Help to Buy Valuation in Charnock Richard

A Help to Buy valuation is a RICS Red Book valuation required by the Help to Buy equity loan scheme. It is not a building survey or a condition report, but a formal market valuation that sets the current value of your property. The Help to Buy scheme ran from 2013 to 2023, and if you are redeeming, staircasing, or selling, an official valuation is required. Our team handles these reports with the technical detail the process calls for, and every one is prepared to strict RICS Red Book standards.

To redeem your equity loan in full, staircase and increase your ownership share, or sell your property, the Help to Buy agency asks for an assessment from a RICS registered valuer. The valuation has to be carried out by a RICS member firm under the Red Book, RICS Valuation - Global Standards, methodology so the approach is consistent and accurate. We look at comparable sales from Charnock Richard, as well as nearby places such as Chorley and Leyland, to arrive at the market value of your property.

In Charnock Richard, our Help to Buy valuations are carried out by RICS registered surveyors with experience across this part of Lancashire. We know the local market and the way newer schemes, including Charnock Grove and Church View, can influence values in the village. Our team has valued many homes here, so we understand how property type, size and condition all feed into market value in Charnock Richard.

Recent years have brought a notable amount of new housing to Charnock Richard, and some of these homes may have been bought with Help to Buy or through shared ownership. At Church View on Darlington Street, the development includes the Whitton, Skywood, and Denwood house types, with prices from £284,995 to £399,995. Some homes have also been marketed with Part Exchange or 5% Deposit Contribution options, which has made them appealing to first-time buyers in this part of Lancashire.

On Charter Lane, Charnock Grove by Your Housing Group provides 76 affordable new homes, made up of two, three, and four-bedroom family homes plus two-bedroom bungalows through shared ownership. Homes here include The Cholmondeley bungalow, with a 40% share from £90,000, and The Ramsdell four-bedroom semi-detached, with a 40% share from £136,000. The scheme also uses modern construction features such as air source heat pumps and electric car charging points, and those current energy efficiency standards are relevant in our valuations.

Another new build scheme in the village is Hunters Lodge on Preston Road, a development of nine bespoke four-bedroom detached homes. Stock like this feeds into the wider market picture we consider when carrying out Help to Buy valuations in Charnock Richard. We know the arrival of new build homes can influence the value of older properties in the village, and we reflect that in our analysis. The shared ownership homes at Charnock Grove matter here too, particularly where owners need staircasing valuations as they build up a larger equity share.

Charnock Richard is a village and civil parish in the borough of Chorley, Lancashire, about 4 miles north of Wigan and 6 miles south of Preston. The 2021 Census records a population of 1,817 residents living in 796 households, with an average household size of 2.28 people. The village lies on the A49 and is widely recognised for Charnock Richard Services on the M6 motorway, a notable employer and local landmark. So while transport links are convenient, it still reads as a residential community rather than a through-route.

There are 12 listed buildings in the village on the National Heritage List for England. Among them are the Grade II* Bolton Green Farmhouse and Lower House Farmhouse, both historic sandstone buildings with slate roofs. Christ Church and Charnock Richard Church of England School are also listed, which speaks to the historic character found in parts of the village. That older stock sits alongside modern new builds, giving our surveyors a broad mix of property types to weigh up during valuations.

Flood risk can matter in parts of Charnock Richard, especially around Charter Lane, where at least one property had internal flooding in December 2015. The River Yarrow runs near Pincock Brow, and both the Chorley District Flood Report and the Central Lancashire Strategic Flood Risk Assessment cover risk from all sources, including surface water. Our surveyors note any relevant flood risk issues during the inspection where they may affect value. It is also something buyers should think about carefully because of insurance and future resale value.

The Charnock Richard market has seen a bit of movement. home.co.uk reports prices 22% down on the previous year in some recent periods, while Bricks&Logic shows a 2.3% increase. The average property price is approximately £302,811, with detached homes at £442,750, semi-detached at £268,667, and terraced properties at £214,088. Those local conditions matter for a Help to Buy valuation, and our surveyors use the latest available data so the figure reflects the current market.