Valuation FAQs

The current market value of your home needs to be determined for mortgage purposes. It ensures your home is on the market at its true market value.

Your valuation will also take in to consideration certain home improvements you may have made to your home. This may have increased its value.

If you instruct a surveyor from our panel, the cost is standard across everyone we work with. An up-front fee is payable to secure your appointment with a surveyor.

An extension can be requested and carried out by your surveyor who will apply a charge in addition to the original fee.

This extension is valid for a further three months. If you have still not completed on your transaction by the end of this three month extension you'll have to pay for a full valuation to be carried out again.

The value of your home may have changed in this time.

You’ll need to raise your concern directly with the surveyor. They will have their own dispute procedure. This usually involves you providing data in relation to comparable property prices in your area.

Works carried out to shared ownership properties may affect the value. If you sell your share of the home the valuer won't value alterations separately. Any money spent is of your own choice. Should it increase the value of the property overall at the point of selling your share you'll have increased the value of the share you own, as well as the share we own.

For example, alterations carried out by a 50% shared owner result in an increase in the value of the overall property by £10,000. At the point of selling that increase is shared at £5,000 each to you as the shared owner and us as the freeholder. 

However if you've staircased to own 100% of the property, the valuer would take into account the alterations and calculate the share cost of buying the remaining shares accordingly. Ensuring that you're not paying twice. So you won't pay once to carry out the alterations and again for the increase in value to the property that's created. 

If you're planning to invest significant amounts of money into the shared ownership property for alterations/improvements it's prudent to take into account whether or not you plan to buy the remaining shares. It may have a financial effect to you as the shared owner/owners.