VALUATION TYPES
Our Valuation Services
Somerset & Sinclair provide RICS Red Book valuations for residential and commercial property across London and nationwide. Each valuation type has its own specific requirements, timescales, and accepting bodies. We advise on the correct instruction before we begin.
Help to Buy
Lease Extension
Fair Market Valuation
Matrimonial Purposes
and fair asset
division.
Remote Desktop Valuation
Reinstatement Valuation
Probate Valuation
Portfolio Valuation
planning.
Right to Buy Valuation
negotiations with local
authorities.
Retrospective Valuation
Shared Ownership Valuation
Buy to Let Valuation
How is it different from an estate agent's valuation?
An estate agent’s figure is a marketing opinion. It is designed to win instructions and may reflect what a seller wants to hear rather than what the market will bear. It carries no professional accountability and will not be accepted by any lender, government body or court.
A RICS Red Book valuation is independent, evidence-based, and prepared by a qualified professional with formal liability for the advice given. When the figure matters, legally or financially, it has to be a RICS valuation.
Can it be combined with a survey?
WHAT IS A RICS RED BOOK VALUATION?
What Is a RICS Red Book Valuation?
A RICS Red Book valuation is a formal, independent assessment of a property’s market value, carried out by a RICS Registered Valuer in accordance with the RICS Valuation Global Standards — the professional framework that governs how valuations are conducted and reported in the UK.
The Red Book sets out strict requirements covering the valuer’s qualifications, the inspection process, how comparable evidence is analysed, and how the final opinion of value is reached and documented. A valuation prepared under these standards is not an estimate or a marketing opinion. It is a professionally accountable, legally defensible figure that can be relied upon by HMRC, mortgage lenders, housing associations, solicitors and courts.
WHO NEEDS A RICS VALUATION?
When Do You Need a RICS Valuation?
- Repaying or redeeming a Help to Buy equity loan — Homes England requires a RICS-compliant report
- Staircasing or selling a shared ownership property — your housing association requires an independent RICS valuation
- Extending a lease — the premium calculation is based on a RICS-assessed market value
- Probate and inheritance tax — HMRC requires a professionally prepared valuation of the estate
- Capital gains tax — an accurate historic or current valuation to establish the taxable gain
- Matrimonial and divorce settlements — an independent valuation accepted by both parties or the court
- Secured lending and remortgage — where a lender requires formal valuation evidence
- Commercial property transactions and asset reporting
VALUATION TYPES
Our Valuation Services
Help to Buy Valuation
Required when repaying or remortgaging against a Help to Buy equity loan. Homes England calculates your repayment as a percentage of your property's current market value, and that figure must come from a RICS Registered Valuer. The report must include a minimum of three comparable sales and is valid for three months. An estate agent's figure will not be accepted.
Lease Extension Valuation
The premium payable to extend a lease is calculated using a statutory formula based on the property's current market value, the existing lease length, and the ground rent. A RICS valuation is required before you can proceed formally. In London, where values are high and short leases are common, an accurate independent figure makes a material difference to what you pay.
Probate Valuation
HMRC requires a professionally prepared valuation of any property forming part of a deceased person's estate. The figure is used to calculate inheritance tax liability and must be defensible if challenged. We can prepare valuations at the date of death or retrospectively, and work directly with executors and solicitors.
Capital Gains Tax Valuation
If a property other than your primary residence has increased in value since acquisition, CGT is calculated on that gain. Accurate valuations at both acquisition and disposal are essential to ensure the correct tax is paid and to support your position if HMRC queries the return. We provide current and retrospective valuations for residential and commercial property.
Commercial Valuation
RICS Red Book valuations for offices, retail units, mixed-use buildings, and investment portfolios. Required for secured lending, lease renewals, acquisition due diligence, disputes, and asset reporting. Every instruction is handled by a qualified MRICS valuer with commercial market experience.
WHY SOMERSET & SINCLAIR?
Independent. Qualified. Accountable.
Every Somerset & Sinclair valuation is prepared by a fully qualified MRICS surveyor who is also a RICS Registered Valuer. We are independent of lenders, estate agents and developers. Our valuation is prepared for you, based on market evidence, and stands up to scrutiny.
- RICS Registered Valuers — the only qualification accepted for formal Red Book valuations
- Independent of lenders, agents and housing associations
- Residential and commercial valuation expertise across London and nationwide
- 50+ five-star Google reviews from buyers, landlords, solicitors and executors
Once your report is delivered we are available to answer questions and, where needed, to support you through any challenge or negotiation that follows.
Independent. Chartered. Working for You.
independent of lenders and agents, and experienced across London’s period property stock.
- Fully qualified MRICS surveyors — no junior staff
- Independent — we work for you, not the bank or the agent
- 50+ five-star Google reviews
- All London boroughs and nationwide
Once your report is delivered, your surveyor is available to talk you through it. That’s part of the service.
FRICS & MRICS Surveyors
Full membership, not associate level
Red Book valuation standard
Accepted by HMRC, courts and lenders
Professional indemnity insurance
Professional indemnity insurance on every instruction
FAQ
FREQUENTLY ASKED QUESTION
What's the difference between a RICS valuation and an estate agent's valuation?
I need to repay my Help to Buy loan. Do I really need a RICS valuation?
Yes. Homes England will not accept an estate agent’s figure or any informal assessment. The repayment amount is calculated as a percentage of your property’s current market value, and that figure must come from a RICS Registered Valuer. Without a compliant report, the redemption process cannot proceed.
The report is valid for three months from the inspection date. If your transaction overruns that window, a desktop update may be possible at a reduced fee. Speak to us early to avoid delays.
My housing association says I need a valuation to staircase. What does that involve?
A shared ownership staircasing valuation establishes the current open market value of your property. The price you pay for your next tranche of ownership is calculated from that figure. The inspection is straightforward and similar in scope to any other residential valuation. Your housing association will specify their requirements, and our report will be prepared to meet them.
Most housing associations require the report to be no more than three months old at the point of transaction. Book promptly once you decide to proceed.
How is a probate valuation different from a standard market valuation?
A probate valuation establishes the open market value of the property at the date of death, not the current date. In some cases these are the same. In others, particularly where significant time has passed, a retrospective valuation is required based on market evidence from the relevant date.
The figure is submitted to HMRC as part of the estate’s inheritance tax calculation. It must be accurate and defensible. We work directly with executors and solicitors and can prepare retrospective valuations where needed.