Mortgage Valuation Report: Property Assessment for Lender (F.I.S.A.)

This mortgage valuation report, prepared for a lender member or associate company of the Finance Industry Standards Association (FISA), provides a detailed assessment of a property located at 71, Harold Road, Lozells street, Birmingham. The report, instructed by Henry Jorz, evaluates the property's condition, including its structure, utilities, and overall state, noting aspects like the need for essential repairs. The property is not readily mortgageable through conventional sources due to neighborhood factors, and the report includes details of comparable properties used to determine the estimated and projected market values, along with reinstatement value for insurance purposes. The valuation, conducted by an experienced professional, confirms the inspection of the interior and exterior and adheres to RICS Appraisal & Valuation Standards. The report also addresses the property's tenure, construction, accommodation, and potential issues, and includes the valuer's declaration of independence and confirmation that the lender may rely on the report. The report concludes with the valuer's signature, qualifications, and contact information.

Mortgage Valuation Report
To a Lender Member or associate company of the F.I.S.A.
This report is for use by a lender member of the Finance Industry Standards Association or an associate company, and will be re lied upon for lending purposes.
Instructed By
Tel:Henry Jorz
Postcode:71, Harold Road, Lozells street, Birmingham
Person in attendance at time of visit
Tenure: FREEHOLD/LEASEHOLDTerm
unexpired
House
30 Years Ground Rent/
Rent Charged £ 102 per month Service
Charge £ 2777 per year
Description
of Property:
Construction:
Services:
Condition:
Location:
Please provide a
photograph of the
front of the property.
Accommodation:
Date Built (Approx.)
12 walls Roof 2 roofs
Bungalow
Give
number
of each
Mains
Electricity
Detached
Semi
Detached
Inner
Terrace
End
Terrace
Purpose Built Converted On which Number of Number of
Units
1 units
Floors
2 floors
floor?
Both
House House
Receptions
2
Gross external 2 Floors Bedrooms
3
W.C’s.
12 walls
Bathroom
s 2
Garages/Spaces
1 garage
Utility
1 spaces
Kitchens
1
Garden
2
Outbuildings
1
Garden
floor area m2 Front Rear
1
Mains
Gas Mains
Water Drainage
System Mains Other Central
Heating
Are roads made up and
adopted by local Auth.?
If NO state condition
and road charge liability
If “Yes” give full details and costs
in remarks section below.
Full Part
Structure
Good
Average
Poor
See remarks
Decorations
Good
Average
Poor
See remarks
Demand
Are there any essential repairs needed?
Is the property Ex. Local Authority?
Good
Average
Poor
See remarks
Yes
Yes
No
If the property is not readily mortgageable
you must explain why in the remarks below.
Is the property mortgageable
through conventional sources? YES NO
If yes please give full details.Is there any reason to believe that this
property is built on contaminated land? YES NO Is more than 40% of the
property occupied as an abode? YES NO
Yes
£ 88.60 including Vat
for 4 years
No
No
The neighborhood are local community who are also going to sale their property. Due to which they are bad in the nature and has the
character of jealous.
Demand of the existing or sellable property affected by the comparables and neighbors who are going to sale their property.
Rate sheet which is confirmed to sale the house is
worth of 1,45,000 GBP
Remarks: The property or house not comes under the mortgage through conventional source and sellable by the owner.
Name of agents: George B.
Telephone number: [phone]
Estimated cost of essential repairs £ 475
Comparables: Please provide 2 comparables used in reaching your opinion of the property value.
Comparable 1: House of neighbors
Date Sold: 18th July 2017 Sale Price £ 1,58,000
Comparable 2: House of other property holder
Sale Price £ 1,60,000
Date Sold: 24th July 2017
Valuation: Market Value
with the benefit of vacant possession. £ 1,45,000
Declaration: I confirm that I have inspected the interior and exterior of the property and that I have knowledge and experience of the area. I confirm the valuation
is a fair indication of the market value for mortgage purposes as defined in the RICS Appraisal & Valuation Standards in force f rom time to time, and,
for ex. Local Authority property takes account of the size and condition of the estate. I do not have a direct or indirect inte rest in the property or the
applicant(s) named above. I confirm that any lender member of the FISA, their successors or assigns, may rely on this report.
Date
Name and
qualifications
of valuer
TelephoneMiles: 35.2 milesDistance of Office from Property
Name and Address
of Firm
Signature
of Valuer
Estimated Market Value
on completion of any repairs (if applicable). £ 1,59,000
Reinstatement Value
for insurance purposes. £ 1,69,000
Projected
Market Value £ 1,74,000Allowing 3 months to sale completion.
Occupancy: Occupant is the doctor who is going to purchase the house which is sellable in this case.
Details of any
Tenancies:
If “Yes” give name and telephone number of selling
agent(s) in remarks section belowIs the property currently being offered for sale? YES NO
FISA FORM 6