Shared Ownership Valuation
When selling or staircasing (buying more shares) your shared ownership property, you require a written independent market valuation by a qualified RICS surveyor, to ensure a fair price on the total property value. This is crucial to ensure compliance with housing association standards, reduces valuation disputes, and justifies sale prices, helping to avoid overpaying for additional shares or underpricing during a sale.
Why Choose A Shared Ownership Valuation?
A Shared Ownership Valuation provides an independent, professional assessment of your home's current market value. This is a mandatory requirement by housing associations when you want to sell your share, buy more shares (staircasing), or remortgage.
Key Benefits of a Shared Ownership Valuation
Accurate Staircasing: Determines the precise cost of buying additional shares based on current market value, allowing for, for example, 10% or higher, according to GOV.UK.
Fair Resale Price: Provides a Royal Institution of Chartered Surveyors (RICS) approved valuation required for selling your share, ensuring it is priced accurately within the housing association's nomination period, as per GOV.UK.
Conflict Resolution: Evidence-based reports reduce disagreements with landlords regarding the property’s worth.
Market Alignment: Accounts for local market fluctuations, including the depreciation of the "new-build premium," preventing overvaluation upon resale, explains Shared Ownership Resources.
Lender Requirements: Meets necessary criteria for mortgage providers, ensuring smooth financing for buying more shares or refinancing.
Usage Examples:
Staircasing: To determine the price of increasing ownership from 40% to 60%.
Selling: To establish the asking price when selling a 50% share, allowing the housing association to find a buyer, as outlined on GOV.UK.
Remortgaging: To update the lender on the current property value, which can affect equity calculations
OUR SHARED OWNERSHIP VALUATION PROCESS
1
Initial Consultation
We begin with a discussion to understand your needs.
2
Booking the Valuation
Once you request a valuation, our team will arrange a suitable date to inspect the property.
3
The Property Inspection
The RICS surveyor will conduct an in-depth inspection.
4
Valuation Preparation
After the inspection, the surveyor compiles evidence to calculate the current market value of the property.
5
Receiving Your Valuation
You will receive your valuation within a few days, which you can then forward to the appropriate parties.
How Much Does a Shared Ownership Valuation Cost?
Valuation costs vary depending on the property type, size, and location. Here’s what affects the price:
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Larger or unique properties may require more time for the surveyor to conduct a thorough inspection and market analysis.
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Older homes or those with significant alterations can impact the complexity of the valuation.
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Regional market variations can influence the research required for an accurate, RICS-compliant report.
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Whether you are staircasing, selling, or remortgaging, we ensure the valuation meets the specific criteria required by your housing association.
For an accurate quote based on your property, get in touch with our team today.
Professional. Trusted. RICS Accredited.
The Royal Institution of Chartered Surveyors (RICS) sets the gold standard for surveying professionals.
By choosing a RICS-accredited surveyor, you are assured of expert advice, high-quality service and adherence to strict ethical standards.