Valuations that mean buyers are flat broke
Language: English Series: Estates Gazette ; (0549) 10 December 2005, 52-55(4)Publication details: 2005Subject(s): Summary: Looks at the strained relations between RICS and the Council of Mortgage Lenders (CML) who claims that RICS-accredited surveyors are miscalculating the values of new-build flats, leaving both lenders and the public out of pocket. CML is complaining that this situation has not yet been addressed by RICS and other key bodies. Mortgage Works, a specialist mortgage lender of the Portman Building Society, is stopping all lending on new-build buy-to-let properties because valuation in the sector is more of an art than a science. Considers the position of the valuer and how fraudulent valuations work with undeclared incentives undermining transparency.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| Journal article | London Journal article | L131903 (Browse shelf(Opens below)) | 1 | Available | 131903-1001 |
Looks at the strained relations between RICS and the Council of Mortgage Lenders (CML) who claims that RICS-accredited surveyors are miscalculating the values of new-build flats, leaving both lenders and the public out of pocket. CML is complaining that this situation has not yet been addressed by RICS and other key bodies. Mortgage Works, a specialist mortgage lender of the Portman Building Society, is stopping all lending on new-build buy-to-let properties because valuation in the sector is more of an art than a science. Considers the position of the valuer and how fraudulent valuations work with undeclared incentives undermining transparency.