chattels - mortgage valuations

The API supports the inclusion of the following chattels in mortgage valuations:

It should be noted however that at law these items may be regarded as personal property as opposed to real estate. Therefore, where high percentage lending is involved, a lender may choose to secure such items by an appropriate charge or specifically instruct the valuer to exclude them (which could be noted in additional comments).

Chattels not included are furniture that is not built in, loose floor coverings, lamps and items not fixed with the intent that they are to remain in place arid pass with a sale of the property. The report will not normally indicate separately the value of chattels included in the valuation.