Mortgage valuations

We provide valuations for commercial and residential property for the purpose of securing a loan (mortgage) when purchasing a new property. 

The expert knowledge you need with the personal service you expect.

Mortgage valuations

 

What do we do? 

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.

 

Turnaround

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.

To get a quote or discuss your mortgage valuation

CONTACT US

Frequently asked questions about mortgage valuations

  • How much does a mortgage valuation cost?

    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. 

  • Can you conduct a desktop 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.

     

     

     

     

  • What is the difference between a market appraisal and a mortgage valuation?

    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.

     

     

  • If my lender instructs you, am I entitled to see a copy of the report?

    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.

  • What is covered in a Mortgage valuation?

    • Initial advice in respect of the valuation requested
    • Inspection of the property
    • Reporting the Market Value, reinstatement value and rental value at the applicable valuation date
    • Comparable sales of similar properties that have sold locally to provide supporting evidence that the value is realistic.
    • Consultation prior & post valuation to ensure any specific concerns you have are considered
  • Why do valuations differ between surveyors?

    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.

  • Do you conduct mortgage valuations in my area?

    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.

Loan security valuation

03/06/2019

The customer service we receive from Kempton Carr Croft is great. Crucially, the experience you have with them is the same no matter who you deal with and they are responsive, professional and always provide reports on time.

The consistency in their approach is paramount for us, it means that we can be confident in the documentation they provide and there is no need to double check what they have done and it feels like KCC are part of our team.

The quality of the work Kempton Carr Croft produce is brilliant and when we collaborate with them, we feel protected, particularly because our offers are hinged on the work which they produce. Furthermore, the way they conducted themselves reflects on our customers and we can be sure that our business reputation is protected when we work with Kempton Carr Croft.

Business client, London