Well, that's good then. The BBA and the RICS have entered into a joint "Memorandum of Understanding" about valuations, showing their commitment to maintaining high standards and ensure a sustainable supply of valuation services, 

If you were to be a sceptic (and who would want to be labelled as such?) you might read deeper into the press release and wonder if, in the end, it is really all about money. Banks are buying an opinion (and, the sceptic might say, an indemnity insurance policy), and the surveyors are saying that if they want to be able to continue to do so this must be "reflected in the pricing of valuation services" (which the same sceptic might read as a threat not to do the work unless the bill - which, of course, is always paid by the customer - is increased).

I wonder if the Law Society is in similar "understanding" discussions?