Help to Buy Valuations

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What is a Help to Buy loan?

With a Help to Buy Equity Loan the Government lends you up to 20% of the cost of your newly built home, so you’ll only need a 5% cash deposit and a 75% mortgage to make up the rest. You won’t be charged loan fees on the 20% loan for the first five years of owning your home.

Example:

When you come to repay your loan or sell your property, a Help to Buy valuation is required.

What is a Help to Buy valuation?

A Help to Buy valuation is an independent valuation of your property completed by an RICS Chartered Surveyor. A Help to Buy valuation is required when you own a property through the Help to Buy scheme and wish to either redeem your loan or sell your property. The valuation provides a market value for the property, which is required in order to calculate the repayment of your Help to Buy loan.

Wyvern Surveyors are suitably qualified and experienced to provide this valuation and can report appropriately within a week of inspecting your property. To discuss further or to obtain a quote, please get in touch on 03301 758366 or email: enquiries@wyvernsurveyors.co.uk

Valuation Criteria

  • 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 Homes England.
  • The valuer must provide 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 two 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 Homes England; – the inspection date must be shown on the report.
  • The valuation is valid for 3 months.
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