We have an experienced team of residential valuers who operate from our Central London offices covering Greater London and the Home Counties.
Our clients are predominently commercial lenders including the main banks and specialist property banks and funds. We also act for specialist lenders involved in property investment and undertake some mortgage valuation work.
Over the years we have seen the need for fully Red Book compliant valuation reports to address the need for more information to allow funding decisions by banks and lenders servicing the increasing market for residential investment.
With many years experience in the area of mortgage valuation our valuers have the in depth knowledge of the London property market and investment requirements to provide clear objective reporting.
Development valuation and appraisal work is undertaken combining core valuation skills with technical proficiancy in the use of Argus Developer and similar spreadsheet / cashflow based appraisal tools.
Expertise in the area of Leasehold Enfranchisement means that we can accurately value short leasehold interests and provide commentary on reversionary interests, including Ground Rent portfolios.
Valuations for overseas investors in the London property market can range from individual units to appraisals of complete developments. Our experience and expertise means that we build a close relationship with such clients and develop an understanding of their investment strategy and requirements.
With an increasing number of overseas investors in the prime London area we recognise that such investors require expert advice that goes beyond simply knowing the value of an asset.
We aim to add value to such investment decisions by providing our insight and local knowledge of the prime London areas.
All our valuers are Registered Valuers under the RICS Registration scheme.
We act on behalf of a wide range of property lenders preparing valuations for loan security purposes.
Our valuations are prepared in accordance with the RICS Valuation Standards and we pride ourselves on providing a comprehensive report which clearly sets out the valuation methodology.
All Lamberts Valuers are members of the RICS Valuers Registeration scheme and are familiar with a wide range of property types. Our expertise ranges from reporting upon multi-million pound developments to the most modest flat conversion.
Investment and Portfolio Valuations can be prepared incorporating rental valuations with full market commentary supported by full comparable evidence. Instructions are frequently dealt with via web based administration and electronic reporting systems. Supported systems include Quest and Xit2.
The RICS Homebuyer service is a very useful reporting format that provides prospective purchasers with a concise and easily understood report upon many types of property.
It includes a valuation and a very clear reporting structure that aims to identify those matters that you should consider before proceeding with a purchase.
The reporting format ensures that the various areas of a structure are subject to inspection and comment. In our view the report best suits modern property and is ideal for flats where extensive comment upon other parts of a block are not required or relevant.
A clear summary provides a purchaser with all the information that they require to consider a property and includes a Market Valuation and advice on Building Cost Reinstatement.
We have specialist knowledge of residential and commercial developments.
Development Appraisals are a specialist area of expertise within Lamberts and we have undertaken many such appraisals for lenders and purchasers, as well as proving acquisition advice to Housing Associations and Charities.
We utilise the Argus Developer appraisal system and bespoke spreadsheets developed by our valuers. A critical part of any development appraisal is the calculation and verification of building costs and professional fees. We are fortunate that Lamberts Building Consultancy Division is active in administering new developments and can provide us with first hand experience of build costs for all types of residential property.
Similarly our experience of loan security valuations ensures that our assessment of Gross Development Values is accurate and supported by market evidence.
In conjunction with our Commercial Department we can also assess the value of commercial developments again providing site value and Gross Development Values.
Lamberts are able to provide fully compliant Market Valuations at the relevant Tax Year for either CGT or ATED purposes. Should negotiations be required with the Valuation Office we are also able to represent you and we have successfully dealt a number of such reviews.
In order to satisfy the requirement to provide evidence of Market Value we adopt the Minimum Reporting Requirements as set out in the Valuations Standards prepared by the RICS.
Whilst it may be tempting to adopt an Estate Agents opinion of value or some other determination of value, it is advisable to have a properly prepared Market Valuation undertaken by a Registered Valuer accredited by the RICS.
The report is fully reasoned, which means that it contains sufficient narrative explaining the method and approach to valuation with supporting comparable evidence.
This significantly reduces the likelihood of a dispute with the Valuation Office over any figure reported.
With our long experience of residential valuation we are able to produce valuations on a retrospective basis if required.
The Leasehold Reform Act when introduced was primarily seen as providing lessees with the ability to acquire the freehold of their building.
In practise it has been found that in most cases the ability to act independently and extend a flats lease has been the most frequently used part of the Act, however, the ability to collectively acquire the freehold interest in their property is also attractive to lessees and we act for both freeholders and lessees in this specialist area of valuation.
We aim to ensure that residents are given a concise an accurate assessment of the likely cost of acquiring the freehold interest in their property. Our report will set out our advice as to the sum to be inserted in the Notice of Claim and will provide further explation of anticipated areas of contention.
In the case of larger blocks of flats we will explain the impact of non-participating tenants and review all other matters such as the impact of development potential and claims for other forms of compensation.
When acting for freeholders we endeavour to ensure that the best price is achieved which may reflect development potential and similar losses.
Where a “Right of First Refusal” has been served prior to an agreed or proposed sale we are able to provide valuation advice or conduct negotiations with a freeholders representatives – and we can of course advice freeholders upon the process in the event of a disposal being considered.
Our fee structure is designed to provide complete transparency as to the costs involved in the process and we are happy to give a written fee quotation in advance of undertaking any work.
The ability to extend a flats lease is an important part of the current Leasehold Reform Act legislation.
We offer both Landlords and Tenants clear and accurate professional advice to ensure that the process can be completed as easily as possible.
Our involvement in Lease Extensions often starts with preliminary advice over the telephone, but in all cases we will carry out an inspection of the property to be valued and prepare a detailed report that will set out the full statutory calculation and explain the process.
Our fees are not based on either a time spent or savings basis and we aim to provide clarity on costs at all times.
Negotiations and representation at the First Tier Tribunal to resolve disputes can similarly be undertaken on a fixed fee basis. A full estimate of costs can be provided by telephone. Please call for further details.
This legislation allows owners of leasehold houses to acquire either the Freehold of their property or extend their lease by a further 50 years.
There are various qualification requirements and several methods of valuation. We would be happy to explain these to you in more detail.
At Lamberts, Gavin Buchanan MRICS, a leading expert in this field prepares valuations under this legislation. Our experience extends to some of the less frequently experienced problems surrounding this legislation, such as ground rent reviews after the first 25 years of the statutory 50 year lease extension.
For further information on our fees and the process please contact us.