Help to Buy Valuation in Draughton

New applications for Help to Buy closed on 31 October 2022, and the last completions had to take place by 31 May 2023. Even so, many owners who bought through the scheme are now coming to the point of remortgaging, selling, or repaying the equity loan, and that calls for an independent RICS valuation. In Draughton, where values have held up well within the Yorkshire Dales market, getting that figure right matters if you are moving on from your Help to Buy arrangement.

Our RICS-registered valuers know the Draughton market well. The village sits in the Craven District, now part of North Yorkshire Council, and has a mix of traditional stone homes, including several Grade II listed buildings. In Draughton, that often means historic cottages, converted barns and sizeable period houses, all of which need a valuer who understands local building methods and materials.

The report has to be addressed to Homes England and follow set rules, including at least three comparable properties from within a 2-mile radius of your Draughton home. Our surveyors know recent sales across the BD23 area, including Low Lane, The Spinney and nearby streets, so we can support the valuation with well-matched comparable evidence.

Because Draughton sits close to Skipton, we can also look across the wider BD23 and BD postcode districts when comparable evidence is thin on the ground. That helps in a village of this size, where annual sales numbers are often limited. We know how to handle the balance between staying local and dealing with the practical reality of rural North Yorkshire transaction volumes.

Draughton is a civil parish in North Yorkshire, in the Yorkshire Dales, and it contains eleven Grade II listed buildings. It is described as a stone-built village, with listed properties built mainly of limestone, with sandstone dressings and stone slate roofs. Those traditional construction details are typical of the area and they need proper understanding during valuation work.

The village also falls within a designated Conservation Area, and Historic England has raised concerns about proposals that could urbanise or suburbanise parts of it, underlining the need to protect its rural appearance. In Draughton, we take account of conservation constraints, listed status and the effect both can have on value and marketability in a village buyers actively seek out.

Local geology here includes mudstone and limestone, and that has helped shape the way buildings were constructed. Draughton properties often show classic Yorkshire Dales features, solid walls, stone slate roofs and period details, all of which add character but can call for close assessment during the valuation process.

We have inspected a wide range of Draughton homes, from older cottages to converted agricultural buildings. That experience gives us a clear sense of how the village's conservation status can influence value as well as the scope for future alterations, which matters to both buyers and sellers.

A Help to Buy valuation has to be carried out by an independent RICS-registered surveyor and follow the rules in the RICS Valuation - Global Standards, the Red Book. The valuer must be separate from any estate agent involved in the deal and must not be related to, or known to, the client. That independence protects both the owner and Homes England, and keeps the valuation objective.

For properties in Draughton, we look for comparable sales within a 2-mile radius where we can, using homes that are like-for-like in property type, size and age. Given the village's setting near Skipton and within the Yorkshire Dales, we can also draw on relevant sales evidence from the BD23 area and nearby BD and LS postcode districts.

The finished valuation report is issued on headed RICS paper, signed by the surveyor and addressed directly to Homes England. It states the current market value of the property, which is the figure used to calculate what you need to repay on the equity loan. We complete the documentation correctly so you are less likely to face delays with a remortgage or sale.

Because the report is only valid for three months, it is worth thinking carefully about inspection timing. If you are preparing to sell or remortgage, we usually suggest booking once your timetable is clear, so the valuation stays valid through to completion.

Draughton does not behave like a larger market such as Skipton or Leeds. Sales can be sparse in a given year, so an accurate valuation depends on a surveyor who understands rural North Yorkshire pricing and the details behind it. We have direct experience of the homes that come to market here, from traditional stone cottages to substantial period properties such as Draughton Hall.

Valuing in the village is made more involved by the conservation area status and the number of Grade II listed buildings. Those points can influence market value and also affect the likely pool of buyers, so we factor them into our assessments. We also know how planners and conservation officers tend to view changes to historic buildings, which feeds into our approach.

Draughton attracts buyers who want to stay close to Skipton without giving up a rural setting. That mix has an effect on value, and we look at comparable sales in Draughton as well as nearby villages so the valuation stands up to scrutiny.

Draughton may be a small village with a population of approximately 270, but our work covers the wider BD23 postcode area and extends into North Yorkshire. We regularly value homes in nearby Skipton, Grassington, Embsay and other villages in the Craven district. That broader patch gives us a stronger base of comparable sales evidence for properties across the area.

Being close to Skipton gives Draughton good transport connections without losing its rural feel. Owners here can make use of Skipton's amenities while living in a peaceful historic Yorkshire Dales village. We understand how that combination feeds into local property values.

Repaying an equity loan can seem complicated, especially if RICS valuations and Homes England rules are new to you. We are on hand at each stage, from booking the inspection through to explaining the valuation report and what comes next with repaying the equity loan.