Independent Valuations

Help to Buy Valuation

If you are in a position to repay your Help to Buy loan then you will be required to obtain a Help to Buy compliant valuation in line with Target HCA requirements. 

A RICS valuation provides an independent assessment of the current market value of the property.  The government administrator requires the homeowner to provide a valuation report from a RICS registered valuer. The valuation is used to calculate the amount you will need to repay.

The report must be based on at least three comparable properties. An internal inspection is also made of the property. 

Chesterton Smart are able to provide a report to you within 5 working days.  The valuation is valid for 3 months from the date of inspection

Shared Ownership Valuations

If you looking to increase your share in the ownership of your home or sell your current property then you will require a valuation carried out by a RICS Valuer. 

You will be required to obtain the requirements of the Housing Association as different associations have different rules and requirements. Chesterton Smart’s valuations are carried out in accordance with the RICS Red Book. Depending on the requirements, we may take into account any improvements that have been made when assessing open market value. 

We will inspect the property and take into consideration the condition of the property but this is not inspected in detail. 

The valuation is valid for 3 months. If the sale has not completed during this time, we can undertake a desktop valuation to review and/or renew the valuation for an agreed fee. 

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Capital Gains Tax Valuation

Since 1982 any gain made from an investment property sale is the subject of Capital Gains Tax. 

Payment of tax is due on the increase in value. For residential property it may be 18% or 28% and is not applied to the total sale price of the property. The amount of tax is dependent on various factors which includes income and whether the property is held as an individual or joint names. 

Capital Gains Tax is payable on both residential and commercial properties. 

Chesterton Smart are experienced in providing a robust report for you to submit to your accountant or direct to HMRC.  This is helpful where an individual or entity is being charged much higher or lower tax rates than required.  

It is important to consider the condition and status of the property at that date of inspection. If you have already sold the property then we undertake a desktop analysis to establish the value at a specific point in time.

Matrimonial Valuations

Where an estate is subject to inheritance tax, it is likely that a RICS Red Book valuation is required to assist in calculating the inheritance tax due to HM Revenue & Customs. In your duty as an Executor, you will be responsible for discharging your duties to the Estate. Probate valuations are often retrospective and can date back many years.

A probate valuation prepared by Chesterton Smart is compliant with all the rules and regulations defined by the Red Book. We will provide the relevant assumptions in calculating the market value which can be justified if questioned.  

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