RICS residential valuations

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RICS Valuations

Romans Surveyors have been providing clients with detailed valuations since 1991. We can offer you expert advice on all types of survey valuation for both commercial and residential properties, including advice on lease extensions, probate, matrimonial, expert witness and equity purchase valuations.

We mainly work with clients across the South East of England and West London, however, we can travel further afield to undertake valuations for specific jobs.

Please call us on 0333 9200 583 to request a quote or make an enquiry.

A brief overview to extending your lease

The process of extending your lease is governed by the Leasehold Reform Housing and Urban Development Act 1993 (as amended), which sets out the criteria and framework for obtaining a lease extension.

Almost all leaseholders have the right to extend their lease under the 1993 Act, the main qualification being that you must have owned the flat for a minimum period of 2 years. There is a process with strict timescales that must be followed by both parties. The Act stipulates that a qualifying lessee, or tenant, is entitled to a 90 year extension (in addition to the unexpired lease term), and any ground rent payable to the freeholder will be removed for the remainder of the term.

Watch our simple Lease Extension video guide

What is the ‘marriage value’?

You should extend your lease at the earliest possible opportunity, the longer you leave it, the more expensive it will be, with a possibly significant increase once the remaining term reaches 80 years, at which point an additional ‘marriage fee’ is payable on top of all the other costs.

When a lease is extended it usually adds value to the property, in some cases this can be a substantial increase. When you extend a lease that has less than 80 years to run, the landlord is entitled to half the increase in the value of the property, this is known as a marriage value. The marriage value forms part of the valuation calculation provided by your surveyor and it is part of the premium that you make to the landlord to purchase the lease extension.

Marriage value is only applicable to leases that have less than 80 years left to run, so we advise all of our clients to look to renew their lease before it hits the 80 year mark.

Expert witness valuations

Expert Witness Valuations are generally provided to solicitors engaged in a legal dispute where the value of a property or land, is required. Disputes of this nature are increasingly resolved by mediation; however advice to the court can also be required. Romans Surveyors can either be instructed by one of the parties or as a single joint expert.

Get advice from industry experts
Duncan Matthews

Duncan Matthews, BSc, MRICS, Surveyor

Duncan is a Chartered Surveyor working from our Guildford office.

He undertakes a range of valuations and surveys on residential property, specialising in lease extensions and collective enfranchisement.

RICS valuations

Our expert Surveyors can provide you with an accurate valuation.

Please call 0333 9200 583

Probate Valuations

When someone passes away, one of the first steps of the probate process is to value their estate. Romans Surveyors can provide property and land valuations as part of this process.

Advice on matrimonial valuations

When a relationship comes to an end, there may be important financial issues to resolve, including the property you shared with your partner. To protect your interests we recommend using a qualified surveyor to prepare an independent valuation of your property.

As members of RICS (Royal Institution of Chartered Surveyors) we provide accurate market value matrimonial valuations following the guidelines RICS puts in place.

Equity purchase valuations and advice

We are able to undertake a valuation of residential properties which are in shared ownership. Sometimes referred to as ‘staircasing’, this is the process of buying some, or all, of the remaining share of the property.

Choose a surveyor you can trust. Get your free online quote today.