Valuations and valuation services in West London
Mortgage Lending
We have a number of qualified and experienced Chartered Surveyors able to provide valuations for domestic mortgage or commercial property acquisition. The primary purpose of these valuation reports is to provide to the client – normally a Bank or Building Society – a report with an opinion of market value for lending purposes.
The general condition of the property will be recorded but the valuation inspection does not involve a detailed examination of the fabric (see surveys).
Taxation Reports
Valuations of properties are often requested by clients, their solicitors, or accountants in connection with taxation matters eg:-
- Inheritance Tax
- Capital Gains Tax or in connection with family matters including Divorce proceedings
We hold an extensive database of comparable information within our offices, extending from 1980 to the current moment to assist in establishing value at any given date.
Reports can be prepared for Revenue or Court purposes by our Chartered Surveyors.
Leasehold Reform
Peculiar to the English Property Market is the Leasehold System, where leases are created on flats (and occasionally houses) and normally granted initially for periods of 99 or 125 years.
As the remaining unexpired term of the lease is reduced property value and saleability may be affected, increasingly so as the lease falls below 80 years.
This situation has been eased by the introduction of legislation from 1967 (houses) and more recently in 1993 and 2002 amended legislation to include flats.
The legislation enables the owners of flats (or houses), subject to certain qualifying conditions, to either secure an automatic right to a lease extension or to acquire the freehold.
Valuations for lease extensions or freehold purchase (‘enfranchisement’) require both a knowledge of the legislative provisions and of the valuation formula and techniques involved.
Our Chartered Surveyors have an established track record in Leasehold Reform work including initial assessments, negotiations and where necessary case preparation for Leasehold Valuation Tribunal purposes.
For further information or advice please contact us on 0208 567 2448.