Shared Ownership Valuation Ince - RICS Registered Surveyors

A shared ownership valuation is a specialised assessment carried out by a RICS-registered valuer to determine the current market value of your property. Unlike a standard mortgage valuation, this report is specifically designed to meet the requirements of housing associations, mortgage lenders, and the leasehold terms of your shared ownership agreement. The valuation considers factors such as the size of your property, its condition, location, and comparable sales in the local Ince market. Our valuers examine recent sales data from properties in Ince, Wigan, Pemberton, and Hindley to ensure the valuation reflects true market conditions.

When you staircase (buy additional shares in your property), the housing association uses this valuation to calculate how much you need to pay for the extra percentage. For example, if your property is valued at £200,000 and you own 25% (£50,000), staircasing to 50% would require an additional payment of £50,000. Similarly, if you want to sell your share, the valuation helps determine the price at which you can list your property on the open market. Mortgage lenders also require this valuation before approving any remortgage application on a shared ownership home, as they need to ensure the property provides adequate security for the loan.

Our valuers understand the unique complexities of shared ownership properties in the Wigan area, including new build developments and older properties that may have specific survey requirements. We provide detailed reports that satisfy all parties involved in your transaction, ensuring a smooth process whether you are staircasing, remortgaging, or selling. The Wigan area has seen significant new housing development in recent years, with schemes like Willowbrook Fields offering shared ownership options, and our valuers have firsthand experience assessing these modern properties.

We also understand the local factors that can affect property values in Ince, including the area's industrial heritage and any environmental considerations that may impact the valuation. Our team will factor in all relevant local knowledge to ensure you receive an accurate and fair assessment that meets the requirements of your housing association and mortgage lender.

• Staircasing assessments
• Remortgage valuations
• Resale valuations
• Help to Buy valuations
• RICS compliance guaranteed

Several unique factors influence property valuations in Ince-in-Makerfield. The area has a rich industrial heritage, particularly in coal mining, which has shaped the local landscape and housing stock. Ince was historically famous for cannel coal and other varieties, with numerous collieries operating in the area. While this history is part of what makes Ince characterful, it does present specific considerations for property valuations. Properties in certain areas, particularly the Ince Central Estate, may be affected by historical subsidence related to shallow coal mining, and investigations have revealed a complex patchwork of contamination in the ground beneath some areas.

The geology of the Wigan area consists of Upper Carboniferous rocks with underlying Permo-Triassic deposits, which can affect ground stability in some locations. Our valuers are familiar with these local issues and will factor them into their assessment. The British Geological Survey identifies subsidence hazards from shrink-swell clay soils, and while specific risk levels vary, the presence of clay-rich soils in the wider area suggests potential considerations for certain properties. Additionally, the proximity of the River Douglas means some properties may have considerations around surface water and drainage that are reflected in our valuations, particularly in low-lying areas near the river corridor.

Despite these factors, property prices in Ince have shown positive growth, with a 6% increase in the last 12 months and prices now 9% above the 2023 peak. The area remains one of the more affordable locations in the North West, making it attractive for first-time buyers entering through shared ownership schemes. The ongoing regeneration of Wigan town centre, including the £135m transformation of the Galleries Shopping Centre, is expected to have positive ripple effects on the wider housing market. The area's excellent transport links via the M6, M58, and M61 motorways, plus train connections to Manchester and Liverpool, make Ince particularly attractive for commuters, which supports demand for housing in the area.

Our valuers take all these factors into account when assessing your property, combining local knowledge with market data to provide an accurate valuation that reflects the true worth of your home in the current market. We understand that shared ownership properties may have additional considerations compared to standard freehold properties, and our reports are tailored to meet the specific requirements of housing associations and mortgage lenders. Whether your property is a modern new build at Willowbrook Fields or an older property in a established part of Ince, we have the expertise to provide a valuation that you can rely on for your staircasing, remortgage, or resale transaction.

• Historical mining activity
• Subsidence risk areas
• Surface water considerations
• Local regeneration impact