You can get a good idea of your property's value for free by combining three things: recent sold prices for similar homes nearby from HM Land Registry data, online automated estimates, and a free market appraisal from two or three local estate agents. When you remortgage, your lender will also usually value the property, often at no cost to you.
Free valuations are estimates. For some legal and tax purposes, such as probate, divorce or Capital Gains Tax, you should pay for a formal valuation from a RICS registered valuer. This guide explains each option and when to use it.
Free option 1: check sold prices nearby
The most reliable free evidence is what similar homes have actually sold for, rather than asking prices. HM Land Registry publishes price paid data for homes sold in England and Wales, searchable for free on gov.uk and shown on property portals. In Scotland, Registers of Scotland holds sale prices, and in Northern Ireland, sale prices are published by Land and Property Services.
- Look for homes on your street or nearby with the same type, size and number of bedrooms
- Focus on sales in the last 12 to 18 months, as older sales may not reflect today's market
- Note differences: extensions, gardens, parking and condition can move prices significantly
- Use the official UK House Price Index on gov.uk to see how prices in your area have moved since a comparable sale
Free option 2: online valuation tools
Property portals and some lenders offer instant automated estimates based on sold prices, listings and property records. They are quick and useful for tracking roughly how your home's value changes, but they cannot see inside your home. Try two or three tools and treat the spread as a range rather than a single answer. They are least accurate for unusual properties, recently renovated homes and areas with few sales.
Free option 3: estate agent appraisals
Most estate agents will visit and give a free market appraisal, because they hope you will sell through them. That local knowledge is valuable, but be aware some agents overvalue to win your business.
- Invite at least three agents and ask each for comparable sold prices that support their figure
- Ask what price they would recommend for a quick sale versus the best possible price
- Be wary of a figure far above the others, and of long contracts tied to it
- If you are not selling yet, say so; most will still give a view
Free option 4: a lender valuation when you remortgage
When you remortgage to a new lender or take a new mortgage, the lender values the property to decide how much it will lend. Many remortgage deals include this valuation free. It is done for the lender's benefit, and may be a desktop check rather than a visit, but the result decides your loan-to-value band and therefore the rates you can get. Our step-by-step remortgage guide covers the process, and the mortgage calculator shows how a different value changes your payments.
Which option to use, and when
| Need | Best option | Cost |
|---|---|---|
| Curiosity or net worth tracking | Sold prices and online tools | Free |
| Thinking about selling | Two or three agent appraisals | Free |
| Remortgaging | Lender valuation | Often free |
| Probate, divorce, Capital Gains Tax | RICS registered valuer | Paid |
| Shared ownership staircasing, lease extensions | RICS registered valuer | Paid |
When you need a paid RICS valuation
Some situations need an independent, formal valuation that can be relied on by HMRC, a court or another party:
- Probate and Inheritance Tax: the estate must report the open market value at the date of death. A professional valuation reduces the risk of HMRC challenging the figure; see how Inheritance Tax works
- Capital Gains Tax on a second home or let property, where you need the value at a past date
- Divorce or separation, where both sides need to agree on value
- Shared ownership staircasing and lease extensions, where the landlord or housing provider usually requires a RICS valuation
Using your property value wisely
Knowing your home's value helps with remortgaging, planning a move and seeing your whole financial position. Add it to the net worth calculator, minus your mortgage balance, but remember it is an estimate and you cannot spend equity without borrowing or selling. If you plan to move, factor in stamp duty on your next purchase with the stamp duty calculator, plus agent, legal and removal costs. A moving fund built steadily, for example with SYM, saves relying on credit when those bills land.
Frequently asked questions
How accurate are online house valuations?
Can I find out what a house sold for in the UK?
Do estate agents charge for valuations?
Do I need a professional valuation for probate?
Is my council tax band a guide to my home's value?
- property valuation
- house prices
- estate agents
- remortgage
- RICS