Help To Buy Valuations

We specialise in Help to Buy Valuations and are complaint with Target HCA (Homes and Communities Agency) requirements.

Lockwood Chartered Surveyors have a 100% record of all valuations being accepted. 

Valuation required at short notice. We can help. 

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 property visit) is due to expire and your completion date is within 1 month, you can get a letter from the same surveyor who originally inspected the property. This letter must confirm that the valuation amount has not changed, or it must confirm what the new valuation amount. This letter is valid for a further month. You will need to contact the surveyor to obtain this letter then send the letter to us.

Desktop valuation - if your completion date is over 1 month:

If your RICS valuation (with a property visit) is due to expire and your completion date is over a month, you need a desktop valuation. This must be certified by the same surveyor who originally inspected the property and they must conduct the survey within 2 weeks of the expiry date of the original valuation. It is valid for a further 3 months. Please contact your surveyor to arrange for the desktop valuation and send it to us.

Full RICS valuation:

If you previously sent us was a desktop valuation (recertified by the same surveyor) and it has expired, you will need to arrange for a new RICS valuation (with property visit). If your previous RICS valuation was carried out by a specialist surveyor, you will need to arrange for a specialist surveyor to complete your new RICS valuation. This will be valid for a further 3 months.