When it comes to probate, second homes are often treated as an afterthought, especially if they’re located hundreds of miles from the executor or solicitor, but that can lead to costly oversights.
At Swift Values, we regularly uncover high-value items in second homes that families assumed were filled with nothing but “the usual” — a few beds, worn furniture and leftover odds and ends.
In this article, we explore why second homes deserve a proper, professional valuation.
Why Second Homes Can Hold Significant Value
Second homes are rarely empty and the contents seldom worthless, but they’re often treated as if they were during probate.
There are practical reasons why valuable items end up in second properties. Families frequently move heirlooms or fragile antiques to second homes to protect them from the chaos of daily life – think sticky fingers and waggy tails.
In some cases, the second home was the primary residence for previous generations and still contains the original furnishings: large Victorian wardrobes, old oak dressers, oil paintings and rugs that have been in the family for half a century or more.
Others are holiday lets or lifestyle homes that have been refurbished to a high standard and filled with contemporary furniture and local artwork, both of which carry a resale value that house clearance firms often overlook.
It’s not uncommon for our team to find items worth thousands in second homes where families assured us there was nothing much of interest.
The Risks of Relying on House Clearance Firms
When a second home is on the other side of the country it is hard to know where to start and so the easiest option is usually to hand everything over to a house clearance firm, but this isn’t always the best way to proceed.
Although they usually do a great job, they are not trained valuers and this can mean that valuable items are sold off in bulk, taken to auction without reserve or simply discarded.
Without a professional valuation there’s no formal record for HMRC, which can lead to scrutiny if an item later reappears on the auction circuit and is sold for a higher amount.
Overlooked assets can also create disputes among beneficiaries which is something no solicitor needs on their hands.
Why Professional Valuation Matters
A professional valuation protects everyone involved in the probate process by providing a clear, defensible record to HMRC and ensuring peace of mind that nothing has been missed or underreported.
At Swift Values we have two options to help solicitors with second homes:
- Online valuation: No matter where the property is in the UK, all we need is pictures of each room to provide a remote contents valuation for £99 + VAT. If there is a family member local to the property or a neighbour with access to a key then we will be happy to chat to them and walk them through the process.
- In-person valuation: We can also visit properties in London, the Home Counties, Wales, Cumbria and the North West to carry out a detailed in person assessment for £249 + VAT.
Both services are fully HMRC-compliant and designed to simplify the probate process, wherever the property is located.
Conclusion
Second homes may be out of sight but they shouldn’t be out of mind when it comes to probate.
At Swift Values, we help solicitors and executors to value second home contents with ease.
To find out more or arrange a valuation, visit https://swiftvalues.co.uk or contact us at enquiries@swiftvalues.co.uk or on 0330 088 4099.
This article was submitted to be published by Swift Values as part of their advertising agreement with Today’s Wills and Probate. The views expressed in this article are those of the submitter and not those of Today’s Wills and Probate.
