Previously we have regularly provided valuation reports for Help to Buy purposes. In order to provide these valuations an internal inspection of the relevant property was undertaken. However, in light of the current Covid-19 situation Target (HCA), who undertake administrative duties in relation to the Help to Buy scheme, have advised that they will know accept a valuation provided on an External Inspection/Desktop basis.
As no internal inspection would be undertaken they have stated that their requirements in relation to comparable evidence will be amended as follows:-
The surveyor must provide at least six comparable properties and sale price. If six are not available, the surveyor must state this clearly. These comparable properties must be like for like in terms of type, size, and age and within a two-mile radius to the property being valued. They must also be within 10% of the market value of the property.
We are undertaking valuations on this basis and are happy to provide a quotation accordingly.