Valuation – Help To Buy

HELP TO BUY

Have you purchased your home through the Help to Buy scheme and are now in the process of discharging your Help to Buy loan by selling your property? If so, you’ll need an independent valuation to establish the accurate, current value of the property. Trinity Rose are here to help.

Every member of the valuation team at Trinity Rose Chartered Surveyors are RICS registered valuers and comply with RICS ‘Red Book’ valuation criteria. That means you can be confident that your valuer will follow a strict set of professional and ethical standards for property valuations.

Professional, independent RICS valuations for Help to Buy owners

When you decide to repay your government loan or are in the process of selling your home purchased with assistance through the Help to Buy scheme which ended in March 2023, a Help to Buy valuation prepared by an RICS Registered Valuer will determine the value to be redeemed.

What is included in a Help to Buy house survey and valuation?

Every Trinity Rose Chartered Surveyors’ Help to Buy house survey and valuation is carried out by a RICS registered valuer with good local knowledge and includes:

  • An overview of the property and its location
  • Information about construction and general condition with supporting photographs
  • Details of comparable properties sold as market evidence
  • Market Value including a detailed description of the evidence and market rationale used for the valuation
  • Keep in mind that Help to Buy valuations are valid for three months, but can be extended in some cases.
Many clients feel daunted or confused by the Help to Buy process, but we’re here to help. Our approachable team have been in this industry for years and will be happy to answer all your questions.
 
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Find out more

If you’d like to arrange Help to Buy valuation, we’re here to help. Our knowledgeable, approachable team will be able guide you through the entire process, giving you complete peace of mind.

When it comes to Help to Buy, we have years of experience in helping clients with their house survey and valuation. We’ve also created a list of FAQs at the bottom of this page which answer a lot of common client queries.

Alternatively, if you’re thinking of buying, selling or repaying a loan under the Help to Buy scheme, please get in touch and we’ll happily talk you through your options.

  • An independent Help to Buy valuation is necessary if you are buying, selling or repaying using the scheme
  • Help to Buy valuation reports include a market value, any pertinent notes and evidence of how the valuation was established
  • Help to Buy valuations are valid for three months, but can be extended in some cases

We offer Help to Buy Valuations in Hampshire and Surrey including Alton, Alresford, Farnham, Chandlers Ford, Bishops Waltham, Park Gate, SouthamptonWinchester Romsey, Lymington, Lyndhurst, Salisbury, Christchurch, BournemouthBasingstokePortsmouth, Poole, Parkstone, Brockenhurst, Ringwood, Verwood, Fordingbridge, The New Forest and Wimborne and the surrounding areas.

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FAQS

What was Help to Buy?

In a nutshell, Help to Buy was a government-backed initiative to help people buy their first property and get onto the property ladder despite not having a large deposit.

What were the different types of Help to Buy?

‘Help to Buy’ was an umbrella term covering several schemes which were all aimed at first-time buyers. Let’s take a glance at a few of the schemes:

1. Help to Buy equity loan
This scheme was available to first time buyers buying a new build property in England. Applicants put down a deposit to cover at least 5% of the property value; the government lent them an ‘equity loan’ covering up to 20% of the property’s value; the applicant used a mortgage to cover the remaining value. There were regional price caps limiting the price of property for which the loan could be used e.g. £437,600 in the South East of England; £349,000 in the South West. Successful applicants were required to start paying interest on the government loan after five years.
 
2. Forces Help to Buy
This scheme was for people serving in the Armed Forces, who had completed a minimum length of service; met certain medial criteria; and had at least six months of service left in their contract. They were able to borrow up to 50% of their salary (£25,000 max.) interest free to put towards the deposit/legal fees when buying the property.  They were required to repay the loan within 10 years. 
 
3. Help to Buy Shared Ownership
This scheme was more commonly called ‘shared ownership’ and allowed an applicant to buy a share of a property and rent the rest. They were expected to buy 25% – 75% of the property value and a housing association would own the rest while the applicant rented that part of the equity share from them. 

How long was the scheme open for?

The scheme closed to new applicants in March 2023.

If you’d like to arrange Help to Buy valuation, we’re here to help. Our knowledgeable, approachable team will be able to guide you through the entire process, giving you complete peace of mind. When it comes to Help to Buy, we have years of experience in helping clients with their house surveys and valuations. 

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