Capital Value (CV)
Also known as government valuation (GV) or local authority rateable value, it is set by local councils and determines the level of annual rates payments for a property. CVs aren't property specific so are not inclusive of chattels or appliances and will not reflect improvements to the property since it was last sold.
CVs are a general guide to a property's worth, based on other properties in the same area and the most recent sales price for the property. Most local councils provide free search engines on their websites that provide the latest CV details of a property. When inquiring through council sites it is important to ensure the CV is recent - sometimes they can be three or four years old.
More Glossary Terms
- Assets
- Auction
- Body Corporate
- Borrowing Costs
- Break Costs
- Bridging Arrangements
- Capital Gain
- Capital Value (CV)
- Capitalise
- Capped Loans
- Certificate of Title (of CT Reference)
- Chattels
- Commission
- Company Title
- Conditional Agreement
- Credit Contracts and Consumer Finance Act
- Credit Report (or Credit File)
- Creditor
- Cross Lease
- Current Market Value
- Debtor
- Declaration
- Default
- Default Margin
- Deposit
- Depreciation
- Discharge of Mortgage
- Dividends
- Drawings
- Equity
- Equity Release Mortgage(or Reverse Asset Mortgage)
- First Mortgage
- Fixed Interest Rate
- Fixed Term (or Fixed Rate Period)
- Floating Interest Rate
- Freehold
- GV or Government Valuation
- General Loan
