Land Option Agreements in Billericay
Think of an option on land in Billericay as a reservation with conditions attached. You agree not to sell to anyone else for a set term. In return, Land to Homes funds the planning work and pays your reasonable legal fees, agreed up front in the heads of terms. If permission is granted, we can buy at the formula price you agreed.
Billericay · CM11Free site appraisal
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- Free site appraisalNo cost, no obligation
- Legal fees coveredReasonable fees, on options and promotion
- Nothing to pay upfrontOn promotion: we fund planning
- Direct purchaseSuitable sites, with or without planning
- UK-wideEngland, Wales, Scotland and NI
Our coverage in Billericay
In Essex, Billericay lies about 14 miles north-west of Southend-on-Sea; its central postcode district is CM11. Basildon is the closest neighbouring place we cover, at about 4 miles, followed by Wickford and Brentwood. Within England, Billericay falls in the East of England region.
Typical sites we review near Billericay include infill gaps along existing streets, backland plots with a workable access and paddocks on the edge of Billericay. Because Billericay is in England, land titles are registered with HM Land Registry and transfers attract Stamp Duty Land Tax (SDLT).
Send us a postcode in or near CM11 and we will start with a free desktop appraisal.
What you get in Billericay
Your legal fees paid
On option agreements we pay your reasonable legal fees, with the amount agreed up front in the heads of terms, so you can instruct your own solicitor to review every clause.
Price set by valuation
The purchase price is usually market value with planning, agreed between the parties or set by an independent surveyor, less a negotiated discount. A minimum price clause can put a floor under the figure.
Option premium on signing
Many options include a payment when the agreement is signed, in return for tying up the land. Whether it is deducted from the final price is a point to settle in the heads of terms.
Keep using your land
You normally stay in possession during the option. Farming, grazing or existing lettings can usually continue, subject to access for surveys and limits on granting new long-term tenancies.
Rules that apply in Billericay
Whether a field or large garden could take homes depends mostly on the council's Local Plan and national policy. Under the National Planning Policy Framework, plans define settlement boundaries, and land just outside Billericay may still come forward if it is allocated, previously developed or meets evidenced unmet housing need. Smaller housing schemes can also use Permission in Principle, an England-only route that settles location, use and amount first. Our free appraisal explains which route suits your land.
In England, an option is usually protected by a notice on your title at HM Land Registry. Planning is pursued through the Local Plan or an application judged against the NPPF, and price deductions often cover Section 106 obligations, the Community Infrastructure Levy and, where it applies, the cost of meeting biodiversity net gain.
| Local planning document | Local Plan |
|---|---|
| Who decides applications | The local planning authority, usually the district, borough, city or unitary council (or a national park authority) |
| In-principle consent | Outline planning permission, with reserved matters approved later |
| Land transaction tax (paid by the buyer) | Stamp Duty Land Tax (SDLT) |
Questions about Land Option Agreements in Billericay
What is an option premium?
It is a payment a developer may make when the option is signed, in return for exclusive rights over the land. The amount varies widely from site to site and is negotiated. Some agreements deduct it from the final purchase price, while others do not, so the heads of terms should say which applies.
Is an option payment taxable?
It can be. Receiving an option payment can have tax consequences when you receive it, not only when the land is finally sold, and the later sale may be looked at together with it. The position depends on your circumstances, so speak to an accountant before you sign.
What happens if planning is refused during an option?
The developer can usually appeal, submit a revised scheme or wait for a new local plan, as long as the option term allows. If no suitable permission is secured by the end date, the option lapses and you are free to deal with the land again, normally keeping any premium already paid.
How does an option agreement work for land?
The landowner grants a developer the exclusive right to buy the land within a set term. The developer spends its own money seeking planning permission. If suitable permission is granted, the developer serves notice and buys at a price worked out under a formula in the agreement, usually market value less a discount and agreed costs.
Do you work with landowners in Billericay?
We do. We work with landowners in Billericay and elsewhere in Essex, including Loughton, Clacton-on-Sea and Harlow. Send us a postcode and we will start with a free, no-obligation appraisal of what the land could take.
Read more: Land Option Agreements · Guide: Tax when selling land for development