Help to Buy Valuation in CB23

A Help to Buy valuation is the RICS Red Book valuation you need when you want to redeem your equity loan, remortgage your property, or sell. Under the Help to Buy scheme, the government provides an equity loan of up to 20% (40% in London) of the property value. When it is time to repay the loan or change your mortgage, the lender asks for an independent valuation to establish the current market value and calculate the repayment amount. Our team will talk you through the process and complete the paperwork properly for submission to your lender or Help to Buy administrator.

Our Help to Buy valuations in CB23 begin at £450 for standard properties. The final fee depends on things such as the property type, size, and value. A larger detached home in Bar Hill or West Cambourne, for example, may cost more than a flat in Comberton. The price is fixed and includes the inspection, the full report, and VAT. We keep pricing competitive across all CB23 areas and can give you a no-obligation quote based on your property details.

The site visit usually takes 30-60 minutes, depending on the size and complexity of the property. We then aim to send the written report within 48 hours of the inspection. All told, from booking to receiving the report, the process usually takes around 5-7 working days. If something is urgent, we can offer an expedited service where possible, just mention it when booking if you need the report sooner.

If the valuation comes in lower than you expected, or lower than the original purchase price, that will affect the amount you repay on the equity loan. If the property has fallen in value, you may find yourself in "negative equity", where you owe more than the home is worth. Even so, the recent Help to Buy changes mean you cannot be asked to repay more than the original loan amount, plus a share of any increase in value. Our valuers always give an accurate, market-aligned valuation, and if you disagree with it we can talk through the comparable evidence and explain how the figure was reached.

Yes, a Help to Buy valuation report can usually be used for both equity loan redemption and remortgaging. That said, if you are remortgaging and no longer need to deal with the Help to Buy equity loan, a standard mortgage valuation may be all that is required. We can advise on the best option for your situation. In some cases, if you stay with the same lender and already have a Help to Buy valuation, they may accept it for remortgage purposes, which could save extra costs.

We carry out Help to Buy valuations across the whole CB23 postcode area, including Cambourne (Great Cambourne, West Cambourne, Lower Cambourne), Bar Hill, Comberton, Hardwick, Caxton, Elsworth, Bourn, and the surrounding villages. Our valuers know the main developments in the area, including the Taylor Wimpey sites in West Cambourne and the different housing schemes across the region. Wherever your property sits in CB23, we can arrange a valuation that suits your needs.

Several CB23-specific factors can move your valuation. Prices are down around 2% year-on-year, and listing prices have dropped 14.16% from six months ago, so valuations may come in below peak 2023 levels. The number of new build homes in places like West Cambourne also affects the market, as does the pool of comparable sales. Our valuers look at all of that, including the local conditions in Bar Hill and Great Cambourne, where sales volumes have been around 130 and 80 transactions respectively in the last two years.

Yes, if you are selling a property with an outstanding Help to Buy equity loan, you will need a RICS Red Book valuation to work out how much has to be repaid. The equity loan is repayable at the current market value, as of April 2023, so getting the figure right is essential. Sale proceeds go first towards the mortgage, then the equity loan repayment, with anything left over coming to you. Our valuation report can be used for this purpose and will be accepted by Help to Buy administrators.