Telephone: 0845 300 5452
A Property Valuation is an inspection carried out on behalf of your Mortgage Lender to determine the amount and terms of a Mortgage offer. We act for numerous Lenders and are electronically linked to most, to enable a quick turnaround of reports, thus avoiding any unnecessary delays.
A Valuation is not a Survey, and should not be used as the only basis for deciding whether or not to buy. A property can have defects that are critical to a prospective Buyer, but are not of concern to the Mortgage Lender, and therefore, will not appear in a Valuation Report. Some Mortgage Lenders do not release their reports for you to see. It is advisable and prudent to arrange a Survey by your own Chartered Surveyor, providing independent advice.
Both The Consumers’ Association publishers of Which? Magazine and The Council of Mortgage Lenders advise you to arrange a survey before buying a property – don’t just rely on a Valuation.
We have other services and reports available, such as, Valuation Reports for cash buyers. If you are a cash buyer and do not require mortgage finance, we are able to prepare an individual valuation report to a format approved by the Royal Institution of Chartered Surveyors, where obvious defects are drawn to your attention, but should further assurances be required, a more detailed survey would also be recommended.
Insurance Valuation and House Re-building Costs
It is important that your home is adequately insured, to ensure that you are covered in the unhappy event of partial or total loss by a fire or other insured risk, but also to ensure that you are not over insured and paying excessive premiums. Perry Bishop and Chambers surveyors can provide you with a formal valuation for insurance purposes to present to your insurer, based on the latest building and cost information.
Probate Valuations, Capital Gains Tax and Inheritance Tax
Perry Bishop and Chambers are able to offer this additional service where valuation of assets are required for Inheritance Tax/Capital Gains purposes.
The open market value of any relevant property’s assets will be calculated, as at the date of the relevant event. In preparation for a submission of a formal valuation report for the Inland Revenue, we can therefore, handle any negotiations/discussions with the Inland Revenue District Valuers Office, as may be required and agreed, between you and our surveyors.
Telephone: 0845 300 5452