Help to Buy Valuation in Cottam

A Help to Buy valuation is a specific property valuation required by the Homes and Communities Agency if you want to sell your Help to Buy property or remortgage. It has to be carried out by a RICS registered valuer and it must follow the RICS Red Book standards. The valuation establishes the current market value of the property, which is then used to calculate the equity loan repayment amount. In Cottam and across the wider East Riding area, we know the local market conditions and can provide an accurate assessment that meets all HCA requirements.

Our Help to Buy valuations in Cottam and the East Riding of Yorkshire start from £300. The final cost depends on points such as the size and type of the property, and we can give you a quote before we go ahead. As a guide, a standard three-bedroom terraced property in Cottam would sit at the lower end of the pricing scale, while a larger detached property would be priced accordingly.

Once we have finished the inspection, we typically send out the official valuation report within 3-5 working days. We know timing can be crucial, especially if a sale is already under way, so fast turnaround matters. If you need the report urgently, tell us when booking and we will do our best to work to your timeline.

Yes, a formal valuation is usually needed if you have a Help to Buy equity loan and want to remortgage your property, whether you are porting the loan to a new mortgage or regularising your borrowing. Lenders will want a RICS Red Book compliant valuation. It is separate from a standard mortgage valuation and relates specifically to the equity loan part of the Help to Buy arrangement.

A drop in property value after purchase through Help to Buy can leave you in negative equity. That means the property is worth less than the mortgage plus the equity loan. We can provide an accurate current market valuation, and you should then seek advice from the Homes and Communities Agency or a financial advisor on the options available. In Cottam, with prices around 3% below the 2023 peak, some homeowners may be facing exactly that, especially those who bought near the top of the market.

Yes, it is still possible to sell a Help to Buy property in negative equity, but the equity loan amount still has to be repaid. If the sale proceeds will not cover the loan, the next step is to contact the Homes and Communities Agency to discuss your options. Our valuation gives you a clear view of your position, and getting that figure early can help you plan properly and avoid surprises when the equity loan is repaid.

In the report, we set out the current market value of the property, the comparable sales relied on, photographs of the home, and a detailed breakdown of the valuation methodology. It will be presented in line with RICS Red Book standards and accepted by the Homes and Communities Agency for your Help to Buy transaction. We also explain what the valuation may mean in your particular situation.

If you do not agree with the valuation, we can review it. Our team will go back through the evidence used and explain in detail how we reached the figure. If you still have concerns after that, you can instruct a different RICS valuer for a second opinion, although that would be at your own cost. We always base our valuations on current market evidence in the Cottam area.