your questions answered
Please find below a list of common questions are answers when people are considering investing in land.
- Why buy from us?
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Most people may find the idea of buying land a daunting process, and the key is simply to get expert advice.
Our land providers have several years experience in identifying strategic land that has a good chance of being rezoned into a Local Development Plan.
Some of these professionals are planners with a proven track record.
- Is the land I buy freehold?
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Yes, all land sold through specificlandinvestments.co.uk or its partners are freehold.
- What if I want to sell prior to planning?
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Once you have purchased your plot or plots you are the rightful and legal owner and therefore within your rights to sell at anytime.
- What if I am a non-UK citizen? Can I still invest in UK land?
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There are no restrictions on foreign ownership of land in the UK. Your legal freehold title deed will be registered with Her Majesty's Land Registry in exactly the same way as a UK citizen and you need not be present in the UK
- Do I have to pay tax when purchasing land?
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Any land transaction of a value below £125,000 is exempt from stamp duty. No other taxes apply when entering the investment. However, an exiting one may be liable to Capital Gains Tax and should therefore consult an accountant as we are not qualified to advise on taxation. Captial Gains Tax is not applicable to foreign investors or non resident UK nationals.
- Can planning be guaranteed?
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Whilst every effort is made in identifying and selecting the right locations by experts - some are ex-planners, no planner will give you or ourselves the "G" word.
- What are the different types of land?
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- Greenbelt - Largely undeveloped land set aside to contain development and to provide open space and boundaries between towns. These boundaries can change in response to the requirements for additional housing.
- Green field - This is previously undeveloped land that included forestry and agricultural land.
- Brown field - This is land that is currently in use or was previously occupied by a permanent structure (i.e. residential, industrial, commercial) and is no longer in current usage.
- Do I need a solicitor?
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It is always advisable to use a solicitor that is experienced in land transactions.
- What a "LDF" plans?
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A Local Development Framework (LDF) is the term used in describing a folder of documents which includes all the local planning authority's local development document.
Essentially, the LDF applies the requirements of the Regional Spatial Strategy (RSS) at a local land level by obliging the scale and location in the locality regarding development and planning.
- What is "Regional Spatial Planning"?
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Regional Spatial Planning (RSS) identifies the scale and distribution of new housing in a region. It specifies priorities for transport, infrastructure, environment, agriculture, economic development, waste treatment and disposal minerals etc., by indicating the areas for regeneration, expansion and sub-regional planning.
- Where can I find out more?
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The following site will be of use:
- www.communities.gov.uk - communities and local government
- www.landreg.gov.uk - land registry
- www.rics.org - Royal Institute of Chartered Surveyors
- www.hmrc.gov.uk - H.M. Revenue and Customs
- maps.google.co.uk - Google maps of UK
- What is "Land Banking"?
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"Land Banking" is the process of buying pre-developed land, retaining for future profit. For more information on 'land banking' click here...
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If calling from overseas, please call +(44) 77 88 53 65 44.
