Loan Valuation


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Loan Valuation

In most cases when a party lends money for the purchase of a property interest, the lender will require a loan valuation. This is to ensure that the value of the asset meets the security and equity criteria of the loan contract.It would be usual for the lender to appoint a person or firm that is independent from the property transaction to provide the loan valuation. Such a person or firm would usually be a suitably qualified surveyor.In the case of a surveyor that is a member of the Royal Institution of Chartered surveyors, it is mandatory for the member to prepare the loan valuation in accordance with the RICS Appraisal and Valuation Manual. This publication sets out various Practice Statements and Guidance Notes that should be adopted by the surveyor in order to ensure consistency of approach and quality assurances for the lender.