In a move to increase lending on new and self build houses RICS has recently published new guidance for surveyors which should give greater confidence in valuations.

The initiative has been brought about because of market feedback which revealed a growing trend in surveyors to value new build property differently to older homes.

The guidance should ensure that surveyors carrying out valuations for new and self build properties follow a consistent methodology – which will lead to greater lender and borrower confidence.

Peter Bolton King, RICS Global Residential Director, said: "There have been significant changes in the new and self build market – and a renewed range of buyer incentives has sparked some uncertainty on if and how these should be factored into valuations.

"This updated guidance will increase confidence amongst valuers, lenders and borrowers in their valuations by equipping surveyors with the information they need to carry out accurate and market consistent valuations."