What is a Shared Ownership valuation?

Shared ownership valuations are required if you have purchased a property using a shared ownership scheme and wish to sell the property or purchase a larger share of the property. Housing associations (also known as HA) often offer a shared equity of property ownership. Housing associations have different rules regarding selling properties and repayment of loans.

The following rules are common throughout most Housing Associations.

If you wish to sell or pay off part of your loan, you will need to obtain an independent valuation from an RICS accredited Valuer. The practice should also be regulated by the Royal Institution of Chartered Surveyors. The valuer should be independent from any estate agency. Valuations should be carried out in accordance with the RICS Red Book ( a set of professional and ethical standards that valuers / valuations must adhere to.

Depending on the housing association and the reason for the valuation, home improvements that you have made may or may not be taken into account when assessing the current value of your home so you should check with your housing association if this is required and have relevant details for the surveyor if possible.

The surveyor will inspect the property and look at:

• Construction type

• Age

• EPC banding.

• Location

• Size

• Room type and quantity.

• The general condition of the property will also be taken into account, but will not be inspected in detail ( a condition schedule or building surveyor will not be undertaken).

Things to be aware of:
The valuation will be based on the surveyor’s observations, local knowledge and comparisons with recent sales of like-for-like properties in the local area.

The valuation is normally valid for 3 months.

If you need to renew the valuation after this period because your sale has not completed then we will need to carry out desktop research to extend the valuation for a further 3 months.