We are specialist Help to Buy valuation surveyors
Being specialists means 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.
Under the scheme, If you sell your house or want to pay off the Help to Buy loan then you will need a valuation from a Chartered Surveyor to determine the Market Value.
Frequently Asked Questions
Can I repay all of my Help To Buy loan?
It is possible to pay of all of your Help to Buy loan in one go, which is often called Full Redemption. This can be done by increasing your main mortgage or by paying the loan off with cash, say from an inheritance. An independent RICS valuation survey must be carried out.
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.
Understanding how to repay your Help To Buy: Equity Loan
Watch below
What type of valuation report do I need if my report expires?
This depends on the type of valuation report that you had previously.
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.
