Shared Ownership Valuations

Fees starting from £200

Shared ownership is a form of home ownership which has become more popular in recent years as house price appreciation has outstripped inflation. It is designed to be more affordable and attainable. Instead of owning the entire property (either outright or with a mortgage), you buy a specific percentage of it. You may then be required to rent the remaining percentage from your housing association often at a reduced rate.

Different shared ownership schemes can have different terms. You might never own the remaining shares, or you may have the option to buy all or some of the remaining shares at a later date via “stair casing”. It depends on your shared ownership agreement.

Once you own your share in the property, an RICS Valuation is often required if you wish to purchase more or sell your shares in the property. It is often left to you as the homeowner to source this RICS valuation not the housing association or similar.

It is typical for this valuation to be based 100% market value with no restrictions on resale. RICS Valuers normally need to discount any additional value that may be attributable for the property due to it’s shared ownership nature.

Under the conditions of some shared ownership schemes any affect on value of the home improvements which you have made can be discounted from the valuation provided. If you think this may be the case, it is important that you check this with your housing association and notify the valuer in advance of the inspection.