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Help to Buy Valuations

Tom Smith, A FRICS chartered surveyor from Nottinghamshire, sat at a Kitchen tablet writing a home buyers survey

What is a Help to Buy Valuation?

If you bought your home under the government-backed Help to Buy scheme and you are now looking to sell you property or you wish to buy-back complete ownership of your property then you will require a Help to Buy valuation.

Help to Buy Scheme

The Help to Buy shared equity scheme is a government backed scheme where 1st time buyers can borrow up to 20% of the cost of a new build house interest free for 5 years.

When Do I Require a Help to Buy Valuation?

On the assumption you have used the 'Help to Buy scheme' and want to sell your home, or pay back the loan, then you will require a valuation carrying out on your property by a RICS Registered Valuer.  The scheme is now administered by Homes England. You will need to send the valuation report to them. Home England now specify that, for certain types of property the valuation must be prepared by a FRICS or MRICS surveyor and may not accept a report from a AssocRICS surveyor, (who are not Chartered).

It Is Easy To Get A Home England Help To Buy Valuation Report?

I Can Attend Your Property Typically Within 48 Working Hours and Produce A Report For You To Give To Your Help To Buy Agent and Home England.

Required Criteria for Help to Buy

Upon instructing a surveyor to carry out your survey, the following criteria must be met before instructing​

  • You must hire a RICS regulated independent chartered valuer to carry out the valuation.

  • Must be registered with RICS and be independent to an estate agent

  • Cannot be related to you

  • Valuer must provide at 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 property

  • Valuations carried out for bank or mortgage purposes will not be accepted

  • The valuer must inspect the property interior and provide a full valuation report (not a survey)

  • The report must be on headed paper, signed by a RICS surveyor, date, and addressed to the appropriate association.

Aerial shot of old market square in Nottingham whilst it is having a survey carried out

My promise is not to confuse you with jargon or to hide behind recommendations for more specialist reports 

- Tom Smith

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