Valuations

As Chartered Valuation Surveyors we are able to offer a range of valuations for many different purposes including:

Rental Valuations – We offer a service to Residential Landlords whereby we independently assess the current market rental of their property, rather than using a letting agent. A tenant is more likely to accept a rent that has been independently assessed

Lease Enfranchisement/Extension – Whether you are seeking a lease extension or whether you are considering acquiring the Freehold, we can asses the premium to be paid for a lease extension or collective enfranchisement.

Right to Buy – Council and Housing Association tenants are able to exercise their Right to Buy their home, subject to certain qualifying criteria. The Council or Housing Association will appoint their valuer to value the property and will send you their offer letter based upon the valuation. Our independent Right to Buy valuations will allow you to check whether the Council or Housing Associations valuation is fair and accurate and it may allow you to challenge their figures. It can also be submitted as evidence for the District Valuer to consider, should you wish to use your right of appeal to the Valuation Office Agency.

Inheritance Tax Planning/Probate – If you are planning for Inheritance Tax (IHT) purposes, or when valuing the estate for IHT purposes, the estates representative will need to include the value of any property, or shares in property, owned by the deceased. Our valuations are fully compliant with the RICS Red Book and will be based upon Section 160 of the Inheritance Tax Act 1984. It is also important to establish the value of the property on transfer to any beneficiaries so that an accurate Capital Gains Tax liability can be assessed. A probate valuation is often taken as the base cost for such a calculation later on, if ever the asset is sold.

Matrimonial – The family courts will accept our valuations for the purposes of matrimonial proceedings. Our reports are compliant with the latest Civil Procedure rules.

Shared Ownership/Help to Buy – Shared ownership valuations are required where you have bought a home using a shared ownership scheme such as Share to Buy or Help to Buy. If you wish to sell your property or repay part of your loan, then you will need an independent valuation from a RICS Registered Valuer. Our reports are RICS Red Book compliant and will fulfil the requirements of the scheme administrators and/or Housing Association.

To request more information, please click here.

Residential Survey Specialist

The cost of the survey can nearly always be recovered from the vendor by renegotiating the sale price based upon the findings of the survey.

Choosing the right surveyor will help highlight any serious problems and advise you of the specific risks before you commit to the process of buying or selling a property.

You should always choose an independent surveyor, not one that is tied to the estate agents or offers them a commission for work.

Do I need an independent Survey ?

Buying a house is one of the largest financial commitments you will make in your lifetime. It therefore makes sense to establish whether the property that you are buying has any issues that might affect your decision or might justify renegotiation of the agreed purchase price. Forewarned is forearmed and of course it is best to obtain independent reliable advice before making a legal commitment to the purchase, in order to avoid any unexpected surprises later. 

But I am having a Mortgage Valuation – won’t this do ?

If you are buying a home with the assistance of a mortgage, the lender will probably commission a valuation report to confirm whether the property provides acceptable security for the loan.  You may be paying for this but the valuation is intended solely to satisfy the requirements of the lender. It is not a survey and you should not rely on it when deciding whether or not to proceed with the purchase. 

Before exchanging contracts, therefore, you should obtain independent, specialist advice from a Chartered Surveyor 

So, what are the Options ? 

There are three levels of survey for home buyers defined in the RICS Home Survey Standard, broadly summarised below:

Home Survey – Level One

An RICS Level 1 Home Survey, previously called a ‘Condition Report’, describes the condition of the property, identifies any risks and potential legal issues, and highlights any urgent defects. Typically the lowest-priced survey, it is aimed at conventional properties and newer homes. It will note defects in the property but will generally not provide advice on how to manage those defects. Choose an RICS Level 1 Home Survey if you’re buying a conventional house, flat or bungalow built from common building materials and in good condition

Home Survey – Level Two

Previously called a ‘Home Buyer Report’ or ‘Home Buyers’ Survey’, an RICS Level 2 Home Survey is most suitable for conventional properties that are in reasonable condition and are simple in form and layout (for example, a property that does not have multiple alterations or extensions). The report gives you more detailed information about the property, and ideas about future repairs or maintenance that may be required. Level 2 can be a survey only, or a survey and a valuation:

1. Level 2 Home Survey (survey only) includes all the features of the Home Survey Level 1 and more extensive roof space and drainage chamber inspection. It includes advice on defects that may affect the property and what maintenance or repairs may be required. Choose an RICS Level 2 Home Survey if you would like more extensive information while buying or selling a conventional house, flat or bungalow, built from common building materials and in reasonable condition.
2. Level 2 Home Survey (survey and valuation) includes all the features of the RICS Level 2 Home Survey, plus a market valuation and insurance reinstatement figure, to help you avoid under- or over-insurance. Choose this option if you would like all the benefits of an RICS Level 2 Home Survey along with a valuation.

Building Survey – Level Three

A Building Survey is suitable for all types of buildings but is advised if the property is pre-1850, Listed, in need of extensive repairs or if it is constructed using non-traditional building methods and materials.  The service consists of a detailed visual inspection of the building, its services and the grounds and is more extensive than a Home Survey Level Two. Concealed areas normally opened or used by the occupiers are inspected if it is safe to do so.  Although the services are not tested, they are observed in normal operation.   The report objectively describes the form of construction and materials used for different parts of the property and their condition. It provides an assessment of the relative importance of the defects/problems. Additionally, it will describe the identifiable risk of potential or hidden defects in areas not inspected and propose the most probable cause of the defects, based on the inspection; outline the likely scope of any appropriate remedial work and explain the likely consequences of non-repair; make general recommendations in respect of the priority and likely timescale for necessary work.  A full description of the service is given in the Terms of Engagement and Scope of Work which your surveyor will provide.

There may also be an option to include, as an additional service to be agreed with your surveyor:-

• An opinion of the Market Value of the property 
• An estimated rebuilding (or “reinstatement”) cost of the property for buildings insurance purposes.

Whichever survey you choose, a full description of the service will be given in the Terms of Engagement and Scope of Work which your surveyor will provide. 

To assist you in choosing the appropriate survey level, examples of differences between the Level 2 and Level 3 Survey are set out below : 

Home Survey – Level Two with Level 3 Additions

Windows

The surveyor will attempt to open a sample of the windows, for example one on each elevation and one of each different type where there is variety.

The surveyor will try to open all windows on all elevations.

Roof Space

If safe and reasonable, the surveyor will inspect the roof space if not more than 3 metres above floor level. The surveyor will look at the roof structure, paying attention to parts of the roof which are  vulnerable to deterioration and damage

In addition to level 2, small corners of the thermal insulation will be moved to assess the thickness and type, and to assess the nature of the ceilings underneath. If permitted and it is safe, some lightweight objects may be repositioned to allow a more thorough inspection.

Floors

The surveyor will inspect the floors. The surfaces of exposed floors will be assessed, but the surveyor will not lift any carpets or floor coverings. Hatches, panels or floorboards will not be lifted, unless there is unfixed access to allow inspection of the subfloor (if safe and as appropriate). The surveyor will not enter the subfloor area.

In addition to level 2, the surveyor will lift the corners of any loose carpets and floor coverings where practicable and inspect the surface of exposed floors. If safe and accessible, the surveyor will enter the subfloor area to inspect it. All floors will be assessed for excessive deflection.

Inspection Chambers and Underground Drainage

If safe, and no damage will be caused, the surveyor will lift accessible inspection chamber covers to drains and septic tanks, and visually inspect the chambers.

In addition to level 2, where possible, the surveyor will flush appliances and run taps in order to access whether the drains and gullies are operating satisfactorily

Other Services (e.g., electrics, hot and cold-water systems, heating)

The surveyor will visually inspect the service systems that are visible within the ordinary course of the inspection. 

In addition to level 2, the surveyor will consider the operation the services in everyday use, e.g., by operating a sample of the lights and extractor fans and requesting the occupier to demonstrate operation of the heating system.

The Grounds

The surveyor will inspect the grounds visually, from the boundaries of the property and, where necessary, from adjoining accessible public property. This will include accessible permanent outbuildings.

In addition to level 2, the surveyor will carry out a thorough inspection of the grounds and assess features such as retaining walls, boundary structures, paths, driveways, terraces, patios, dropped kerbs, trees, and gates. 

Our surveyor is fully qualified and holds Chartered Membership of the Royal Institution of Chartered Surveyors, which is the highest award available for property surveyors.

• Chartered Surveyor – MRICS