Shared Ownership Valuation in Marston Magna

A shared ownership valuation is a specific type of RICS property valuation that differs significantly from the basic mortgage valuation that lenders conduct when approving your initial loan. When you first purchased your shared ownership property, the valuation established the initial market value and the percentage share you were able to buy. However, as the housing market changes and you wish to increase your share through staircasing, the housing association needs an updated valuation to determine the current market value of both your share and the remaining equity held by the housing association.

In Marston Magna, where property values have experienced notable fluctuations, obtaining an accurate and up-to-date valuation is particularly important. With semi-detached properties averaging around £205,000 and detached properties reaching approximately £395,000, the equity implications of a staircasing transaction can be substantial. Our RICS certified valuers understand the local Marston Magna market, including recent sales data from the village and surrounding BA22 area, to provide an accurate valuation that reflects current market conditions.

Beyond staircasing, you may need a shared ownership valuation if you are remortgaging your current share to secure a better interest rate, or if you wish to explore equity release options. Mortgage lenders will require a formal RICS valuation report before approving any additional borrowing against your property. The valuation report also provides you with valuable information about your property's current market position, which can inform your decisions about whether now is the right time to staircase or explore other financial options.

• Staircasing to increase your share
• Remortgaging your shared ownership share
• Equity release calculations
• Housing association assessments
• Help to Buy scheme requirements

Our valuers understand the unique characteristics of properties in Marston Magna, which influences how we approach your shared ownership valuation. The village contains a significant number of historic properties, with 19 listed buildings ranging from the medieval Church of St Mary to 17th-century manor houses and farm buildings converted into residential properties. Properties constructed from local stone with Ham stone dressings, Welsh slate roofs, and thatched roofs require specific consideration when assessing market value, as their character and construction quality can significantly impact appeal to buyers.

The local geology also plays a role in property values and mortgageability. Marston Magna sits largely on sandy loam with limestone and gravel, though the north-eastern areas contain Lower Lias clay which can present shrink-swell risks affecting foundations and structural integrity. Additionally, the A359 road through the village, particularly near the church and village hall, has historically been prone to flooding, though significant drainage works were completed in 2022 to mitigate these issues. Our valuers consider these environmental factors when assessing your property, as they can influence both market value and the willingness of lenders to approve mortgage applications.

The Wickham Farm development on the edge of Marston Magna represents newer housing stock in the area, with planning permission for eight new-build properties and one barn conversion. These modern properties offer an alternative to the older character homes that dominate the village centre, and their sale prices provide additional comparables for our valuation analysis. Whether your shared ownership property is a modern semi-detached house or a converted stone cottage, our valuers have the local knowledge to provide an accurate assessment.