Shared Equity

A Shared Equity valuation needs to be carried out by an RICS Registered valuer to provide a market value for the sale or purchase of your percentage share in your property.

The vast majority of shared ownership schemes are likely to be managed and owned by a Housing Association. When you consider selling the property in most cases the share that you have in your home will have to be offered to the Housing Association first. In some instances the Housing Association may not want to buy your percentage of ownership but in most cases the Housing Association will also have a right to offer your property for sale.

Irrespective of whether there is an option for the Housing Association to purchase your share or whether they require a certain time period to consider selling the property it is likely that under the terms of your lease you will need to have a valuation carried out by an independent RICS surveyor.  This is known as a Shared Equity valuation. The principal of the valuation is to determine 100% of the market value from which the percentage split for the homeowner and the Housing Association can be calculated.

Most Housing Associations have very specific rules regarding the valuation process – for example some require us to disregard any improvements to the property since it was originally acquired.

Ideally we will require specific information regarding your lease including duration remaining as well as any associated charges such as ground rent, service charge, building maintenance, insurance etc.

Once you have received the Shared Equity valuation then you will need to provide this to the Housing Association along with any necessary documentation or we can send it directly with your expressed permission.

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