Some Questions & Answers
Why should I do it now?
Planning and development taxes nearly always go up! At the moment it is profitable under current policy to sell the land for development. With the constant change in development tax (S106, CIL and affordable housing contributions) and planning policy, this current enhanced value may reduce at any time.
Why is advertising the land on the property market unsuitable?
The land does not have planning yet and this is what creates its enhanced value. You need to make sure that the person purchasing the land has a proven track record of success in obtaining planning and the money to complete the purchase. If open to everyone to buy, it could waste a lot of time and money as well as prohibit the site from getting planning in the future.
Will the value of my house be affected?
The offer is based on selling excess garden land. This means that the existing house is left with a garden in keeping with average sizes in the local area, so the value should not be impacted by the sale. New houses are required to have approximately 10m or garden, so if you are left with that amount (or more) it will have the same amount as a new house!
In many cases a high-quality development can uplift the value of the neighbouring houses.
Can I see the plans and designs that will be submitted for permission?
Yes you will can. Due to the cost of these plans, they can only be drafted once a financial agreement for the sale has been made.
Can I sell my house in the period of the option contract if I decide to?
Yes you can but the option would remain on the title and bind the new buyer (giving them the possibility of the sale money) or you can sell the house and keep the land to sell when planning is achieved. As before, selling the house without the piece of garden proposed should not impact the value of your Land. (Please also check tax difference below)
How and when will we receive our money?
Once an acceptable planning permission is granted, a deposit will be sent within the agreed timeframe. The balance will then be paid on completion, direct into your solicitors account on the agreed completion date, before any building works even start.
Do I need my mortgage lenders permission?
You will not usually need your mortgage lender’s permission to sign the sale
Agreement. When it comes to completing the contract, some mortgage lenders ask for a valuation to check that the development will not affect their security at a cost of circa £200, the costs of which will be met.
Why do you need 6-18 months (+ appeal extensions), why can’t you just buy the land now?
Garden land has little to no value until planning permission is achieved. If you sold it now it would not attract anywhere near the value it will when planning is achieved. Allowing someone the time to do this at no cost to yourself will ensure you receive the enhanced value.
Will I pay tax on the sale of the land
If the land is part of your principle primary residence there is no income tax or capital gains tax to pay, it is completely TAX FREE.
If you sell your house first and then the garden afterwards, you will have to
pay CGT (Unless you exchange contracts to sell the garden before the house)
If however you are selling the garden of an investment Land you may have a
percentage of CGT to pay.
*You should contact a qualified tax accountant to confirm your individual circumstance.
If you're ready to explore the idea here are 3 easy no-obligation ways to get started....
The simplest way to start is to—
- Call us on 020-3137-8676, or you can...
- Request a callback at a convenient time, or you can...
- Book in a FREE garden land appraisal where we will assess the value of your garden and research what could be built. All for FREE and no-commitment.
Either way, we will take the time to answer all your questions.
Alternatively, you might want to take a moment to—
- Look at some examples of garden redevelopments that have already happened around the south of England.
- Learn more about us, our team, our history and some of our quirky beliefs and values.
- Find out about our 4-step solution to getting the most out of your garden land..
Get your FREE garden land appraisal
Request your Free garden land appraisal and find out...
- If & what you can develop.
- The value—what we can pay you.
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Prefer to chat?
Call us on 020 3137-8676. We are open from 8.30am to 5.30pm Monday to Friday. If it's out of office hours you may prefer to request a callback instead and we'll call you back at your requested time. We'll take the time to answer all your questions. There's no obligation or commitment.