New RFPG

Walk around the house with your mobile phone; the RFPG system will analyze the condition of the property, provide a quote for renovation, estimate its current value as well as its future value after the renovations are completed. It will also calculate the potential return on investment, and finally generate a PDF document that you can use when presenting these details to lenders.

This is a highly localized tool: the cost estimates for renovation are applicable to England, Wales, Scotland, and Northern Ireland; however, the valuation services are currently only available for England and Wales. The app itself is free to use – both the first scan and the full report can be viewed without paying anything; it is only when you download the PDF version that a fee is charged.

The official statement clearly states that it “cannot replace the work of a surveyor.” Domestic users generally have no need for it, but those considering investing in British real estate may find it useful for preliminary screening purposes.