are looking for either a flat or a house. This may impact both the resale value and how long it takes to find a buyer.

Are maisonettes hard to sell?

They can be. Maisonettes are not overly common and, as a result, a lot of people aren’t really sure what they are or how they differ from flats and houses.

This means few people begin their property search looking for a maisonette, and they may not have an open mind about the possibility of buying one.

A smaller pool of potential buyers will always make a property harder to sell.

Are maisonettes worth buying?

Maisonettes are great for the right type of buyer. If you’re taking your first step on the property ladder but your budget doesn’t stretch to a house, a maisonette may be able to offer the privacy and outdoor space of a house, without the price tag.

If you are considering a maisonette as a stepping stone, however, it’s always worth thinking about how you plan to move onto the next step. If a maisonette is unlikely to meet your needs long term, you may prefer to consider a shared ownership property, which will allow you to purchase part of a more suitable property and buy a greater share as and when you can afford to do so.