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Shared Ownership Valuation

Shared Ownership Valuation in Cobham

Red Book reports for staircasing, assignment, re-mortgage, and lease extension.

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RICS shared-ownership valuations for Cobham

Shared ownership in Cobham, Gravesham often needs a Red Book valuation before the paperwork moves. Our RICS-registered valuers produce reports accepted by housing associations, with a fixed fee from £350 and a turnaround of 5 working days after inspection. That helps when you are staircasing, selling your share, re-mortgaging, or dealing with a lease extension. The process is formal, and the valuation has to be done properly the first time.

This is Cobham in Gravesham, Kent, not the Surrey town. The local setting is small and historic, with Cobham having been a conservation area since 1970 and four named conservation areas in the village, Church Cobham, Downside Village, The Tilt, and Plough Corner. That mix matters because older homes, listed buildings, and conservation controls can shape the evidence a valuer uses. Our team writes the report in the format housing associations expect, so you are not left fixing avoidable admin later.

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Cobham Local Snapshot

1,469

Cobham parish population (2011 census)

1,497

Estimated parish population (2024)

Since 1970

Conservation area status

4 Grade I, 3 Grade II*, 38 Grade II

Listed buildings in Cobham

Using listing data from home.co.uk and property data from homedata.co.uk

When You Need a Shared-Ownership Valuation

A shared-ownership valuation is usually needed when your lease says a formal market figure has to be set before a transaction can move. In Cobham, Gravesham, that can mean staircasing, final staircasing, selling your share by assignment, re-mortgaging, or asking about a lease extension. Housing associations generally want a Red Book report because it follows the RICS Valuation Global Standards framework, so the figure is not just a guess from a sales brochure. It is a professional opinion tied to the open market.

Staircasing is the most common trigger. If you want to buy more shares in your home, the housing association normally wants the current open market value first, then it prices the extra share from that figure. The same applies when you are buying the last share and moving to 100% ownership, known as final staircasing. After that point, the unsold share disappears and the rent on it stops.

Selling a shared-ownership home works differently, because the process is usually called assignment. The housing association often has a nomination period of 4-8 weeks to find a buyer before you can market the home more openly. That is one reason the valuation date matters so much, especially in a village like Cobham where much of the housing stock sits around Church Cobham, Downside Village, and the wider parish boundary rather than a large estate.

Staircasing
Final staircasing
Assignment when selling your share
Re-mortgaging
Lease extension

What Housing Associations Usually Accept

Report turnaround 5 working days

Validity window 3 months

RICS-registered valuer Required

Homemove shared-ownership valuation service standard

Staircasing: What the Valuation Determines

The valuation tells the housing association what the home is worth on the open market today. That figure is then used to price the extra share you want to buy. In simple terms, the extra share is the valuation multiplied by the percentage you are buying, before legal fees, lender costs, or any notice charges are added.

A simple example helps. If the report values the home at £400,000 and you are buying an extra 25%, the extra share is priced from £100,000. In Cobham, that sort of calculation can matter on homes near Cobham Hall, the Darnley Mausoleum, or the older cottages around the conservation areas, because condition, setting, and comparable evidence can shift the final figure. For older shared-ownership schemes, a minimum 10% staircasing step is common. Under the New Model rules, 1% annual staircasing is possible on schemes sold after 2021, subject to the lease terms.

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Staircasing: What the Valuation Determines

Staircasing, Selling, and Re-mortgaging Compared

Route	What the valuation is for	Who usually pays
Staircasing	Sets the price for the extra share you want to buy	The leaseholder
Final staircasing	Sets the price of the last share before 100% ownership	The leaseholder
Selling your share	Supports the assignment process and the housing association's sale price check	The leaseholder
Re-mortgaging	Gives the lender and housing association a current market figure	The leaseholder
Lease extension	Helps work out the premium on the lease extension	The leaseholder

Booking Your Shared-Ownership Valuation

Instruct us

Send the property details, your leasehold information, and the reason you need the valuation. We confirm the value band and book the right surveyor for Cobham, Gravesham.

Arrange access

You or your agent arrange access to the home. If the property is occupied, we work around agreed times so the inspection can take place without delay.

Inspection day

Our RICS-registered valuer visits the property, notes the condition, the layout, the finish, and anything that affects value. In Cobham, older homes near the conservation areas can need closer attention to condition and comparables.

Red Book report

We prepare the valuation report within 5 working days of the inspection. The report states the open market value in the format your housing association expects.

Submit it

You send the report with your staircasing, sale, or re-mortgage application. If the housing association asks for an updated copy before the 3 months are up, we can advise on the next step.

Valuations usually expire after 3 months

Timing matters. Housing associations in shared ownership are strict about validity, and a Red Book valuation is normally accepted for 3 months from the inspection date. Book the inspection close to the date you expect to submit your application, not long before it, or you may end up paying for a fresh report. That is especially annoying when your solicitor, mortgage lender, and housing association all ask for documents at different times.

Local Shared-Ownership Considerations in Cobham

Cobham, Gravesham is a small parish, not a large town, so local valuation work tends to be about precision rather than volume. The village had a population of 1,469 at the 2011 census, with an estimated 1,497 in 2024, which tells you how small the market is. That matters because fewer comparable sales can make a valuer lean more heavily on exact property type, condition, and location within the parish. A home near Church Cobham can read very differently from one closer to Downside Village or the wider edge of the conservation area.

The historic fabric is a big part of the picture. Cobham has been a conservation area since 1970, and Gravesham Borough Council maps the protected area across Church Cobham, Downside Village, The Tilt, and Plough Corner. The village also contains four Grade I listed buildings, three Grade II* listed buildings, and 38 Grade II listed buildings, including Cobham Hall and the Darnley Mausoleum. In that kind of setting, a Red Book valuer will look past postcode labels and focus on the actual evidence.

There is another practical point. Rather than rely on a town-wide figure, we check the specifics for your exact address. That means many instructions here are likely to be resale staircasing, assignment, or re-mortgage work rather than a handover on a fresh estate. Cobham Hall, which operates as a boarding and day girls' school, and the nearby Kent Downs National Landscape also shape the local profile, but the valuation still has to stay rooted in the home itself, not the postcard view.

Shared ownership in a small conservation village can feel slower than it should. Papers move between you, the housing association, the mortgage lender, and sometimes the solicitor, and each party wants the correct date on the report. We keep the process plain, and we keep the wording of the valuation aligned with what housing associations usually ask for.

Reading the Valuer's Figure

The phrase “open market value” is the core of the report. It means the valuer’s opinion of what the whole property would sell for on the open market on the inspection date, assuming a normal sale and a willing buyer. That figure is not built from a single asking price. It comes from comparable evidence, the property’s condition, the tenure, the location, and the saleability of similar homes.

In Cobham, comparables might come from a similar flat, terrace, semi-detached home, or older listed property within the village boundary, but only where the comparison is fair. A home near Cobham Park will not be treated the same as a modern flat elsewhere, and a property in Church Cobham may need a different adjustment from a house closer to the parish edge. If the condition changes after the inspection, or if the report has to reflect something the valuer could not see, you can ask for a re-inspection. A full challenge to the figure is unusual, because the valuation is the valuer’s professional judgement under the Red Book framework.

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Frequently Asked Questions

How long is a shared-ownership valuation valid for?

The report is usually valid for 3 months from the inspection date. Housing associations tend to enforce that strictly, so a report that is too old can be rejected even if the market has not moved much. In Cobham, that can be frustrating because the local market is small and the paperwork can take time to circulate.

What triggers a shared-ownership valuation?

Staircasing, final staircasing, selling your share, re-mortgaging, and lease extension work are the usual triggers. Each one needs a current market figure, and the housing association normally wants a Red Book valuation from a RICS-registered valuer. If your lease says the valuation must be current, the report date matters just as much as the number in it.

Who pays for the valuation?

In most shared-ownership cases, the leaseholder pays for the valuation. That applies whether you are buying more shares, selling your share by assignment, or asking for a report for a re-mortgage. Some leases are drafted differently, so it is wise to check your paperwork before you book.

How long does the inspection and report take?

The inspection itself is usually a single visit, then we produce the Red Book report within 5 working days of the inspection. The wider process can take longer because the housing association, the lender, or your solicitor may need time to review the documents. In a place like Cobham, the report timing is often quicker than the admin around it.

Can I dispute the valuation figure?

You can ask for clarification if something in the report looks wrong, and you can request a re-inspection if the property condition has changed or access was limited. A direct dispute over the figure itself is less common, because the valuation is based on comparable evidence and the valuer’s professional judgement. If you think the wrong property details were used, raise that straight away.

What if my housing association rejects the valuer?

Some housing associations have their own requirements around who can inspect the property, and they may reject a report if the valuer is not suitably qualified or the format is wrong. Our reports are prepared by RICS-registered valuers in Red Book format, which is what major housing associations usually want. If your association has a particular form or wording request, tell us before the inspection.

Can I staircase in 1% increments?

On New Model shared ownership homes sold after 2021, 1% staircasing is possible, usually once a year and subject to the lease terms. On older schemes, the minimum step is usually 10%, so you cannot assume the 1% model applies. Cobham has older homes and conservation-area properties as well as more modern stock, so the lease date is the key detail.

What happens at final staircasing?

Final staircasing means you buy the last share and own 100% of the property outright. Once that is complete, the rent on the unsold share stops because there is no unsold share left. You still need the usual legal work, and the valuation still has to be current when you start the process.