Shared Ownership Valuation in Kenchester

A shared ownership valuation is a specialized assessment carried out by a RICS-registered valuer to determine the current market value of your property. This valuation is different from a standard mortgage valuation as it calculates the full market value of the property, not just the share you currently own. The housing association that holds the lease on your property will use this valuation to calculate the price you will pay for any additional shares, or the amount you will receive if you sell your share.

In the HR4 postcode area, which includes Kenchester and the surrounding Herefordshire countryside, property values range considerably from around £50,646 for smaller leasehold flats to over £1.6 million for substantial freehold houses. This broad range reflects the diversity of housing in this part of Herefordshire, from village cottages to larger family homes. Your valuation will take into account the specific characteristics of your property, its location within Kenchester, and current market conditions.

Our valuers understand the local Kenchester market and the factors that affect property values in this part of Herefordshire. We provide comprehensive valuation reports that satisfy all requirements from your housing association, mortgage lender, and any other parties involved in your shared ownership transaction.

• Staircasing assessments
• Remortgage valuations
• Resale valuations
• Initial shared ownership valuations

Only valuations carried out by RICS-registered valuers are accepted by housing associations and mortgage lenders for shared ownership purposes. This requirement exists because RICS valuers adhere to strict professional standards and the Red Book (RICS Valuation - Global Standards), ensuring that valuations are accurate, impartial, and compliant with regulatory requirements. Using a non-registered valuer could delay your transaction or result in it being rejected by your housing association or lender.

Our team of RICS-registered valuers has extensive experience in the Herefordshire property market, including the Kenchester area. We understand the unique characteristics of properties in this part of rural Herefordshire and can provide valuations that reflect current market conditions. Whether your property is a modern development or a period home in Kenchester village, we have the local knowledge to deliver an accurate assessment.

The HR4 postcode area, which encompasses Kenchester and the wider Herefordshire countryside, has seen an 8.9% price change in the Kenchester sector over the last 12 months. This shows an active market where accurate, up-to-date valuations are essential for any shared ownership transaction. Our valuers stay current with local market trends to ensure your valuation reflects real market conditions.

Staircasing is the process by which shared ownership leaseholders can purchase additional shares in their property, working towards 100% ownership. In Kenchester and throughout Herefordshire, this process requires a fresh valuation each time you wish to staircase, as the housing association needs to know the current market value to calculate the price of the additional shares you want to buy. The percentage you pay for the additional share is based on the current market value, not the price you originally paid.

Many shared ownership buyers in the Kenchester area choose to staircase in stages, for example starting with a 25% share and increasing to 50%, then 75%, and finally to 100%. Each staircase transaction requires its own valuation, and you have the right to request a valuation from a RICS-registered valuer of your choice. Our valuers are familiar with the staircasing process and can provide you with the documentation your housing association requires.

It is worth noting that some housing associations may have restrictions on staircasing, particularly in developments where they want to maintain a certain level of affordability. Always check with your housing association about their specific staircasing policy before proceeding. Our team can also provide guidance on what to expect based on our experience with shared ownership properties in the Herefordshire area.