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What is the difference between RICS and MRICS?

Congratulations go out to our Founder and Managing Director, Emma Walker,  for achieving recognition as a Chartered Surveyor and Member of RICS, designated by the letters MRICS after her name.

What is RICS?
The Royal Institution of Chartered Surveyors (RICS) is a professional body promoting and enforcing the highest international standards in the valuation, management and development of land, real estate, construction and infrastructure.  Qualified RICS members are recognised by AssocRICS designatory letters that are awarded based on a combination of qualifications and experience.   AssocRICS members are unable to describe themselves as “Chartered Surveyors” but are able to offer RICS products.

The designatory letters after your name demonstrate where you are in your career. As your career progresses, you can apply to upgrade your membership to ensure it always reflects your current position.

What is MRICS?
Those with the designation MRICS or FRICS are also known as chartered surveyors.

Chartered Surveyors and Professional Members may use “MRICS” after their names (previously members at this level were known as Professional Associates and used the designation “ARICS”).

Qualified RICS members are recognised by these MRICS designatory letters based on a combination of qualifications and experience:

  • Associate members may use “AssocRICS” after their names (previously members at this level were known as Technical Members and used the designation “TechRICS”).
  • Professional Members may use “MRICS” after their names (previously members at this level were known as Professional Associates and used the designation “ARICS”).
  • Fellows may use “FRICS” after their names.

Professional Members and Fellows of RICS are entitled to use the designation ‘Chartered Surveyor’ and variations such as “Chartered Building Surveyor” or “Chartered Quantity Surveyor”, depending on their route of entry to the profession. Fellows are leaders in their field, people who have undertaken notable projects or made a special contribution to the profession. Only professional members who are major achievers in their careers may apply.

 

 

 

A Day in the Life of a Surveyor

As a recent graduate who has only just started in the world of professional surveying, it can be slightly daunting when starting off in a new company not knowing exactly what you might be doing in your first few weeks. Since I began at EW Estates, it has been great to have a plan set out for the week as early as possible to give myself time to work out when work needs to be completed by.

I am now a few months into my role as a Graduate Surveyor and the work that I am asked to conduct is varied and interesting. One day I may be shadowing a more qualified member of the team on a Level 2 or Level 3 Survey and the next I could be carrying out inspections by myself for valuations on new build property. The work I do also includes carrying out enfranchisement valuations and more recently creating a schedule of condition report as well as attending networking events in order to build relationships with other professionals and different sectors in the North East to continue trying to bring new business into the company. I have really enjoyed being given more responsibility throughout my first month here and I am able to try to work things out for myself and attend properties on my own, whilst also having those with more knowledge than myself either at the office, or on the other end of the phone to answer any questions I might have.

I have also had to begin to plan out my APC pathway. My chosen pathway is Valuation and therefore I have found myself researching various ‘competencies’ in order to work out which would be the best and most productive way to go about passing my APC and becoming a member of the RICS.

Sam Trotman

Success for Dionne

2022 National Youth Cadet Champion- Dionne Mannion.

We are delighted to see Dionne achieve the prestigious title of National Youth Cadet Champion for 2022 at the England Boxing National Youth Championships. Dionne is one of EW Estates sponsored athletes and a member of Marden Amateur Boxing Club. The club is an amateur and professional boxing club based in North Tyneside.

Congratulations Dionne!!

What is Help to Buy?

The Help to Buy scheme is a Government backed initiative that offers an equity loan where the government lends first-time buyers in England money to buy a newly built home. This must be used to buy your main residence and can’t be used to buy a second home or a buy-to-let property. You will need a deposit of at least 5% of the purchase price. You can borrow 20% of the purchase price of the property and this amount is interest-free for five years. Throughout the UK there are different caps on the value of the property that the Help to Buy loan can be used with, in the North East region this value is £186,100.

How do we reach our valuation?

To reach a figure which reflects the true value of your home or property, we must inspect the property to find out the details that mainly affect the value. This means taking measurements, photographs, and site notes so that we can accurately find comparable properties in the local and surrounding area which have sold in the last 6 months or so. We use Rightmove SCT to find these comparable properties and this allows us to adjust based on any value increasing or decreasing characteristics. After this is complete, we will then formulate your report with all the necessary information from our inspection and show in detail how we reached our final valuation figure. This figure will always be within the adjusted range of the comparable properties which we believe are most suitable for comparison to your property.

Potential issues we may encounter.

Whilst carrying out the valuation, we may encounter issues which could affect the valuation figure. These issues range from structural defects to a lack of good comparable evidence to find a value which reflects the current market price of the property. In the case of lack of evidence, we would look further away from the subject property area to find a good comparable or possibly look further into the past to find similar property sales.  If this is the case, we will adjust the valuation to reflect the new evidence.   In the case of structural problems, this has the potential to significantly affect the value of the property.  If severe structural problems are detected the property may need to undergo corrections before a lender is willing to offer a mortgage against it.

Does your property need fire doors??

Building regulations specify that fire doors must be present within the following areas of your home:

  1. Renovated domestic properties or new builds that have 3 or more storeys, including loft conversions should have fire doors to every habitable door (excluding W.C and bathrooms).
  2. Fire doors are also required if an integral garage has direct access into the domestic property.

According to the Regulatory Reform (Fire Safety) Order in 2005, property owners must ensure fire doors are fitted by a ‘competent person’ defined as ‘someone with sufficient training and experience, qualifications and knowledge to be able to implement fire safety measures (some or all) in a building’.

What is a fire door?  A fire door is a specially constructed door which increases the time for fire and flames to pass through. There are two common types of domestic fire doors which include FD30 (fire door 30 minutes) and FD60 (fire door 60 minutes). These doors are tested to resist smoke and flames for 30 and 60 minutes. Fire doors can be glass, steel, wood or pyropanel. They must be regularly inspected to ensure they are maintained and functioning properly.

The main features of a fire doors include:

  1. Less than 4mm gaps around the side and top of the door.
  2. Hinges which are a minimum size of 3mm
  3. Automatic closing mechanism
  4. Intumescent seals

 

Sponsorship of Marden ABC

Back in June, we announced our sponsorship of Marden ABC, a fantastic local gym with a lot of promising looking fighters. One of their boxers in particular caught our eye.

We saw that Dionne Mannion was looking for a sponsor, and it was absolutely necessary that we were a part of it. Dionne is only 16 years old and she’s the Hull Box Cup Champion, as well as last years National Junior finalist!

Read more

Becoming an accidental landlord

Many Homeowners in the UK have become so called “accidental landlords” as a result of the current market.

In many cases, homeowners find themselves with little option but to rent out their home after struggling to sell, as selling a home is not as easy as it always sounds.

The way the housing market has been in recent years, some homes have stayed on the market longer than their owners expected. Instead of hoping for a sale, many homeowners decide to just rent the property out and use their rent to cover the mortgage payments.

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