selling a portion of my garden

husky11

my son has asked me to sell a portion of my very large garden to him so he can build his own property, how do i begin this process please?

hazyjo

Does he have, or has he looked into planning permission? Is there direct access to the plot, or would you need a road, etc building or would you have any shared access? Without knowing what's around you, it's hard to give a definitive answer.

Jx

ognum

husky11 wrote: »

my son has asked me to sell a portion of my very large garden to him so he can build his own property, how do i begin this process please?

Do you have a mortgage if so you need to first speak with your mortgagers!

husky11

He will need planning permission, however the house two doors away were given planning permission to build two dormer bungalow properties which are near completion. The land he would be buying does have its own access and road.

My property is mortgaged and i have spoken with them, they stated that they could not see a problem if the sale money was used towards my mortgage balance, which was what i had planned to do.

00ec25

husky11 wrote: »

if the sale money was used towards my mortgage balance, which was what i had planned to do.

how large is "very" large????

if your garden is more than 0.5 hectare (5,000m2 or 1.2 acres) then you need to keep some back to cover your Capital Gains Tax liability

husky11

oh dear, im not good at this maybe its not "very large" all i know is that it is approx 55ft in length 30ft in width and is triangle shapes, (the portion i intend to sell him) sorry for appearing so thick

00ec25

husky11 wrote: »

oh dear, im not good at this maybe its not "very large" all i know is that it is approx 55ft in length 30ft in width and is triangle shapes, (the portion i intend to sell him) sorry for appearing so thick

the tax rules will only affect you if your entire garden (not just the bit you are selling off) is more than approx 5,980 sq yards (ie about 54,000 sq foot)

if it helps visualise it, 55ft x 30ft = 1,650 sq foot so about 3% of the limit

husky11

thank you thats so helpful so as i see it the portion i am selling equates to just under a 1/3 of the back garden.

What do i need to do next please?

Davesnave

You've no doubt looked at what kind of house footprint will fit, but don't forget that if you are including car parking on the plot, the planners now insist on a turn space with new property.

lincroft1710

A triangular shaped plot 55ft by 30ft is quite small. Enough to build a house, but very little room left for much else.

Before going to the expense of surveyors/valuers and solicitors I would suggest your son obtains either outline or full planning permission first.

hazyjo

When pricing up what to charge, don't forget to take into consideration the devaluation of your own property. That's a pretty small-ish garden to start with, and a lot to lose.

If you have a one bed cottage, fair enough maybe. But if it's a family-sized home, you don't want to build in the back garden, lose probably over a third of it, and make yours worth considerably less than what you'll make selling the 'plot'.

Jx