Shared Ownership Valuation in L32 Kirkby

A shared ownership valuation is a specialised RICS Red Book valuation required by housing associations and mortgage lenders when shared ownership leaseholders wish to purchase additional shares in their property, remortgage, or sell their home on the open market. In L32, where shared ownership has become an increasingly popular route to homeownership, particularly at new developments such as The Heath, St Kevin's View, and The Pastures, understanding the valuation process is essential for leaseholders looking to maximise their investment. The valuation determines the full market value of your property, which directly impacts how much it costs to staircase or what price you can achieve when selling.

The valuation process differs from a standard mortgage valuation because it must determine the full market value of your property as if it were sold on the open market, not just the value of the share you currently own. Our surveyors in L32 will inspect your property, consider local market data for Kirkby and surrounding areas, and provide a comprehensive valuation report that meets the specific requirements of your housing association, whether Onward Homes, Livv Housing Group, or Plus Dane. We understand that each housing association has different documentation requirements and timelines, and we ensure our reports are formatted to satisfy their processes.

Properties in L32 present unique considerations for valuers. The area's predominant post-war housing stock, built primarily between 1945 and 1982, requires our surveyors to account for common defects such as aging roof coverings, outdated electrical systems, and potential damp issues when determining the property's value. Additionally, the underlying clay geology in parts of Kirkby can create subsidence risks that may affect property values in certain locations. With 42.6% of properties in L32 built between 1945 and 1964, our valuers have detailed knowledge of the construction methods and common issues affecting these age groups.

• Staircasing valuations
• Resale valuations
• Remortgage valuations
• Help to Buy valuations

The L32 area, particularly Kirkby, is characterised by post-war housing stock with approximately 42.6% of properties built between 1945 and 1964. This age profile means our surveyors frequently identify issues that can impact property valuations, and understanding these helps explain any adjustments made to your valuation figure. Many properties in the area were constructed with traditional cavity wall methods using red brick, which remains durable but may have been built to standards that differ from modern requirements. Properties built between 1965 and 1982 account for a further 26.1% of the housing stock, meaning the majority of homes in L32 are now between 40 and 80 years old.

One of the most common issues we encounter in L32 properties is damp. Properties built before the 1970s may lack adequate damp-proof courses, and the render finishes common on some Kirkby housing can deteriorate over time, allowing penetrating damp to take hold. Our surveyors inspect for signs of both rising and penetrating damp, as remediation costs can significantly affect the property's value. Similarly, roofing issues are prevalent, with many original roof coverings now approaching or exceeding their expected lifespan, leading to potential leaks and water damage. Concrete tile roofs common on 1960s and 1970s properties often show signs of degradation, and we factor these observations into our valuations.

The underlying geology in parts of L32 presents another consideration for valuations. The area sits on glacial till and clay soils, which can cause shrink-swell movement affecting foundations. While significant subsidence is not widespread in Kirkby, our surveyors will assess for any signs of structural movement, cracking, or damage that could indicate foundation issues. Properties with mature trees nearby are particularly susceptible to clay shrinkage during dry periods. Properties near the River Alt or in low-lying areas may also face surface water flooding risks, which we factor into our valuations where applicable. The proximity to watercourses and the local drainage infrastructure are important considerations for properties in certain parts of L32.

Another factor our surveyors consider is the potential presence of asbestos-containing materials in properties built before 2000. Textured coatings, insulation, and some roofing materials commonly used in post-war construction may contain asbestos, and while not necessarily affecting value significantly, this is something buyers and mortgage lenders increasingly want to understand. Our valuations note the property's age and construction type, which provides guidance on the likelihood of asbestos being present, though a specialist asbestos survey would be required for definitive identification.

Understanding which housing association holds the freehold of your shared ownership property is essential, as each has its own specific requirements for valuations and staircasing procedures. In the L32 area, Onward Homes is one of the largest providers, managing numerous shared ownership properties across Kirkby and the wider Knowsley borough. Their staircasing process typically requires a RICS Red Book valuation from an approved panel surveyor, and our team is familiar with their documentation requirements. Onward Homes allows leaseholders to staircase in minimum 10% increments, with the process taking typically 4-8 weeks from valuation instruction to completion.

Livv Housing Group also operates extensively in the Knowsley area, offering shared ownership properties through various developments. Their staircasing process involves an independent valuation to determine the current market value, and they allow leaseholders to purchase shares in increments of at least 10%. Livv Housing Group has a dedicated shared ownership team who can provide guidance on the staircasing process and any applicable costs. They are known for their responsive approach to leaseholder enquiries and can often expedite valuations where there are time-sensitive transactions.

Plus Dane Housing is another significant provider, and they have specific procedures for resales and staircasing that our valuers understand thoroughly. Plus Dane operates across the Liverpool City Region and has extensive experience in shared ownership transactions. Their staircasing process requires a current RICS valuation, and they provide detailed guidance on their website about the documentation required. When you instruct us, we will confirm your housing association's requirements to ensure the valuation meets their standards and avoid delays in your transaction.

The housing associations in L32 generally allow shared owners to staircase up to 100% ownership, although the specific terms vary between providers. Understanding your lease agreement and the staircasing provisions is important, and our surveyors can provide valuations that support your journey toward full ownership. Whether you are looking to increase your share from 25% to 50%, or from 50% to 75%, we provide the official valuation your housing association requires. Some leaseholders choose to staircase in stages, and we can provide updated valuations each time you wish to purchase additional shares, typically at intervals of at least 12 months depending on your housing association's policy.