If you have a Help to Buy loan, you will need a RICS valuation if you sell your property or re-mortgage to pay off your Help to Buy loan. The amount repayable is in direct proportion to the current market value of your property. Shape Surveyors are independent RICS registered valuers specialising in valuation reports for this purpose and satisfy the criteria for Target HCA who now administer the loans.
Help to Buy Valuation Criteria
The RICS Valuation checklist is as follows:-
The Valuer must be registered with the recognised qualification of RICS.
The valuer must be independent of an Estate Agent.
The report must be on headed paper and signed by the RICS surveyor and addressed to Target HCA.
THE VALUER MUST PROVIDE a minimum of THREE COMPARABLE PROPERTIES AND SALE PRICES.
The comparables provided must be like for like in terms of property type, size and age and within a 2 mile radius to the property that is being inspected.
The valuer must not be known or related to you.
The valuer must inspect the interior of the property and provide a full valuation report.
Valuations for bank and mortgage purposes are not acceptable.
A copy of the valuation report must be supplied to Target; – the inspection date must be shown on the report.
As residential surveyors our valuation report adheres to all of these requirements.
Some marriages break down. When they do, if there’s property involved the value of it will have to be agreed.
A valuation for matrimonial purposes aims to provide a Market Valuation, which can be used to decide how joint property assets are divided between parties involved in divorce proceedings. Shape Surveyors can carry out valuations for either party to make absolutely sure an impartial value is established through professional judgement. We understand that marriage break-up is difficult, when it happens, property valuation is one less thing to worry about.
Our surveyors are able to undertake these matrimonial valuations and provide reports compliant with Rule 35 of the CPR 1998. In most cases, we are jointly appointed by instructing solicitors (on behalf of each party) to provide an independent valuation report for the Courts. We are able to provide matrimonial valuation reports in respect of the matrimonial house and/or other shared residential, investment or commercial property.
We are able to undertake a valuation of residential properties which are in shared ownership. Sometimes referred to as ‘staircasing’, this is the process of buying some, or all, of the remaining share of the property.
We value all types of residential properties
Need a valuation, call us on 0121 769 2175 or Contact us to book a valuation.