Shared Ownership Valuation in Gillingham

A shared ownership valuation is a RICS-registered assessment of your property's full market value that is required when staircase purchasing additional shares, selling your shared ownership property on the open market, or remortgaging. Unlike a standard mortgage valuation which may only confirm the property meets lender criteria, a shared ownership valuation provides a detailed market value that housing associations and mortgage lenders rely on for scheme-related transactions. The valuation takes into account comparable sales, current market conditions in Gillingham, and specific factors like lease terms and service charges that affect shared ownership properties.

Shared ownership valuations in Gillingham start from £195 for a standard RICS report with delivery within 5-7 working days. The exact fee depends on your property type, size, location within Gillingham, and your required turnaround time. For example, a larger property or one in a more complex development may require additional time to value. Priority services are available for an additional fee if you need your report faster, with a 3-5 working day turnaround available from £295. Get a quote for your specific property to receive an accurate price.

The property inspection typically takes 30-60 minutes depending on the property size and type, with our valuer measuring rooms, photographing key features, and assessing the overall condition. After the inspection, your formal RICS valuation report is usually delivered within 5-7 working days for the standard service, or 3-5 working days for our priority service. The timeframe may vary slightly depending on the complexity of your property and the current demand for valuations in the Gillingham area, but we always aim to deliver as quickly as possible.

Yes, if you want to purchase additional shares in your shared ownership property through staircasing, you will need a current RICS valuation to determine the price of those additional shares. Your housing association will use this figure to calculate how much you need to pay for the increased share percentage. For example, if your property is valued at £200,000 and you want to increase from a 25% share to a 40% share, you would pay 15% of the valuation figure. Most housing associations require the valuation to be dated within the last three months, so check with your provider before booking.

Yes, our RICS-registered valuations are accepted by all major housing associations operating in Gillingham, including Legal & General Affordable Homes, Places for People, Moat Homes, and Southern Housing. We ensure our reports meet the specific requirements of each provider, including their preferred format and any additional information they may request. Our valuers have experience working with all these housing associations and understand their specific criteria for staircasing, resale, and remortgage valuations.

Your valuation will reflect the current market value based on recent comparable sales in Gillingham and the wider Medway area. If property values have increased since you purchased, you may have gained significant equity in your property, which can benefit you when staircasing or selling. If values have decreased, this will be reflected in the valuation, though Gillingham has generally shown resilience with prices approximately 2% up on the previous year according to recent home.co.uk listings data. Either way, having an accurate, up-to-date valuation ensures you and any potential buyers or lenders have the correct information for your transaction.

Yes, shared ownership valuations can be used for remortgaging purposes, though you should check with your mortgage lender that they accept a standalone RICS valuation rather than their own lender-driven valuation. Many shared owners choose to remortgage to release equity, switch to a different lender for better rates, or simply to stay with their current lender. Our valuation report provides the independent market assessment that lenders require to make their lending decisions.

Several Gillingham-specific factors can affect your valuation. The town's excellent transport links to London via Gillingham station make it attractive to commuters, supporting demand. The ongoing regeneration projects at Chatham Waters and the former SGN Gas Works site are expected to boost values. However, properties in flood risk areas near the River Medway or in low-lying areas around The Square and High Street may require additional consideration. The local clay soils also mean shrink-swell subsidence is a factor to consider, particularly for properties with large trees nearby. Our valuers assess all these local factors when determining your property value.