Newbie to this subject

kindlefirebabe

Update: I have since spoken on the telephone to VOA and, following their advice, I have sent all relevant ( and possibly some irrelevant) papers to VOA and they have agreed to do a banding review. I am happy with that! Regardless of outcome I will accept their findings.

We moved to this property in 1989. We were banded C in 1991. I didn't really understand the repercussions of this at the time ( I was only 30). Fast forward 34 years and upon reading the valuation bands way back then, it seems we were banded incorrectly. The trouble is our property is unique in our area with nothing to compare with it. I am therefore left to prove it's value in 1991. Our offer for the purchase of the property was made in Feb 89. But ownership was not completed until June 1989. What evidence will help my case? Our property was bought for £38,500. We are in England. Any tips to support our case would be appreciated. Thanks 

lincroft1710

You can try using your 1989 purchase price but are you sure it was £38,500 as that seems low since house prices at that time were almost at a peak. But I think the VOA won't accept it on its own as a reason to reduce your band. Despite the fact you claim your property is unique, I would suggest looking around the area at Band B and C properties and see if you can find anything that would either support a lower band or indicate Band C is in fact correct.


Two further things. Firstly CT started in 1993, not 1991. Secondly I have never come across anyone who claimed not to understand CT banding because they were only 30 (or should that be 32)

sammyjammy

lincroft1710 said:

You can try using your 1989 purchase price but are you sure it was £38,500 as that seems low since house prices at that time were almost at a peak. But I think the VOA won't accept it on its own as a reason to reduce your band. Despite the fact you claim your property is unique, I would suggest looking around the area at Band B and C properties and see if you can find anything that would either support a lower band or indicate Band C is in fact correct.


Two further things. Firstly CT started in 1993, not 1991. Secondly I have never come across anyone who claimed not to understand CT banding because they were only 30 (or should that be 32)

Not sure what your basis is of querying the price because I bought 10 years after this and paid less than £30k and I could probably buy a house for £38 now if I looked hard enough!

kindlefirebabe

lincroft1710 said:

You can try using your 1989 purchase price but are you sure it was £38,500 as that seems low since house prices at that time were almost at a peak. But I think the VOA won't accept it on its own as a reason to reduce your band. Despite the fact you claim your property is unique, I would suggest looking around the area at Band B and C properties and see if you can find anything that would either support a lower band or indicate Band C is in fact correct.


Two further things. Firstly CT started in 1993, not 1991. Secondly I have never come across anyone who claimed not to understand CT banding because they were only 30 (or should that be 32)

Thanks for your reply. That's a nice way to make me feel welcome! 1991 is when the valuations were done from what I have read. And actually that price was as much as we could afford at that time as mortgage rates were 12.25% I didn't realise I would have to justify myself to you but hey ho! It takes all sorts to make a world and some of your points were helpful so thank you.👍

lincroft1710

kindlefirebabe said:

lincroft1710 said:

You can try using your 1989 purchase price but are you sure it was £38,500 as that seems low since house prices at that time were almost at a peak. But I think the VOA won't accept it on its own as a reason to reduce your band. Despite the fact you claim your property is unique, I would suggest looking around the area at Band B and C properties and see if you can find anything that would either support a lower band or indicate Band C is in fact correct.


Two further things. Firstly CT started in 1993, not 1991. Secondly I have never come across anyone who claimed not to understand CT banding because they were only 30 (or should that be 32)

Thanks for your reply. That's a nice way to make me feel welcome! 1991 is when the valuations were done from what I have read. And actually that price was as much as we could afford at that time as mortgage rates were 12.25% I didn't realise I would have to justify myself to you but hey ho! It takes all sorts to make a world and some of your points were helpful so thank you.👍

CT came into force on 1 Apr 1993 based on prices as at 1 Apr 1991.


I'm ex VOA and in the areas I dealt with and lived (4 different counties altogether), 1989 prices were higher than in 1991. I also bought in 1989 but subsequently sold at a significant loss in March 1991. Cannot remember the 1989 figure (£86,000 springs to mind, but might have been a bit more) , but the 1991 figure was around  £61,000. On that basis £38,500 in 1989 would suggest  less than £30,000 in 1991, hence my question as this would slam it into a Band A, yet you are in Band C. So something is wrong somewhere.

lincroft1710

sammyjammy said:

lincroft1710 said:

You can try using your 1989 purchase price but are you sure it was £38,500 as that seems low since house prices at that time were almost at a peak. But I think the VOA won't accept it on its own as a reason to reduce your band. Despite the fact you claim your property is unique, I would suggest looking around the area at Band B and C properties and see if you can find anything that would either support a lower band or indicate Band C is in fact correct.


Two further things. Firstly CT started in 1993, not 1991. Secondly I have never come across anyone who claimed not to understand CT banding because they were only 30 (or should that be 32)

Not sure what your basis is of querying the price because I bought 10 years after this and paid less than £30k and I could probably buy a house for £38 now if I looked hard enough!

As I replied to the OP

"I'm ex VOA and in the areas I dealt with and lived (4 different counties altogether), 1989 prices were higher than in 1991. I also bought in 1989 but subsequently sold at a significant loss in March 1991. Cannot remember the 1989 figure (£86,000 springs to mind, but might have been a bit more) , but the 1991 figure was around  £61,000. On that basis £38,500 in 1989 would suggest  less than £30,000 in 1991, hence my question as this would slam it into a Band A, yet you are in Band C. So something is wrong somewhere".


I don't which area you bought in but by 1999, prices in those 4 counties were equal to and in most cases well above 1991 levels, so a house for less than £30K would seem an absolute bargain. If you can find a house today for less than £38K, would you please tell me where, as it sounds like a very good investment.