The primary attraction of owning a freehold is that it gives control over the property in question; the freeholder owns the building and the land it stands on outright and in perpetuity. The owner’s name is registered at the Land Registry as the freeholder owning the `title absolute.’ Technically, all land in England and Wales belongs to the Crown, but, in reality, landowners enjoy a right to occupy their property known as an `estate in land.’ Modern land law is reliant on the Law of Property Act 1925, by which ownership is classed as freehold or leasehold. Freehold means that the owner has absolute ownership, with full rights to use and occupy the property, to the exclusion of all others except those holding a specific legal right over it such as a right of way. Leasehold estates are those measured by reference to a length of time and effectively exist alongside a freehold from which they are created. Perhaps most people come across leases in relation to flats, where the freeholder owns the land and building standing on it and will grant long leases to the occupiers of the flats within, while often remaining responsible for the maintenance of the building’s exterior and common parts.
Overage, also known as claw-back, is a negotiated arrangement by which on a sale of land, the seller agrees with the buyer that if planning consent is granted on that land, the seller will be able to share in the potential increase in value of the land that he has sold.
The increasingly diverse opportunities offered by land ownership are creating a widening spectrum of people interested in making such a purchase. While the majority of farmland sales are still made to farmers, non-farming buyers are seeking land for a variety of reasons including forestry, the implementation of environmental conservation schemes, enjoyment of outdoor space, lifestyle and of course, privacy. Development land is also in the spotlight due to the number of houses which need to be built to meet government targets. Alongside these reasons exists an elemental desire in many people to own land for its own sake; the attributes of permanence and tangibility along with the feeling that it a safer option than investing in potentially riskier stock market investments is a strong driver for many purchasers.
The appeal of thatch is undeniable; the combination of old-world charm and a `roses around the front door’ image is guaranteed to attract interest from purchasers. However, the practical buyer may want to arm themselves with all the facts about the issues involved with thatched properties before making a purchase. Thatch is a centuries-old method of roofing; it is effective, being cool in summer and warm in winter and thatched properties hold their value. However, before a buyer loses their heart to thatch, the following points need consideration:
Demand is high for all types of plots of land in the UK with planning consent. This is driven by many factors including a desire to build a bespoke house and dissatisfaction with the style of new build homes on the market. The demand is exacerbated by the shortage of new houses to buy. The price of plots which have been granted planning permission of course varies hugely according to location.
England’s stately homes enjoyed their heyday in the 17th and 18th centuries, when the majority were built as the focal point of an agricultural estate surrounded by farmland. The owners received income from renting out the farms and often enjoyed revenue from other sources such as mining, industry or the railways.
When contemplating a first home purchase it is wise to be armed with as much relevant knowledge as possible. First-time buyers can make a careful examination of the property market and mortgage options to put themselves in the strongest position when choices have to be made.
In line with the current demand for all types of property and land, smallholdings for sale are highly sought after by those seeking a more rural environment; an added incentive for many is that they can offer a self-sufficient lifestyle. The definition of a smallholding is indistinct and whilst it is widely regarded as being a productive farm of less than 50 acres, the Collins dictionary defines a smallholding as a piece of land used for farming which is smaller than a normal farm.
The appetite for buying land of all descriptions remains keen and grazing land is enjoying high levels of interest. Prices are robust, bolstered by a lack of supply to the market. Areas of grazing land range from high quality blocks of pastureland to farms and can vary in quality: agricultural land is classified using the Agricultural Land Classification (ALC) system which assesses land quality from 1-5 according to its characteristics, with grade 1 land being the highest quality.
By Gill Broad 
By Rob Lambert 
