The Times - How studios became one-man mansions
Forget the Rising Damp image, these apartments are enjoying a strong revival among first-time buyers
Studio flats have had a bad press in Britain. For too long they have been associated with low-cost living — the dingy bedsits of 1970s TV sitcom Rising Damp often come to mind. Today, though, studio flats are becoming hot property at both ends of the price spectrum.
Mortgage advisers also report a rise in the popularity of studio flats, but suggest that buyers consider the size and location of the property because many lenders will not loan on properties less than 30 sq m (322 sq ft), and sometimes not to buy-to-let borrowers.
“Some, like Nationwide and Santander, don’t have a minimum floor size, but will help if the property is in a prime position and there is a strong demand for it. It will be completely dependent on the valuer’s report,” says Aaron Strutt of Trinity Financial. “A 20 sq m flat in Kensington might well be accepted.”
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