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We provide valuations for commercial and residential property for the purpose of securing a loan (mortgage) when purchasing a new property.
Our Chartered Surveyors determine the value of a site or building in the current market place in accordance with the RICS red book standards for the purpose of securing a loan (mortgage) against your new home.
We will provide a detailed, evidence based report that provides our opinion of the value of the property in question that can be addressed to you or your mortgage provider as required. We can also be instructed directly by your chosen mortgage provider at your request.
Our aim is to assist you and your lender in making an informed financial decision relating to the property you intend to purchase. Lenders rely on mortgage valuation reports to make a calculated risk when awarding a mortgage. This ensures that you don’t pay over what the property is worth and that the lenders don’t over lend. Both are particularly important considerations in a competitive housing market.
We aim to turn reports around within five days of inspection and you will be able to talk directly to the surveyor working on your behalf should you have any questions.
Let us know how we can help you and we'll put you in touch with a commercial property specialist.
You can expect to pay between £600 and £1200 plus VAT for a straight forward residential valuation but larger or more complex properties will be more costly. The exact cost will depend on a number of factors including the size, location and age of the property.
Desktop valuation updates will usually cost up to £600. Read our desktop valuation FAQ below for more information.
The prices above are indicative only. We cannot give you an exact quote until you have confirmed the property address as every property is different.
The professional fees payable will always reflect the particular requirements of your property and the time which it is anticipated will be devoted to the matter. Valuations where reinstatement value and Market rental figures are required will incur also additional costs when compared to a standard valuation.
Desktop valuations, where an opinion of value is reached without an inspection of the property, are not RICS Red Book compliant and as such we don’t conduct them. We do however conduct desktop valuation updates. These desktop valuation updates are only suitable if we have visited the property on your behalf before, no significant alterations have been made, or the time elapsed since the inspection was conducted isn’t too great.
Desktop valuation updates are commonly used when the validity of the original valuation has expired (usually after three months of valuation date) and a retype is requested to state that the original value is still correct and the market has not significantly changed.
Market appraisals are an assessment of what Estate Agents think can be achieved in terms of sale price for your property. This value is affected by supply, demand and current property market but is not a true reflection of the actual value of the house.
A mortgage provider will insist on a mortgage valuation from a RICS registered Chartered Surveyor. The valuation will consider the structure, market and similar property sales in accordance with the RICS red book standards. In order to provide a mortgage lenders require that mortgage valuations are conducted by firms with suitable levels of professional indemnity insurance.
This allows lenders to make an informed decision regarding the risk associated with the loan requested to mortgage the property. They need to know they have not over extended their loan against a property that isn’t worth the value it was sold for.
When we are instructed to carry out a valuation by your lender, you will be liable for the cost of the report but we are not allowed to release a copy of the report to you as the lender is our client.
If you require a copy of the report you will need to request this directly from your lender.
Registered Valuers may provide varying opinions of value because a valuation is an evidence based opinion with an element of subjectivity.
When disagreements in value occur, courts are asked to decide if a value is correct. Provided the valuation has been conducted in accordance with the RICS red Book (where best practice guidelines are set out by the regulatory body for Chartered Surveyors) an opinion of value cannot be ‘wrong’, as long as it is within reasonable tolerances of the court’s opinion of value. This tolerance is usually up to 10% over or under the original valuation.
Consumers should instruct a Chartered Surveyor, via the RICS find a surveyor service to find a surveyor with local market knowledge and adequate professional indemnity insurance to provide the confidence that the opinion of value can be relied upon subject to any qualifications in the valuation document.
Kempton Carr Croft is a RICS regulated firm, has PII insurance cover and all valuations are conducted by qualified RICS registered valuers.
Kempton Carr Croft’s Surveyors regularly provide valuations for properties throughout London and the whole of the South East of England. The team works from offices in Basingstoke, Camberley, Gerrards Cross, Maidenhead, London, Reading, Staines and Windsor.
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