If you’re selling or remortgaging a property you’ve bought through the Help to Buy equity loan scheme you’ll need a Help to Buy valuation to comply with the requirements of the scheme.
Why is a Help to Buy valuation required?
An independent valuation is required to confirm the value of the subject property to determine the repayment amount of the equity loan. The valuation is required to be completed in line with the ‘RICS Valuation - Global Standards’, also known as the ‘Red Book’, by an RICS Registered Valuer.
Valuation Process:
Instruction - You'll need to instruct a RICS registered valuer to conduct the valuation.
Inspection - The valuer will visit your property to inspect its condition, size, and other relevant factors.
Market Research - They'll research recent property sales in your area to determine the current market value.
Report - Following the inspection and research, the valuer will provide a detailed report outlining their findings and the property's valuation.
Importance of Accurate Valuations:
Accurate valuations are crucial for making informed decisions regarding your property. Overvaluing or undervaluing your property can have financial implications, especially when remortgaging or repaying the equity loan.
Navah Consulting Ltd provides a full range of valuation services including Help to Buy valuations.
Be sure to get in contact to discuss your requirements!
