Shared Ownership Valuation in EX17 (Crediton)

A shared ownership valuation is a specialised assessment carried out by a RICS-registered valuer to determine the current market value of your shared ownership property. This valuation is distinct from a standard mortgage valuation or a building survey, as it specifically addresses the fractional ownership model used by housing associations and shared ownership schemes. The valuer will assess both the full market value of the property and the percentage share you currently own.

In the EX17 area, which encompasses Crediton and numerous surrounding villages, the housing stock varies significantly. From modern developments to historic properties including listed buildings and barn conversions, our valuers have extensive local knowledge of the Mid Devon property market. This local expertise ensures your valuation reflects accurate, up-to-date market conditions specific to your village or neighbourhood. We regularly value properties in areas like Bow, Lapford, Copplestone, and Zeal Monachorum, each with their own market characteristics.

The valuation report satisfies requirements from all major UK housing associations and lenders, including Orbit, LiveWest, Hyde, and others. Whether you are staircase to increase your share, selling your share back to the housing association, or remortgaging your portion of the property, our valuation meets industry standards and regulatory requirements. We understand the specific documentation each housing association requires and ensure our reports are formatted accordingly.

Our valuers are familiar with the various property types found throughout EX17, from Victorian terraces in Crediton town centre to modern link-detached homes in developments like those near Bridge Meadow Close in Lapford. We also have specific expertise in valuing properties with unique characteristics, including those with river frontage to the River Creedy, properties in conservation areas, and historic buildings including listed mill houses and thatched farmhouses.

• Staircasing assessments
• Shared ownership remortgaging valuations
• Help to Buy equity loan valuations
• Housing association consent valuations
• Part-exchange and resale valuations

The EX17 postcode covers the market town of Crediton and its surrounding villages, offering a diverse range of properties from modern family homes to historic period residences. Crediton itself provides excellent local amenities, including a Tesco Superstore, Waitrose, various independent shops, and regular farmers markets. The town also serves as a commuter location for Exeter, which is approximately 10-11 miles away, making it attractive to professionals working in the city. This proximity to Exeter significantly influences property values in the EX17 area, particularly for properties suitable for daily commuting.

Shared ownership properties in the EX17 area may include modern estates on the outskirts of Crediton, converted properties in villages such as Bow and Lapford, and affordable housing schemes like those in Spreyton. The variation in property types and locations means each shared ownership valuation requires a tailored approach, considering factors such as local school catchments, transport links, and village amenities. We have valued properties across all these locations and understand the specific market dynamics in each village.

The rural character of much of EX17, with its beautiful open countryside, pastureland, and mature woodland, adds to the appeal of properties in this area. However, buyers should also consider factors such as flood risk near the River Creedy and the presence of conservation areas in villages like Zeal Monachorum. Our valuers take all these local factors into account when assessing your property. We check current Environment Agency flood risk data and are familiar with the river's behaviour, having valued several properties with frontage to the River Creedy.

Properties in the EX17 area include a mix of construction types and ages. The region has a significant stock of period properties, including historic farmhouses and former mill houses dating back several centuries. Modern developments have also been built in recent years, particularly on the outskirts of Crediton. When valuing your property, we consider its specific construction type, materials, and condition, as well as any historic features that may affect value, such as thatch roofing or exposed beam interiors commonly found in properties like barn conversions in Copplestone.

• Crediton town centre properties
• Village locations in Bow, Lapford, Copplestone
• Properties near River Creedy
• Conservation area properties
• Modern housing estates

Staircasing is the process by which shared ownership leaseholders can purchase additional shares in their property, eventually owning 100% if desired. If you are considering staircase in the EX17 area, you will need a current RICS valuation to determine the price of the additional share. Housing associations use this valuation to calculate how much you need to pay to increase your ownership percentage. The valuation must be carried out by a RICS-registered valuer and must reflect current market conditions.

The amount you will pay for additional shares depends on the current market value of your property. In the EX17 area, property values have shown variation across different property types and locations. For example, a three-bedroom terrace in Bow might have a different valuation profile compared to a four-bedroom detached property in Colebrooke or a barn conversion in Coleford. Our valuers understand these local market nuances and will provide an accurate assessment based on comparable sales in your specific area.

It is worth noting that some properties may have restrictions on staircase, particularly those in certain affordable housing schemes or with specific covenants. Our team can advise on whether there are any limitations on staircase for your particular property. We have experience working with various housing associations and understand their specific requirements for staircase valuations in the Mid Devon area.

Once you receive your staircase valuation, you will have a clear understanding of the cost to purchase additional shares. This information allows you to plan your finances and make informed decisions about your shared ownership property. If you have any questions about the staircase process or what the valuation means for your specific situation, our team is here to help.