Valuations of new property <br><br>HBF has been making representations to the Royal Institution of Chartered Surveyors (RICS) on the valuation of new build properties. It appears they are being down valued, which is then having an effect on the value of lending. “For example,” John Stewart, HBF’s director of economic affairs explained,” a housebuilder has a plot for sale, and a purchaser pays £150,000. They then secure a mortgage and a valuation has to be done. The property then ends up being valued at less than what the purchaser paid. As a result, the lender will lend on a basis of say £130,000, not £150,000.” But Stewart added that it was the lender driving the market as they had a commercial criteria, and would impose their requirements upon the valuer.<br><br>Burden of regulation seminar<br><br>In January, HBF held a seminar with government officials on the cumulative cost burden of policy and regulation with representatives from CLG, Treasury, Defra, the Better Regulation Executive and Bank of England. Crest Nicholson, McCarthy and Stone, Miller, Persimmon and Taylor Wimpey presented case studies which demonstrated the impact the various government policies - affordable housing, the code for sustainable homes (CSH), the community infrastructure levy (CIL), lifetime …