RICS Home Surveys & Valuations
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About RICS Home Surveys and Valuation
We have several Chartered Surveyors and RICS Registered Valuers whom are all trained to carry out the various types of condition based reports and valuation services offered by our practice. Michael Holden was formally a member of the RICS product development group for residential surveys. If you are unsure on the product that you require please do not hesitate to contact us and our admin team will be happy to talk you through our range of services to ensure you get the product that is right for you.
The Building Survey is the most comprehensive RICS Survey (also known as a ‘full structural survey’). This high-level inspection of a building covering defects, maintenance, refurbishment and adaptations. This product is suitable for older and/or larger properties. Michael Holden is the technical author of the National RICS Practice Note on Residential Building Surveys. .
The RICS Building Survey is a detailed report on the condition of a property and is the flagship product of the RICS and is delivered in two formats:
- The Practice Note version.
- The Guidance Note version.
The more recent residential Practice Note takes the form of a traffic light system which is consistent with the other RICS products such as the Condition and Homebuyer Reports. It is convenient and well laid out for the client to interpret. Surveyors undertaking practice note versions of the building survey must follow the strict framework dictated by the RICS.
The Guidance Note on the other hand is bespoke and is normally produced in a word document with schedule of photographs. Additional input by way of valuation, cost estimates for repairs, design work, briefing documentation, environmental reports, radon gas reports etc can be provided.
Homebuyer/Level 2 Reports
The RICS Homebuyer Report or Level 2 Report is a very popular product. It is aimed at properties that are reasonably modern in appearance and which are also thought to be in a reasonable order internally and externally. It is designed to provide a purchaser with an independent and thorough overview of a property concentrating on significant matters that may typically affect value and to enable them to make an informed decision whether to proceed or not. A surveyor undertaking a RICS Homebuyer Report or Level 2 Report should have the same knowledge of defects / condition as those taking building surveys. Some client contact is to be expected but not as detailed as with a building survey. It contains a valuation and fire insurance reinstatement figure
Our Residential Valuation services are as follows:
Help to buy Valuations
Help to Buy is the current equity loan assistance from the Home and Community Agency to buyers of properties in England and Wales. ‘With a Help to Buy: Equity Loan the Government lends you up to 20% of the cost of your newly built home, so you’ll only need a 5% cash deposit and a 75% mortgage to make up the rest’ (helptobuy.gov).
When you purchase a property and require a mortgage the lender will commission a mortgage valuation. The mortgage valuation ISN’T a survey. It’s purpose is to advisor the lender of the value of the property and any significant defects which may effect it’s value as security for the proposed loan/mortgage. A mortgage valuation comprises of a concise inspection which typically takes between 30-45 minutes. If any significant defect/s are noted then the surveyor will suggest a retention of a portion of the loan to be released when the work’s done.
Right to buy/Right to acquire Valuations
RTB and RTA schemes are governed by the Housing Act 1985 (Act) and the Housing Act 1996. Qualifying tenants my serve notice on the landlord exercise their right to purchase the property in which they live. We have carried out hundreds of Right to buy/Right to acquire valuations across Lancashire and Merseyside.
We would not hesitate to recommend Michael Holden Chartered Surveyors to anyone who is not sure of the type of survey they may require.Susan Henthorn
Best price, excellent service and extremely helpful staff. I highly recommend this company.SqiddzzY P3rsoN
Cheaper than a large surveying firm too even though they were already attending my property to carry out a standard mortgage valuation.Anthony Richards
Absolutely the best! Thank you Michael and your team - a real pleasure to work with you.Tracey Wallis
Produced a comprehensive report which was easy to understand with helpful advice even for a property novice like me.Laura Higgins
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