RICS UK Valuation Commission Report
Today sees the launch of the RICS UK Valuation Commission Report.
The report, written by Dr Oonagh MacDonald CBE, is the culmination of several months of consultation with representatives from the property, banking and insurance sectors, as well as those involved in valuation claims, including RPC. The recommendations are wide-ranging, from changes to regulation, to proposals that lenders should withdraw so-called 'confetti' letters and should pay for valuation reports. We now wait to see how both the banking industry and the RICS will react to her recommendations.