Chartered Surveyors in barnet
We are a firm of Chartered Surveyors based in London providing a range of Residential Valuations and Surveys. We are also RICS (Royal Institution of Chartered Surveyors) Registered Valuers.
rics home surveys
lease extension and enfranchisement valuers
Market VALUATION REPORTS
Shared Ownership & Shared Equity
RICS HOME SURVEYS
Lease Extension Valuation, Barnet, London, EN5
A leaseholder in Barnet whose lease was nearing 80 years instructed us to undertake a lease extension valuation and advise on the likely costs of extending their lease in accordance with the leasehold reform housing and urban development act 1993. They were also interested in finding out the difference in costs if they were to approach the freeholder directly. Our Chartered Surveyor was able to advise on all likely costs and the best approach.
Inheritance Tax Valuation, Barnet, London, EN5
We were contacted by the executor of an estate who was dealing with a short lease flat. The client needed a market valuation of the property in order to deal with any tax implications. Our chartered surveyor inspected the property and provided his professional opinion as to the market value.
Shared Ownership Valuation, Barnet, London, EN5
A previous client contacted us regarding a market valuation of a shared ownership house. Their intentions were to purchase more equity from the housing association and needed a report from a chartered Surveyor and RICS registered valuer. We were able to inspect the property and provided out professional opinion as to the market value of the property.
Lease Extension Valuation, East Barnet, London, EN4
We were instructed by a leaseholder to undertake a lease extension valuation as their lease had dropped below 80 years. The leaseholder was interested in purchasing the freehold, however there were not enough participants in the building to qualify. We were able to advise and successfully negotiate a fair premium for our client.
RICS Building Survey Report, Barnet, London, EN5
Unusually for a Building Survey, this was a former Congregational Meeting Hall . A Building Survey was chosen because it was an early Victorian property, with implications for alterations and maintenance.
Originally constructed as a chapel, the property has a rear former industrial building, together with a central infill. The property had been formerly converted to provide multiple unit residential accommodation, but is currently occupied as a single family home. A number of significant defects and maintenance issues were detected, including rotted external doors and windows, roof coverings, and dampness and spalling to many areas of solid brick masonry.
RICS Homebuyer Survey Report, High Barnet, London, EN5
A homebuyer survey was chosen by our client, as the property was a Victorian mid terraced house.
Our inspection revealed no major defects, although we reported on some maintenance and repairing issues regarding external solid masonry brickwork, and the sliding sash timber windows, some of which had broken cords, which can be awkward and expensive to repair.
rics home surveys
Buying a property to call your home or an investment is one of the most expensive purchases of your life so why risk it by not having a survey for a fraction of the price?
Both the Royal Institution of Chartered Surveyors (RICS) and the Law Society recommend nearly all property purchases should include a Survey.
According to a survey conducted by RICS, buyers who did not get a Survey faced, on average, £5750 in repair costs.
A mortgage valuation is strictly for the lenders benefit which means that the Surveyor has a duty of care to the bank and not you. Many Mortgage Valuers are instructed to carry out a cursory inspection of the property, if they even see it at all, and possibly to not even provide you with their report. Their report is primarily to satisfy the mortgage lender that the amount they are lending you is protected. Our reports have a duty of care purely to whoever is instructing us.
If a Survey indicates that there are hidden defects that require expensive repairs, you could potentially bring this to the sellers attention to reduce the asking price or require them to undertake the works before you buy.
lease extension and enfranchisement valuers
There are a number of elements to a Lease extension valuation or an Enfranchisement Valuation, that we can advise on and provide.
We can also advise on whether the statutory or voluntary route is appropriate for your given circumstances.
Under the statutory route, the ground rent will reduce to a peppercorn which means that a calculation of how to capitalise it is made. The Landlords reversionary value is calculated as there will be a deferment of the property being returned to them. Where leases are below 80 years, Marriage Value also applies.
Under the voluntary route, there is more flexibility for the parties to determine the length of lease extension (statutory route is 90 years) and how the ground rent is altered. However, it relies on voluntary agreement between the parties.
Collective enfranchisement includes a similar calculation but also includes issues such as development value and appurtenant land.
We’ve been providing Property Valuations in North London for years. When people look for local Surveyors in North London, we like to think we’re one of the first names that spring to mind.
Local knowledge can make a difference in getting a Valuation right. Even with Home Surveys, the property types in one part of London or in Hertfordshire may vary from elsewhere. We know the typical defects because we see them regularly. Even to the point where we can look at the front of a property from the roadside and we’ll have a good idea of what defects are likely to be found before we’ve even set foot inside.
We pride ourselves on both the high quality of our reports and also being the friendly face or voice at the end of the phone. When you’re buying a property or involved in any kind of property transaction, it’s a hugely important matter. Getting it right first time makes a difference and we’re proud of the service we offer.