Help To Buy:
Equity Loan Valuations
serving Cambridgeshire, Hertfordshire and Suffolk
Help To Buy: Equity Loan is a loan assistance scheme to make new build homes available to anyone who wants to buy a new home, but who might be constrained in doing so (e.g. if they cannot afford the mortgage deposit), but could otherwise be expected to sustain a mortgage. The scheme closed to new applicants in October 2022.
In England, up to 20% (40% in London) of the purchase price was available to the buyer through an equity loan, funded by the Government.
We valued around £25 million for Help To Buy and other housing organisations last year, so you can be sure that our service is completely impartial and will satisfy the scheme's requirements. We have a 100% acceptance record with Help To Buy and their associated agents, and will engage with your agent wherever necessary to ensure your valuation satisfies their needs.
When do I need a Help To Buy valuation?
You can make voluntary part repayments (‘staircasing’), or a full repayment, of the Help to Buy loan at the current market value. The minimum voluntary repayment is 5% of the current market value. You can sell your home at any time.
In any of these cases, you must have your house valued by an independent RICS registered valuer. The valuation must follow strict RICS 'Red Book' rules, which usually means valuing the property against similar properties which have sold within the last year.
These valuations must be carried out by an RICS registered valuer, and must be carried out in accordance with Help To Buy requirements. We can carry out your Help To Buy valuation promptly and efficiently, ensuring that the process proceeds smoothly and hassle-free.
How long is a Help To Buy valuation valid for?
Help To Buy will normally accept the valuation up to 3 months after the date of valuation. If your loan redemption is not completed by then, we can provide a further Desktop Valuation to re-confirm your property's value. You must normally complete your transaction within 6 months of the original valuation date.
Provided the property has not materially changed since our original inspection, we can normally provide a Desktop Valuation for a nominal administration fee.
