SURVEYS AND VALUATIONS STANDARD FEE SCALES – 2020

1.0     MORTGAGE VALUATIONS 

The purpose of this valuation is to satisfy the bank or building society that the property provides adequate security for mortgage facilities to be provided.  The report comprises a brief description of the property, a superficial inspection only of the condition, a market valuation for mortgage purposes, and a replacement valuation for insurance purposes.

Purchase Price                                           Fee                                           Minimum Fee
£0 – £300,000                                               0.150%                                                 £225.00
£300,001 – £600,000                                    0.125%                                                 £450.00
£600,001 – £1,000,000                                 0.100%                                                £750.00
Over £1,000,000                                          by arrangement.
Re-valuation letter                                     from £225.00 per visit.

Institutional valuation reports Fee Scale available upon request.

2.0     RICS HOMEBUYER REPORT

This comprises a relatively detailed inspection of the property and records any significant defects; reference is also made to less significant defects of a general nature. This report is only suitable for smaller properties such as a three-bedroom house or bungalow, built after 1900.  A RICS Home Buyer Report is not normally suitable for properties valued in excess of £1,000,000.00.

Purchase Price                                                  Fee                                                         Minimum Fee
Up to £900,000                                                  0.300%                                                 £1,000.00
£900,001 – £1m                                                by arrangement

3.0     BUILDING SURVEYS

This type of survey is the most in-depth property inspection provided.  The report will contain a detailed description of the building elements and will identify all visible defects.  It will also make certain recommendations in respect of concealed elements of the building.  If requested, an approximate estimate of the remedial work required can be provided.  A market valuation for mortgage purposes will be provided on the mortgage lender’s application form together with a replacement valuation for insurance purposes, if requested.

Fee:       Calculated on a time basis of £250.00 per hour (Chartered Surveyor)

4.0     MARKET VALUATIONS/PROBATE VALUATIONS

Fee scale in accordance with Section 1.0 above.  Any such valuation is prepared for the purpose of an assessment of the market value and is to be considered as an expression of opinion.  It is not a structural survey and is based on a superficial inspection only.

5.0     COMMERCIAL AND UPPER TIER RESIDENTIAL VALUATIONS

Fee:       By arrangement (but normally 0.2%)

6.0     SCHEDULES OF CONDITION/DILAPIDATION

Fee:       By arrangement (but normally on a time basis as 3.0 above)

N.B.       Fees quoted do not include, but are subject to, 5% GST