Help to Buy Valuation
Help to Buy is s a shared equity scheme introduced by the Government, where first-time buyers can borrow up to 20% of the cost of a new build house. This is interest-free for 5 years.
For more information, check out the official Government Help to Buy website.
When do you need a valuation?
If you have used the Help to Buy scheme and you need to remortgage or sell your home to repay your loan, then you need to get an RICS regulated valuation.
What criteria must be met?
- You must hire an RICS regulated independent valuer to carry out the valuation.
- The valuer must be registered with RICS and be independent of an estate agent
- They cannot be related to you
- The valuer must provide at least 3 comparable properties and sale prices
- Those properties must be like for like with regards to property type, size, and age, and must be within a 2-mile radius of your property
- Valuations carried out for bank or mortgage purposes won’t be accepted
- The valuer must inspect the property interior and provide a full valuation report [not a survey]
- The report must be on headed paper, signed by an RICS surveyor, dated, and addressed to the appropriate association.
We meet all the criteria and carry out Help to Buy valuations at an affordable price – if you’d like to learn more or book in your own valuation, please get in touch today on 03337729516.