Surveys
Introduction

Purchasing a home is probably the largest single investment most people will make in their lives.  The majority of house buyers think that a mortgage report will reveal all they need to know about the property they are buying. IT DOES NOT!  A mortgage valuation is a limited check on the property that a mortgage lender carries out to ensure that it is worth the money they are lending.  There may be structural problems in the property that will cost a huge amount to put right and they may not appear in the mortgage valuation report.  Typically, a mortgage valuation takes up to 30 minutes only and sensible and prudent purchasers will commission a much more detailed inspection, preferably from an independent surveyor.

Feather Smailes & Scales have three Chartered Surveyors who between them have over 50 years survey and valuation experience, most of which has been undertaken in Harrogate, Leeds, York and also covering much of North and West Yorkshire.

The principal types of inspection we can offer are:

Valuation

This is a concise report advising as to the value of the property in the prevailing market conditions.  It is NOT a survey although it may give an opinion as to the apparent condition of the property.  Costs start from £300.

Homebuyer Survey & Valuation

This is a report designed by the RICS as an economical survey using a standardised format that focuses on essentials, defects and problems which are urgent or significant and thus have an effect of the value of the property.  It also includes a valuation and fire insurance figure.  Costs start from £350.

Building Survey (formerly known as a Structural Survey)

This is a much more detailed inspection and report and is usually carried out on older, larger or individual properties, although they are just as applicable to a more modern property if required.  The report is more comprehensive document and will be written as much as possible in plain English.  The report will include photographs (where appropriate) and a glossary of building terms and tips for future maintenance.  Costs start from £500.

In addition to the above services our Surveyors can also offer the following:-

Report on Condition

If you are thinking of entering into a lease on a commercial property:-

Lease terms usually involve the tenant accepting responsibility for the repair and maintenance of the property (this is often known as a full repairing lease) and prospective tenants would be well advised to have an independent report on its condition.  Our report on condition will provide our opinion of the condition of the property and how this will affect any ingoing tenant's liability to repair under the terms of a proposed lease.  Costs start from £600..

Lease Extension, Freehold Purchase (Collective Enfranchisement), Right to Manage

If you are the owner of a property with a long lease you have various options at  your disposal.  Under the 1993 Leasehold Reform Act you are entitled to extend your lease by 90 years and reduce any owner's ground rent to a much lesser amount, a peppercorn rent, a nominal rent without any rent review clauses. 

If a sufficient number of leaseholders in a block wish to purchase the freehold there are rights within the Act to compel the landlord to sell the freehold giving the leaseholders ownership of the property and the right to manage and control the  property: this is known as Collective Enfranchisement.

If you are dissatisfied with the freeholder's management of the property, especially if you are paying a significant amount of service charge, there is a Right to Manage within the Commonhold and Leasehold Reform Act 2002 which will put the leaseholders in charge and no further service charge will be payable to the freeholder. There is no need to prove mismanagement by the freeholder or managing agents.

Provided you have a qualifying lease your request to extend the lease, purchase the freehold or obtain the right to manage cannot be refused by the freeholder.  Timescales are in place to prevent procrastination on behalf of the freeholder and the process can also be completed even if the freeholder cannot be found or contacted, i.e. an absentee freeholder or, indeed, if the freeholder refuses to reply to notices served.

If you would like to have more control of your leasehold property or if you wish to extend your lease, particularly if the remaining term is close to or below 80 years then contact us for further advice.

Energy Performance Certificates
We are able to carry out Energy Performance Certification (EPCs) on any property marketed for rent.  Our fee scale is competitive and linked to the size of the property.  Please contact Guy Lythe on 01423 534192 and we will be happy to arrange a quote.

For further information on surveys, valuations, lease renewals and rent reviews contact:

Michael Hare BSc FRICS


  Michael Hare
RICS National Association of Valuers and Auctioneers National Association of Estate Agents


 

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