Help to Buy Valuation in Cumrew

A Help to Buy valuation is not the same thing as a standard mortgage valuation. A mortgage valuation looks at whether the property is suitable security for a loan, whereas a Help to Buy valuation has to follow the specific criteria set by the scheme administrator. It sets the maximum equity loan available, usually worked out as a percentage of the property's purchase price. In Cumrew, where values can differ sharply between modern builds and historic listed buildings, getting that figure right is key to planning your finances.

Valuing homes in Cumrew is not always straightforward. In the CA8 9DD postcode area, there have been only 3 property sales in the last 3 years, so comparable sales evidence can be thin on the ground. That makes local RICS surveyor knowledge especially important. Our surveyors know how the Cumrew Conservation Area can add a premium, and how listed building status can influence value as well. We have valued homes like Rose Cottage, sold for £275,000 in December 2020, and The Croft, a semi-detached house that reached £355,000 in August 2020.

Cumrew has plenty of homes built with traditional materials, including thick sandstone walls and green slate roofs, all part of the village's architectural heritage. Across the village, there are historic farmhouses and cottages dating from the late 17th to the 19th century. Cumrew Farmhouse, for example, has rendered walls with painted raised quoins, while Cumrew House is built in red sandstone ashlar. Period buildings like these often need a little more thought during valuation, because their individual features can affect market value and sometimes their suitability for certain mortgage products. Our valuers are used to assessing this kind of construction and judging what it means in the local market.

Cumrew's past was shaped largely by agriculture, especially sheep-rearing, along with the lime-burning industry of the 19th century. You can still see that history in the village, where many former agricultural buildings have since been turned into homes. When we carry out a Help to Buy valuation in Cumrew, we look beyond the property's present condition and setting. We also weigh up its historical context and the premium buyers often attach to homes in this scenic part of Cumberland.

• RICS registered surveyors
• Help to Buy scheme compliant
• Independent valuation
• Fast turnaround times

Cumrew has a designated Conservation Area covering much of the village centre, and that can shape both valuation and future renovation plans. A property inside this area may come with added considerations. Listed building status applies to all eleven of Cumrew's historic buildings, which can affect insurance and limit certain alterations. Our surveyors regularly value heritage property and take those points into account. Among the better known listed buildings are the Church of St Mary, Cumrew Farmhouse and Adjoining Barn, and Cumrew House and Adjoining Buildings.

Different sandstone types appear across Cumrew's older buildings, and each one can play a part in value. Cumrew Farmhouse has rendered walls with painted raised quoins, while Cumrew House is built from red sandstone ashlar. Construction like this gives the village much of its character, though it can also bring specialist insurance and maintenance issues. If a home has heritage status, tell us when arranging the Help to Buy valuation so we can allow enough time for a proper inspection. Historic features often attract a premium locally, but they can call for a more detailed assessment too.

Flood risk can have a bearing on value in Cumrew. The village was badly affected on June 28, 2012, when Cumrew Beck overflowed during an extreme rainfall event. Water volume overwhelmed the beck, and flood water then entered the village by way of a fell side track, along the highway, and into properties via vehicle crossings. In some spots, buyers may need flood risk assessments, and that can influence both valuation and mortgage eligibility. Our surveyors know the local flood history and reflect it in the valuation report. We also advise buyers to consider the possible flood risk in their purchase decision and check that suitable insurance cover is available.

Cumrew's position at the foot of the Pennines brings other environmental factors into play as well. Coastal erosion is not an issue here, but the local topography can still affect value for properties in certain positions. Our valuers look at the whole picture when assessing homes in the Cumrew area, so the Help to Buy valuation reflects the true market value.

Cumrew is better known for historic homes, but there is some new-build potential in the area as well. Recent planning applications include proposals for self-build dwellings at Gateshaw Mill Farm, where a Certificate of Lawful Existing Development was applied for to confirm that planning permission for the demolition of existing agricultural sheds and erection of a new estate house has been lawfully commenced. A separate application at the former Milking Parlour, Townfoot Farm, seeks approval for the erection of a self-build dwelling.

For first-time buyers, these new build opportunities can open another route into the Cumrew market through the Help to Buy scheme. New homes may come with benefits such as modern insulation, heating systems and builder's warranties, but they still need to be valued carefully so the purchase price matches true market value. We handle valuations for both new and existing properties, and we know how to judge new build developments against the local market. If you are thinking about a new build in the Cumrew area, we suggest getting the valuation arranged early so you can check the property meets Help to Buy scheme requirements.