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Hi, My husband and I are looking for funding to convert our barn into a bigger family home. We already have planning. The cottage we live in now is on the same plot/under the same title and has a covenant on it to stop us splitting the plot up. We are assuming the trust that placed the covenant on it when it was sold to us would want a pay out if we were to have it removed so we want to avoid that. We could borrow against the cottage, but it won't give us enough funds to complete the barn project. Any suggestions?

Morning all, I finally received a draft contract the other day for the purchase of a self build plot. There are a few covenants within that I would like to share in order to get some second opinions from my fellow self builders. I am due to meet with my solicitor next week so haven't received formal legal advice yet - I have reached my own opinions but would like a sanity check so here goes: 1. "The transferee will not raise any objections to any planning application made by or on behalf of the transferors or the transferor’s successors in title in respect of the retained land" 2. "The transferee and his successors in title shall not be entitled to any right of access of light and air or any other easement or right which would restrict or interfere with the free use of the retained land for building development or any other purpose" 3. "Approval of plans: the transferee must not build or erect upon the property any buildings or structures or erections other than one private dwelling house and boundary walls and fences the locations, exterior, design, appearance, finish, decoration of which are strictly in accordance with the drawing and specifications approved by the transferor in writing (which approval in relation to finish and decoration will not be unreasonably withheld or delayed)" 4. "Alterations: The transferee must not: (a) build other than in accordance with the drawings and specifications approved by the transferor. (b) After completion of the buildings, make any alterations or additions to the exterior of those buildings or any other buildings subsequently erected on the property or to the walls, hedges and fences on the property. (c) erect any additional buildings, walls, hedges and fences on the property; EXCEPT in all cases with the written approval of the transferor and whose fees d those of its professional advisors in connection with the consideration of any such application, whether granted, refused or withdrawn shall be paid by the transferee" Any/all advice/opinions are appreciated. Thanks