Chartered Surveyors in golders green
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.
If you’d like to discuss one of our team providing you with a Market Valuation or Home Survey report, please call us on 020 8017 1943 or e-mail info@websterssurveyors.co.uk
Market VALUATION REPORTS
Shared Ownership & Shared Equity
RICS HOME SURVEYS
OTHER SURVEYS
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‘Getting it right’ in the property industry often requires professionals from different disciplines to work together. Solicitors and Surveyors for lease extensions, Valuers, Mortgage advisors and Conveyancing solicitors for home moves.
Common sense isn’t as common as it should be and strategic property advice can be missing at the expense of protocol and a ‘this is how we’ve always done it’ attitude.
We strive to offer advice that is not only compliant with industry practice but also which helps you achieve your property goals. We often do this by working alongside other professionals. For example, lease extension claims and enfranchisement claims are often a tactical affair involving both leasehold reform solicitors and Surveyors.
We like working with other professionals who provide good strategic advice as well as having the technical expertise to perform their duties. We are always happy to recommend other professionals and also to expand our network with suitable people who would like to work with us.
lease extension and enfranchisement valuers
A Lease extension premium comprises of three main parts.
- Compensation for the Loss of ground rent
- The affect on the Landlords (freeholders) reversionary value
- Marriage Value (where leases have 80 years or less unexpired)
In normal times, the longer you wait to extend your lease, the higher the cost will be. This increase in costs is even more pronounced once 80 years unexpired is reached as Marriage Value is added to the calculation, nearly always adding thousands if not tens of thousand of pounds onto the premium.
Even before 80 years unexpired is reached, some properties may become unsuitable for mortgage lending due to the unexpired term.
Extending a lease not only adds value (in nearly all circumstances) but also protects value for the future if done correctly.
Enfranchisement or Collective Enfranchisement when one leaseholder or a group of leaseholders buy a freehold to their property also allows them to gain control and grant longer leases if they wish, such as new 999 year terms. They can also then benefit from any development value and future premiums payable by any non participant leaseholders.
Statutory tax valuations
Our team of Surveyors are also RICS Registered Valuers have undertaken numerous Market Valuations for tax purposes over the years.
The most common two types are for Inheritance Tax and Capital Gains tax assessments.
With Inheritance tax, the date of Valuation is the date of death. Dealing with the estate of a loved one who has died is incredibly difficult at the best of times without having to meet additional regulatory requirements in order to gain probate. As such, we try to make the process as easy as possible with a simple online instruction, including payment link for our fee. Assuming access is possible to the property, we try to inspect and provide our RICS Reb Book compliant Market Valuation report within a few days. If the death was as a result of Coronavirus (Covid-19), our Inheritance tax Market Valuation report can still be provided but we’ll need to discuss additional practicalities around our inspection.
With Capital Gains tax, the Valuation date depends on a number of issues. For example, it could be when a property was transferred for no consideration such as transferring from an individual to a company within the same ownership. Valuations may also be April 2017 in some circumstances for UK companies and on a rare occasion April 1983 if a property was acquired on or before that date.