Help to Buy Valuation – Avery Surveys
Avery & Co are specialists in the provision of valuations which comply with the Government Help to Buy Scheme. Our friendly team will guide you through the process simply and quickly.
What is Help to Buy?
- Help to Buy a scheme which was introduced in 2013 to make new build properties more affordable.
- The Government lends you up to 20% of the purchase price towards your deposit.
- This loan is interest-free for the first five years, after which you must start paying off the interest on the loan.
Why do I need a valuation?
- The amount of the Government loan will fluctuate as a percentage of the value of the property over the period of the loan.
- The Government have appointed Target HCA and Help to Buy Wales to manage the Help to Buy scheme on their behalf.
- If you are considering paying off your loan, you will require a valuation by a qualified RICS Registered Valuer to calculate the amount you need to repay.
What do I get?
- One of our qualified RICS Registered Valuers will carry out a visual inspection of the inside and outside of the property which usually takes about 30-40 minutes.
- Within 5 working days** we will send you clear concise written valuation report compliant with the requirements of Target HCA and Help to Buy Wales.
We are here to help you through the process as easily as possible. If you need any further advice, one of our qualified valuers would be happy to speak with you.
A note about lease terms and new build property.
Some new build property was sold on a long leasehold basis containing problem lease terms. Whilst the vast majority of properties pose no issues, there are some which are classed as particularly onerous. This might include leases with:-
- A high ground rent of over £400 pa.
- A high estate or other maintenance charge.
- A provision to double or significantly increase the ground rent at review.
- A short review period of less than 10 years.
- A limited remaining lease term of less than 85 years
If you think you may have a lease which contains any of the above provisions, please contact us for further advice. In some cases, a specialist form of valuation may be required.
Our administration team and valuer’s are happy to help with any questions you may have and there is no obligation to book with us. Alternatively, you can call us on 0330 088 5040.
*Please note that the information contained within this section is a summary only. For detailed information please refer to our terms of engagement, a copy of which is available upon request.
** Our aim is to send the finished valuation report to you within 5 working days of the date of inspection. In most cases this will be quicker, but there may be circumstances which could cause delay and which are out of our control.