At H&S Surveyors, our experienced surveyors offer a wide range of property valuation services for different client circumstances, including assistance with Help-to-Buy valuations. Working throughout South East Devon, we have helped hundreds of buyers and sellers with mortgage valuations, inheritance tax and probate valuations and Help-to-Buy valuations.
Help-to-Buy is a government scheme designed to help those who may be struggling to save a deposit for their first home, or move up the property ladder due to limited equity. Since the scheme launched in 2013, over 120,000 homes have been purchased using Help-to-Buy. 2017 was the first year where interest on these loans became payable, meaning that we have seen a growing requirement for Help-to-Buy valuations.
If you have purchased a home using the Help-to-Buy scheme, you can begin making repayments at any point, either by re-mortgaging or paying the loan back in instalments.
Why do I need a Help-to-Buy valuation?
As an equity loan, the Help-to-Buy payments will need to reflect the current market value of your property, which may have increased (or decreased) since the purchase was completed. In order to ensure that you are paying the appropriate rate, you will need a Help-to-Buy valuation, carried out by an independent, RICS-accredited Chartered Surveyor.
Once you have received your valuation, your Help-to-Buy scheme provider will use the information to calculate the value of your loan, and the amount you will need to begin repaying.
How H&S Surveyors can help
At H&S Surveyors, we have been assisting homeowners with Help-to-Buy valuations for several years. We fully understand the complexities of re-mortgaging your home, and will do everything possible to ensure that the process of repaying your equity loan starts smoothly.
Our Chartered Surveyors have been working in the local area for over 25 years, and have a wealth of experience in valuing many kinds of property along the eastern coastline of Devon, and across the Dartmoor National Park.
We are proud to be RICS accredited, so that you and your lender may be confident in the consistency and quality of our work. We value the trust of our clients, and work hard to maintain our track record of excellent customer service.
If you would like a free quote for a Help-to-Buy valuation, or if we can answer any questions you may have about any of our services, please don’t hesitate to get in touch. Call 01626 335008 to speak to a member of our team directly, or send us an email using the form on our contact page and we will respond as soon as possible. We look forward to hearing from you.
Read more about our other property valuation services here.
Do I qualify for the government’s Help-To-Buy scheme?
In order to be eligible for the government bonus, the property must be located in the UK and be the only home that you will own and occupy. It must have a purchase price of up to £250,000 (up to £450,000 in London) and be purchased with a mortgage. Please double check, as eligibility criteria can change.
Is it better to buy through Help-To-Buy or carry on renting?
This depends on your personal situation. The government scheme is designed to help people who have decided to buy and who have a deposit of at least 5% and can afford the mortgage payments. However, you should also factor in other purchase costs such as legal fees and Stamp Duty.
How long will the Help-To-Buy scheme run for?
The government’s Help-To-Buy equity loan scheme will be extended from 2021 to 2023, but eligibility will be restricted to first time buyers purchasing new build homes. There will also be new regional price caps that could reduce the maximum value of properties that can be bought with the help of the scheme.