Wayleave or purchase?

johney

Hello Folks,

renovating a bungalow and upgrading septic system. I want to put percolation area in neighbours field. Asked if he would sell me a bit but he said he will sell me wayleave rights instead. In this day and age is this still done? Is anyone in a similar situation and does it work out ok. If I were to sell in the future, could this be a negative factor?

Many thanks

mickdw

johney wrote: »

Hello Folks,

renovating a bungalow and upgrading septic system. I want to put percolation area in neighbours field. Asked if he would sell me a bit but he said he will sell me wayleave rights instead. In this day and age is this still done? Is anyone in a similar situation and does it work out ok. If I were to sell in the future, could this be a negative factor?

Many thanks

Still common on older properties.
I map a few of these for clients and i dont like it at all.
Sewage system requirements change over time and im not sure if some of the older wayleave agreements are sufficient to cover some of the upgrade requirements today.
Many older tank wayleaves only signed up a pipeline route and a tank - does this allow someone to go in and upgrade the system with a large percolation bed?
I would say if you go with the wayleave - ensure that its worded to give you full rights to upgrade in future to any standard required by applicable authority for whatever reason.

listermint

Wayleaves bad for septic tanks. I wouldn't be satisfied with that at all. Nope. Search your own property for a location for it thats suitable

johney

thanks for the replies lads.

Does a Wayleave devalue a property upon sale?

You say listermint that they are bad, maybe you could let me know the reasoning?
My own property is not suitable for the upgrade as it's less than 1/2 an acre and this needs to be done right.
I am sure I can purchase a little of the field. It is unused for years. It will just be a matter of price!

Cheers

listermint

johney wrote: »

thanks for the replies lads.

Does a Wayleave devalue a property upon sale?

You say listermint that they are bad, maybe you could let me know the reasoning?
My own property is not suitable for the upgrade as it's less than 1/2 an acre and this needs to be done right.
I am sure I can purchase a little of the field. It is unused for years. It will just be a matter of price!

Cheers

Wayleaves make the process very complicated for a purchaser. And banks don't like them. It's not insurmountable it just ads problems. Unless the property has a strong unique selling point then it makes it a more difficult sale and thus you could say lowers the value to try spur interest.

If they can be avoided they should. But not everything in life is so simple. If your forced to use Wayleave you need it buttoned up tight. There's very little to prevent the landowner being a excuse my French bollix in future and pushing it legal on a whim over some other dispute.Which leaves an expensive problem to solve.

Calahonda52

listermint wrote: »

Wayleaves make the process very complicated for a purchaser. And banks don't like them. It's not insurmountable it just ads problems. Unless the property has a strong unique selling point then it makes it a more difficult sale and thus you could say lowers the value to try spur interest.

If they can be avoided they should. But not everything in life is so simple. If your forced to use Wayleave you need it buttoned up tight. There's very little to prevent the landowner being a excuse my French bollix in future and pushing it legal on a whim over some other dispute.Which leaves an expensive problem to solve.

Especially if he happens to drag the 8 furrow plough across it, by accident