Feb 2018

RICS Valuation Registration is Mark of Confidence

Charterfields has successfully completed the Royal Society of Chartered Surveyors (RICS) RICS Valuer Registration Scheme audit to retain its Valuation Registration.

Carried out every three years, the RICS audit recognises that Charterfields’ work meets all of the standards set by the professional body.

What is RICS Valuer Registration?

RICS Valuer Registration means that banks and other lenders, insolvency practitioners and insurers can rely on the valuations that Charterfields provides. It is a quality assurance product which ensures that the firm doing the valuation meets and maintains all of RICS’ financial, ethical and competency requirements.

Ian Maycock, Charterfields Director, said:

“Securing the Valuation Registration is an important recognition of the standards we maintain at the firm. It is vital that our clients and third parties including financial institutions, secure lending and insurers, can have confidence in the valuations we provide and in their content and recommendations.”

Why are valuations important?

Valuations are important because they ensure that the buyer is getting a reasonable value for money. This is particularly important when lending is involved. Most commercial transactions regarding property will require some form of loan finance, and valuations ensure that the value of the purchase is realistic.

The same rules apply for insurance valuations, if the valuation of a heritable property were to be inaccurate then that would have a major impact on the price of the shares.

The RICS Valuer Registration underpins the valuation of the insurance material produced by RICS members. This means that Charterfields valuations have been prepared in accordance with the RICS red book ‘RICS Valuation, Professional standards.’ The red book is recognised across the world as being one of the most rigorous sets of standards for valuations, incorporating the international valuation standards.

Graham Stokey, Rics Principle Surveyor, RICS Regulation,said:

“Rics Valuer Registration will continue to evolve, it provides a badge of integrity and quality insurance. which increasingly banks and financial institutions are asking for as a prerequisite of an instruction to a valuer.”

Learn more about Charterfields Valuations
To find out more about our valuation services, please click here to view our corporate valuation pages.