We are specialist Help to Buy valuation surveyors
If you purchased your property using the government’s Help To Buy scheme then, when you come to sell, remortgage or want to repay your Help To Buy loan, you will need to obtain a valuation report in the correct form from a RICS Registered Valuer.
We are complaint with Help To Buy / Homes England requirements and have local market knowledge. Not all surveyors can undertake these valuations, so it is important to select the right surveyor.
Once you have instructed us to undertake a Help To Buy valuation, we will need to come and physically inspect the property both internally and externally. Once we have completed our inspection we will undertake extensive research and produce your valuation report within 2 days that can be sent to Help To Buy / Homes England.
Help to Buy loans were introduced by the government in April 2013 with the aim of helping first-time buyers get on the property ladder. A Help to Buy loan provided up to 20% of the value of the property (or 40% in London) to the buyer interest free for the first five years of the loan period.
FAQs
What is redeeming my Help to Buy loan?
Redeeming your loan means that you will be paying it off, either by selling your property and paying it back from the proceeds of that sale, or buying the percentage of the property you do not currently own. In this situation, a Help To Buy valuation is required so that the amount you have to repay can be calculated.
What do I need to do if I have a Help to Buy loan and want to sell my property?
When a property bought with a Help to Buy loan is put on the market you will need to provide the Help To Buy provider with an independent RICS valuation report before the sale can exchange contracts.
Can I use a mortgage valuation to give to my Help to Buy provider?
Unfortunately, you cannot use your mortgage valuation. Your Help to Buy loan provider will require you to arrange a completely independent RICS valuation report that is produced to a different specification than a standard Mortgage Valuation or Home Survey Report.
What type of valuation report do I need if my report expires?
This depends on the type of valuation report that you had previously. Either a letter from the inspecting surveyor, a desktop valuation or a full valuation.
Letter from surveyor - completion date is within 1 month:
If your RICS valuation (with a physical property visit) is due to expire and your completion date is within 1 month, we can provide a letter. This letter will either confirm that the valuation amount has not changed, or it will confirm what the new valuation amount is. This letter is valid for a further month. We will provide you with an extension letter that can be forwarded to Help To Buy/ Homes England.
Desktop valuation - if your completion date is over 1 month:
If your RICS valuation (with a physical property visit) is due to expire and your completion date is over a month, we can undertake a desktop valuation. This will be certified by the same surveyor who originally inspected the property and must be conducted within 2 weeks of the expiry date of the original valuation. This is valid for a further 3 months.
Full RICS valuation:
If you previously sent Help To Buy / Homes England a desktop valuation (recertified by the same surveyor) and it has expired, we will need to arrange for a new RICS valuation (with a physical property visit). This will be valid for a further 3 months.
Understanding how to repay your Help To Buy: Equity Loan
Watch below
Ruth Ivimey-Cook
James WhiteleyI felt like Mr Lockwood went above and beyond throughout the survey process. He saved me a lot of time, and potentially wasted money, by correcting me on the type of survey I needed. Mr Lockwood was extremely thorough in his report and ALWAYS answered any call or got right back to me if he was unable to do so. I really felt he was extremely supportive in a delicate matter. You get what you pay for with Lockwood surveys. HIGHLY RECOMMEND
Alex Garcia WylieWe recently used Lockwood Chartered Surveyors, and I was very impressed with the service provided by Andrew. He was extremely responsive from the outset and proactive in addressing my initial enquiry. The survey was conducted promptly, within the agreed timeline, and the resulting report was detailed and comprehensive. Andrew was also very accommodating to my specific timeline requirements and took the time to clearly answer all of my questions. I found the entire process to be efficient and professional, and I wouldn’t hesitate to recommend his services.
Graeme BrookeAndrew fitted a valuation survey at relatively short notice. He arrived on time and did a first class job in turning the report around for me. I was happy with the valuation & justifications. Any questions pre & post survey were turned around in a prompt & efficient manner too. I wouldn’t hesitate to recommend or use again in the future.
Lewis HoskinsWe used Lockwood chartered surveyors for our RICS help to buy valuation and I highly recommend. Andrew was quick to respond and talked us through the process. Thank you for providing a great service.
Christie JadeVery speedy & straightforward RICS Valuation for my Help To Buy Redemption. Andrew was very helpful & accommodating towards my tight time restrictions.
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The whole process was really smooth. We went for a Level 3 Survey with the additional drone/raised camera package. The level of detail in the survey was excellent, and highlighted some issues that we were unaware of. Thank you very much!