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When will I need a Help To Buy Valuation?

Help to Buy LogoIf you have used the Help To Buy scheme and are now in a position to sell your home, remortgage, or start repaying your loan, then you need to get an RICS regulated valuation.

An RICS valuation is needed in order to work out the amount of deposit which should be repaid. Watsons carry out Help To Buy Valuations that follow the exact requirements of the scheme and inspect the inside and outside of the property.

Help to Buy Valuation

It is important to remember that the valuation is only valid for 3 months. After 3 months, there is a two-week opportunity for you to request an updated “desktop” valuation which will extend your valuation for a further 3 months. After those 2 weeks, the Scheme will require a re-inspection.


What criteria must be met?

You MUST hire a RICS regulated independent chartered valuer to carry out the valuation:

  • The chartered valuer must be registered with RICS and be independent to an estate agent.
  • They cannot be related to you.
  • The chartered valuer must provide at the least ‘3 comparable properties and sale prices’.
  • Those properties must be like-for-like, with regards to property type, size, and age, and must be within a 2-mile radius of your own property.
  • Valuations carried out for bank or mortgage purposes will NOT be accepted.
  • The chartered valuer must inspect the property interior and provide a full valuation report [not a survey].
  • The Valuation Report needs to be presented be on headed paper, signed by a RICS surveyor, dated, and addressed to the appropriate association.

Book Your Survey:

If you’re looking to book a home survey, simply complete the form below, providing full property details, and obtain a quote very quickly. If you decide to go ahead and book, we will also conduct the survey on a date and time convenient to you.

Providing us with your email address will enable you to register with our online booking system – by doing so, you will be able to log-in to your surveys account at any time to look at your quote(s), monitor the progress of your report(s), communicate with our Client Services Hub, and retrieve your final report(s) via your account.

INSPECTION DETAILS

Our Surveyor will inspect the property and look at how it’s built, where it is and the size and number of rooms. The general condition of the property will also be taken into account, but will not be inspected in detail. The valuation will be based on the Surveyor’s observations, local knowledge and comparisons with recent sales of like-for-like properties in the local area.
The valuation will include:
Inspection by a Surveyor local to the area.
Overview of the property and its construction.
Overview of the property’s general condition.
Additonal photographs.
Details of nearby similar properties
Valuation with a description of the evidence and assumptions used.
Help to Buy Example Report

EXAMPLE REPORT >>

VIEW EXAMPLE VALUATION REPORT

For more information, please contact your Local Chartered Surveyor, email us on: survey@watsons-property.co.uk
Alternatively, you can request a quote or book online!
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