Help to Buy Valuations
Whether you are selling your property or wishing to pay off your loan, our friendly team are here to help and guide you through the valuation process simply and quickly.
What is Help to Buy?
- Help to Buy is 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 about Help to Buy valuations, one of our qualified valuers would be happy to speak with you.
Please be aware that the valuation is only valid for 3 months. We can do a desktop valuation or a re-inspection at a discounted fee should your valuation expire.
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 problem, 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.