BPS

[Gudge]

Hi Guys. We are about to purchase a 31 acre farm. The vendor wants to sell us his BPS rights. My questions are.
Is this right that I have to buy it from him?
If I don't buy can I just apply next year when the window is open?
If I don't buy can he still claim BPS for my land?
Can he sell it to somebody else and they claim for my land?
What value would you put on the BPS rights?
Thanks for reading my post, any comments gratefully received.

 

[beefandsleep]

You don’t have to buy them.
You can’t claim unless you buy entitlements.
You need land to activate the entitlements.
He can sell them to someone else.
They are not linked to your land.
Unsure of the value, enquire with a broker. You can buy entitlements if you wish, they don’t have to be the ones the vendor of the land is selling.
Personally on 31 acres I wouldn’t bother, it will be a pittance and you will be beholden to government whims, be master of your own destiny.

 

[aangus]

Hi Guys. We are about to purchase a 31 acre farm. The vendor wants to sell us his BPS rights. My questions are.
Is this right that I have to buy it from him?
If I don't buy can I just apply next year when the window is open?
If I don't buy can he still claim BPS for my land?
Can he sell it to somebody else and they claim for my land?
What value would you put on the BPS rights?
Thanks for reading my post, any comments gratefully received.

If it keeps the deal sweet then I would buy them, value I would like to think you could get them for 1 years claim

 

[Nearly]

You don’t have to buy them.
You can’t claim unless you buy entitlements.
You need land to activate the entitlements.
He can sell them to someone else.
They are not linked to your land.
Unsure of the value, enquire with a broker. You can buy entitlements if you wish, they don’t have to be the ones the vendor of the land is selling.
Personally on 31 acres I wouldn’t bother, it will be a pittance and you will be beholden to government whims, be master of your own destiny.

If it keeps the deal sweet then I would buy them, value I would like to think you could get them for 1 years claim

If you don't like the system after the first year then you can sell them on again.

 

[Ramrod]

Last deal I heard of £165 + Vat.

Agents predicting shortage!!