If you bought a property through Help to Buy and want to sell, remortgage, or repay your loan, you need a RICS Help to Buy Valuation. This step is key to find your home's market value. It ensures fairness in your repayment or transaction.
In this guide, we'll walk you through getting a RICS-approved Help to Buy Valuation. We'll explain why it's important and how to avoid common mistakes.
What Is a Help to Buy Valuation?
A Help to Buy Valuation is a professional check of your property's value. It's done by a RICS (Royal Institution of Chartered Surveyors) registered surveyor. It's crucial when:
- Selling your Help to Buy home
- Repaying your equity loan in full
- Staircasing (paying off part of your equity loan in chunks)
- Remortgaging your home
Since Help to Buy involves an equity loan from Homes England, they need an independent and RICS-approved valuation. This ensures the repayment amount reflects the true market value.
Step-by-Step Guide to Getting a RICS-Approved Help to Buy Valuation
Step 1: Find an RICS-Registered Surveyor
To get a valid valuation, you must hire a RICS-approved surveyor. Not all valuations are accepted. Only those by a RICS-registered professional will do.
How to Find a RICS-Approved Surveyor:
- Visit the RICS website and use their directory to find a certified surveyor in your area.
- Look for local RICS-registered firms that specialize in Help to Buy valuations.
- Check online reviews or ask for recommendations from homeowners who have used a Help to Buy RICS valuation service.
Pro Tip: Make sure the surveyor is independent and not tied to an estate agent or lender. Homes England won't accept biased valuations.
Step 2: Book Your Valuation Appointment
After picking a qualified surveyor, book an appointment for them to visit your home. They'll check your property's condition, location, and recent sales in your area.
How long does a Help to Buy RICS valuation take?
- The on-site inspection usually lasts 30 to 60 minutes.
- The final valuation report is typically delivered within 2 to 3 working days.
Step 3: Receive Your RICS Help to Buy Valuation Report
After the inspection, the surveyor will give you a detailed valuation report. It will include:
- The current market value of your home
- Comparable property prices in your area
- A full breakdown of the surveyor’s assessment
- Their RICS registration details
Important: The valuation report is only valid for three months. You must submit it to Homes England within this time. If it expires, you might need an updated desktop valuation.
Step 4: Submit the Valuation Report to Homes England
After getting your RICS-approved Help to Buy Valuation, send it to Homes England for approval.
? What happens next?
- Homes England will check the report and tell you how much you owe.
- If they agree, you'll get a go-ahead to sell, remortgage, or repay your loan.
- If they need more info, they might ask for more documents or a new valuation.
Common Mistakes to Avoid in a Help to Buy Valuation
❌ Hiring a Non-RICS Surveyor – Only valuations from RICS-registered professionals are accepted.
❌ Submitting an Expired Valuation Report – If your report is older than three months, you’ll need a desktop update.
❌ Not Checking Comparable Property Prices – Homes England checks sales data, so a low valuation might be questioned.
❌ Failing to Account for Home Improvements – Any big upgrades should be included in the valuation.
How Much Does a Help to Buy RICS Valuation Cost?
The cost of a Help to Buy RICS valuation is between £150 to £400. It depends on:
- Your location
- The surveyor’s pricing
- The property's complexity
While it's tempting to choose the cheapest option, make sure the surveyor is experienced in Help to Buy valuations to avoid rejection.
How to Challenge a Low Help to Buy Valuation
If you think the valuation is too low, you can challenge it by:
- Gathering evidence – Get recent sale prices of similar homes in your area.
- Requesting a second opinion – Get another RICS surveyor for a fresh assessment.
- Providing details of home improvements – Mention any renovations or extensions that could justify a higher value.
Even though Homes England usually trusts RICS valuations, they will consider appeals with solid evidence.
FAQs on Help to Buy Valuations
1. How long is a Help to Buy valuation valid?
The valuation is good for three months. If it's older, you can ask for a desktop update instead of a full recheck.
2. Can I use a mortgage lender’s valuation for Help to Buy?
No, only a RICS-registered independent valuation is accepted by Homes England. Lender valuations are often not independent and might not show the true market value.
3. What if I disagree with the valuation?
You can challenge it by showing comparable property sales data or asking for a second RICS valuation.
4. Do I need a valuation if I’m not selling?
Yes, if you're repaying or staircasing your Help to Buy loan, a RICS valuation is needed.
5. How can I speed up the valuation process?
- Choose a surveyor who offers fast turnaround times.
- Ensure your home is in good condition before the inspection.
- Have recent comparable property sales data ready in case of disputes.
Final Thoughts
Getting a RICS-approved Help to Buy Valuation is key when selling, remortgaging, or repaying your Help to Buy loan. This guide helps you avoid delays, get an accurate valuation, and meet Homes England’s needs.
? Key Takeaways:
✔ Hire a RICS-registered surveyor
✔ Book your valuation before making financial decisions
✔ Submit the report to Homes England within three months
✔ Double-check the market data to avoid disputes
Need a trusted surveyor? Start your search on the RICS website today and secure a hassle-free Help to Buy valuation!
Would you like assistance in finding a surveyor near your location? Let me know, and I can help! ?
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You said:
Help to Buy Valuations | £240 incl VAT | Taylor Chartered Surveyors description
ChatGPT said:
Help to Buy Valuations | £240 incl. VAT | Taylor Chartered Surveyors
Looking for a RICS-approved Help to Buy valuation? Taylor Chartered Surveyors offers professional Help to Buy valuations for just £240 (incl. VAT) with a fast turnaround. Whether you're selling, staircasing, or repaying your Help to Buy loan, our experienced RICS-registered surveyors provide accurate and compliant valuation reports accepted by Homes England.
? Fixed Price: £240 incl. VAT
? Fast Turnaround – Reports within 2-3 working days
? 100% Homes England Compliant
? Nationwide Coverage
Book your Help to Buy RICS valuation today with Taylor Chartered Surveyors – trusted experts in property valuations. Contact us now! ?
