Landowners with plots where existing planning consents are close to expiring risk losing them as new planning policies are introduced.

Developers are always on the lookout for land where planning permission is already in place, meaning such plots have a valuable added premium when it comes to value.

However, where in the past getting a planning application renewed was frequently little more than a rubber-stamping exercise, consents expiring now require a new planning application to be submitted that will be considered under current planning regulations.

The obvious example is garden land as one of the first policies of the new government was a crackdown on what they perceive as "garden grabbing".

If you have garden land with an existing planning consent, it may be advisable to anticipate difficulties if you try to renew it.

Other issues that you may need to contend with include requirements to build homes to higher eco standards as well as a rise in the level of payments within Section 106 agreements, both of which have a direct impact on the value of the site. It is also worth acting sooner rather than later. It may be the most appropriate route is to sell the site with the existing consent rather than submitting a new application.

But many planning consents have conditions that need to be satisfied before work can start. A sale is unlikely if there is not ample time for the purchaser to satisfy the conditions before the planning consent expires.

My advice would be to talk to a land expert as they can advise on all aspects of the development process and the impacts on the value of your site.

RPC Land and New Homes has land experts covering the whole of Kent and marketing centres in West Kent, Thames Gateway and Mid and East Kent. For further advice or information, visit www.rpcland.co.uk or contact your nearest RPC Land and New Homes office.