Shared Ownership Valuation in Frome

A shared ownership valuation is a specialized assessment carried out by a RICS registered valuer to determine the open market value of your property. This valuation is essential for several reasons. If you are looking to staircase (buy more shares in your property), the valuation will determine how much additional equity you need to purchase. For those wishing to sell their share, the valuation sets the price for the percentage you own. Housing associations and mortgage lenders require this official valuation before any transaction can proceed, whether you are working with Selwood Housing, Aster Group, or another provider.

In Frome, the shared ownership market has expanded considerably with developments from Selwood Housing, Aster Group, and LiveWest offering properties across various price points. Recent examples show shared ownership homes with open market values ranging from £275,000 for a three-bedroom resale at 20 Lily Road to £335,000 for properties at Francis Fields. At Keyford Field Cottages in Little Keyford, shared ownership properties have been marketed from around £270,000. The valuation process considers these local market conditions, the condition of your property, and comparable sales in the area to provide an accurate figure that reflects the true worth of your home.

Our valuers will inspect your property, review recent sales data for similar homes in Frome, and produce a comprehensive report that meets RICS standards. This report is accepted by all housing associations, mortgage lenders, and solicitors involved in shared ownership transactions. The turnaround time is typically 5-7 working days from the property inspection, though we can often accommodate tighter deadlines if needed for time-sensitive staircasing transactions.

• Staircasing calculations
• Resale valuation reports
• Remortgage valuations
• Shared ownership remortgaging
• Help to Buy valuations
• First-port scheme valuations

Frome's property market has its own unique characteristics that affect property values. The town boasts over 370 Grade I and Grade II listed buildings, with most of the town centre designated as a Conservation Area since 1973. Properties in these protected areas may have restrictions that affect their market value, and our valuers understand how listed building status, Conservation Area constraints, and historic building techniques impact valuations. Frome is even believed to have more listed buildings per capita than Bath, making its architectural heritage particularly significant.

The geology of Frome also plays a role in property valuations. The town sits on Forest Marble and clay-rich Lower Lias soil, which can lead to shrink-swell ground movement affecting foundations. Properties in areas near Feltham Lane, Wallbridge, and Spring Gardens may also face flood risk from the River Frome and its tributary the River Mells. The East Mendip area around Frome also has historical coal mining activity, with former collieries at Vobster, Newbury, Mackintosh, and Mells potentially affecting ground stability in some locations. Our valuers consider all these environmental and geological factors when assessing your property.

Additionally, Frome's proximity to Bath (approximately 13 miles) and Bristol makes it attractive for commuters, affecting property demand and values. Nearly half of the working population commute out of Frome for work, with approximately 2,700 people commuting into Frome daily. This commuter dynamics influences the types of properties in demand, with good transport links and parking facilities adding value to homes throughout the town.

When assessing shared ownership properties in Frome, our valuers pay particular attention to issues common in the local housing stock. Properties built from local stone, particularly those with lime mortar pointing, can suffer from erosion and weathering that affects their value. The Forest Marble and Doulting Stone used in many period properties, while durable, require ongoing maintenance, and our reports will note any deterioration that impacts market value.

In newer properties, particularly those built since the 1980s, we commonly find issues with flat roof coverings, window seals, and insulation levels that may not meet current standards. At Keyford Meadows, where properties feature modern sustainability measures including air source heat pumps and solar panels, we assess how these features affect both value and energy efficiency ratings. Properties with better energy performance typically command a premium in the current market.

Ground conditions also require careful assessment. The clay soils underlying much of Frome can cause subsidence or heave movement, particularly during dry summers or in areas with mature trees. Properties in the Wallbridge and Feltham Lane areas, which are closer to the river valley with alluvial deposits, may have different foundation considerations than those built on higher ground. Our valuation reports include all relevant observations about these local conditions.