Restrictive Covenant Removal Council Cost

davidmcn

mff369 wrote: »

I have obtained planning permission on a plot (pair of semi's) with the option to buy, only to find out now that there is a restrictive covenant on the land.

That's an odd way round to do things. Didn't your solicitor advise you to check the title position before applying for planning?

mff369

Hi,Thanks for your views. When you say a council will want between a third and a half of the increase in value, what do you mean ? Does this mean they will get valuations of the plot with planning ?

mff369

Hi,
I put in for planning not checking the title (learn by mistakes). I only appointed a solicitor when i got planning.

Davesnave

mff369 wrote: »

Hi,Thanks for your views. When you say a council will want between a third and a half of the increase in value, what do you mean ? Does this mean they will get valuations of the plot with planning ?

This land will have two values; one as garden land and the other as a development plot with PP.

The increase in value is the difference between the two figures.

AdrianC

mff369 wrote: »

I think the benefactor is the council.

You think? You need to be 100% gold-plated copper-bottomed certain before you approach anybody and say "Can I give you money to not do anything about this, please?".

Why do you "think" the council is the benefactor?

Does anyone know what they would charge to remove covenant?

Whatever they want to charge and whatever they think you'll pay. And bear in mind that councils are trying to find whatever revenue sources they can...

davidmcn

mff369 wrote: »

Hi,
I put in for planning not checking the title (learn by mistakes). I only appointed a solicitor when i got planning.

So when you said you have "an option to buy", do you actually mean you have a contract, or just some sort of informal understanding?

mff369

I do have an option agreement on the land. As much as i would prefer the covenant removed, i think i will probably go for the indemnity policy as i know if i try and get it removed it could be refused or cost me a lot to get it removed.
Has anyone had a covenant removed with the council?

Kyresa

If it IS the council who own the covenant, be careful as by contacting them about it you have put them "on notice" and this will invalidate any indemnity policy you may take out.

vivatifosi

A relative of mine had some land, the covenant for which was lifted by a government body (quango rather than local govt). The land, a few years ago now, was worth c£100k with planning permission, a couple of thousand tops as a garden. They charged about £30k to lift the covenant. It was a huge amount. This fits with what Richard Webster has said (above). Having said that, the build cost for what was achieved was relatively low and the resulting house on a large plot was immediately worth significantly more.