Practice Briefing Valuations for secured lending: the problem of restricted marketing periods

This Briefing has been written by Chris Thorne FRICS. Chris's career includes over 35 years as a commercial property valuer in private practice, starting with a small regional firm in the UK in the 1970s, and culminating as technical head of valuation for an international property services firm. Between 2010 and 2015 he was Technical Director of the International Valuation Standards Council. Chris also has a long history of involvement as a volunteer member of various RICS boards and committees. This includes eight years as chairman of the Red Book Editorial Board and a number of years as chairman of the Valuation for Secured Lending Advisory Group. He is currently a member of the RICS Global Valuation Standards Expert Working Group. Between 2008 and 2010 he was chairman of the International Valuation Standards Board, a position he had to relinquish when appointed Technical Director of the organisation. In 2015 he cofounded Valuology Ltd. which provides advice to valuation firms, valuation users and governmental organisations on risk management and best practice in the field of valuation. This has included advising various national financial regulators investigating valuations submitted by entities under their jurisdiction on compliance with the required standards.