Yes Aran.
First study at least the basics of Planning Law. Because, unless you understand those, you should not speculate on land at all.
I have spent a lot of my time over the past 4 years or so telling "investors" as gently as I can that the "plot" of land they "invested" £14,000 or more in buying on the Internet is actually currently worth around £600, and furthermore has no reasonable prospect whatever of getting planning permission for ANY kind of valuable development in the foreseeable future - much less permission for housing, which is what they bought it for, and with the intention of making a massive profit.
(Why on earth they don't ask us - or someone else qualified to give it - for an independent and truthful assessment of the future prospects of winning planning permission BEFORE they buy it I simply do not know. My car is currently worth a mere £8,000. Would you pay me £26,000 for it based solely on MY assurance that you might make a big profit selling it in the future ? NO, of course you wouldn't. Then why do people do exactly that with land ? It's beyond me!)
There are over 8,000 pages of Planning Law, but the basics of Planning Law are NOT difficult. And if you learn them properly, they will in all probability either:-
(i) avoid you making a dreadfully expensive mistake
AND/OR
(ii) help you to make a brilliant investment decision, and a fortune in profit at some future date.
This advice is merely common sense. It amounts to "Learn to drive before you jump in and start the engine."
On a more positive note, there are VAST profits to be made from winning permission to develop land, and they can be made without capital, and with no financial risk at all.
LAND PLANNING ASSOCIATES
Planning Law Consultants & Planning Appeals Specialists
www.landplanning.org.ukemail: info@landplanning.org.uk