This project involved obtaining a client brief, undertaking a survey of 4 blocks of privately owned flats to ascertain their condition, providing a feasibility report with cost estimates, preparing a specification of works and obtaining tenders, appointing a contractor, contract administration including cost control, agreeing a final account with the appointed contractor. Contract Value £130,000.
RAAC is a lightweight form of concrete used in roof, floor, cladding and wall construction in the UK from the mid-1950s to the mid-1980. We believe it was used by some municipal architects primarily in office and schools, but RAAC has been found in a wide range of buildings, not all of which are still in the public sector.
The limited durability of RAAC roofs and other RAAC structures has long been recognised; however recent experience (which includes two roof failures with little or no warning) suggests the problem may be more serious than previously appreciated and that many building owners are not aware that it is present in their property.
Following tests carried out by the Building Research Establishment, it was thought that RAAC planks gave adequate warning through visual deterioration before failing. However, the two recent failures show this can no longer be relied upon.
Redmond & Associates have experience in surveying buildings for the presence of RAAC and can advise on its condition and repair/replacement.
Please contact ourselves to obtain a fee quotation.
When a couple separate, the assets of the two will need to be valued and this will often include property. A report will need to be prepared by an RICS Registered Valuer who will determine the market value of the property at a given date.
This can be either for use in relatively informal settlements between the parties or for use in more formal court proceedings and would be governed by the RICS Red Book guidance in either case and often Part 35 of the Civil Procedure Rules (CPR) 1998 (the set of rules governing the procedure of the several courts in England, Wales and Northern Ireland).
It is most common for each side to the dispute to instruct their own solicitor in the first instance. The solicitors will then look to select a Chartered Surveyor. The surveyor/valuer who is chosen will have to ensure that there a no conflict of interest in accepting a joint instruction and will have to carefully abide by the RICS Guidance.
The duty as an expert witness is to the Tribunal or Court to which the expert evidence is given which overrides any contractual duties to your clients. Your duty is to set out the facts in full and give truthful, impartial and independent opinions in respect to all relevant matters.
Trusts of Land (TOLATA) Valuations
The Trusts of Land and Appointment of Trustees Act 1996 is most commonly utilised where a couple splits and the interest in an asset is disputed. This breaks down to the percentage each side should receive when the asset is sold or ownership transferred.
The Act can also force the sale of an asset. The law, in the case jointly held title assumes 50/50 ownership unless there is an agreement in place, such as a trust deed however when there is no written agreement and one of the parties claims a more substantial contribution to the property, such as initial mortgage deposit, general maintenance or improvements when the matter can be determined with the instruction of appropriately qualified solicitors.
In conjunction with this dispute a RICS Chartered Surveyor acting as a single joint expert, will need to value the asset/property and be instructed to produce a report and even give evidence in Court if necessary.
If you wish to discuss Matrimonial Valuations in more detail, or for further information on any of our professional services please don’t hesitate to get in touch. We can be reached on 01342 833448 or by emailing This email address is being protected from spambots. You need JavaScript enabled to view it..
The immediate period following the death of a relative or close friend can be extremely upsetting. Rational thinking is necessary so that the deceased’s affairs can be resolved as quickly as possible and all the intended financial beneficiaries can receive their share.
Why Do I Need a Probate Valuation?
After a family member has passed away, their estate will need to be valued so that a Grant of Representation (the legal right to deal with the estate) can be obtained.
The purpose of carrying out a probate valuation is to:
- ascertain an accurate value of the estate left behind by the deceased
- enable the executor to assess whether there is sufficient value in the estate to cover any liabilities left by the deceased
- calculate how much (if any) Inheritance Tax is payable on the deceased’s estate
Inheritance Tax (IHT)
Inheritance Tax is only payable if the estate was worth more than £325,000 at the date of death. This is called the Inheritance Tax threshold or ‘nil rate band’, and is set by the Government.
Married couples and civil partners can make gifts of any value to each other during their lifetime that are not subject to Inheritance Tax. This is known as ‘spouse of civil partner exemption.’ An estate is also IHT exempt if the deceased left everything to their wife, husband or civil partner who is permanently a resident in the UK.
The executor of the Will or administrator of the estate typically has to pay any Inheritance Tax due by the end of the 6th month after the date of death, or interest will be charged on the outstanding amount.
Professional Probate Valuations
Since any estate can be subject to IHT, a RICS Chartered Surveyor will need to carry out a probate valuation, on an impartial basis. This type of report is usually referred to as a Red Book Valuation.
Estate Agents are not bound by the same rules and regulations as Surveyors, who will face recourse if their probate valuation turns out to be incorrect.
Even if it is your intention to sell the property, you will still be required to submit a Surveyor’s Report with a professional probate valuation in order to obtain probate. Probate will need to be granted so that the ownership of the asset can be transferred to the beneficiaries – no sale can take place without probate.
If the eventual sale price of the property is found to be noticeably different to that of any probate valuation, this is likely to be picked up by HMRC and the Surveyor will have to justify his valuation or revise the figure if necessary.
If you wish to discuss Probate Valuations in more detail, or for further information on any of our professional services please don’t hesitate to get in touch. We can be reached on 01342 833448 or by emailing This email address is being protected from spambots. You need JavaScript enabled to view it..
Numerous developments have been sold over the past decade offering owners either the option to own a percentage of the property or to take out an equity loan against part of it. In either case, when the property is sold, the percentage which the leaseholder does not own or has a loan against will need to be valued in accordance with the RICS Red Book.
Help to Buy
The Government’s Help to Buy Loan Scheme has been running since April 2013 and is open to first-time buyers and home movers of new-build homes in England up to a purchase price of £600,000. The purchaser is lent up to 20% of the cost of the home leaving just a 5% deposit and a lender willing to offer a 75% mortgage.
This not only means that it is easier to raise the funds for a 5% deposit but lenders should also be able to offer more competitive rates than they otherwise would have. In good news for those inside the M25, 2015’s Autumn Statement increased the equity loan it gives new buyers within Greater London from 20% to 40%.
No interest is paid on the 20% (or 40%) loan for the first five years. In the sixth year a fee of 1.75% of the loan’s value is charged. After this, the fee will increase every year using the Retail Prices Index plus 1%.
If you wish to discuss Shared Ownership Valuations in more detail, or for further information on any of our professional services please don’t hesitate to get in touch. We can be reached on 01342 833448 or by emailing This email address is being protected from spambots. You need JavaScript enabled to view it..
