Help to Buy Valuation in Forton

Homes England requires a Help to Buy valuation that complies with the RICS Red Book if you want to redeem your equity loan, sell a property bought through Help to Buy, or remortgage. Its purpose is to establish the current market value of the property, which is then used to calculate what you owe on the equity loan. It is not the same as a standard mortgage valuation, because it has to follow specific Homes England requirements as well as RICS Red Book methodology. Without an approved valuation, you cannot move ahead with equity loan redemption or the sale of your Help to Buy property.

Fees for Help to Buy valuations in Forton and the Wyre area typically start from £350 for standard properties. The final cost depends on the property type, its size, and where it is located within Forton. Larger homes, or properties in multiple occupancy, may attract a higher fee. When you contact us, we can give you a specific quote based on your circumstances. Our pricing is transparent, with no hidden fees.

Most physical inspections take between 30-60 minutes, depending on the size of the property and how complex it is. The full RICS Red Book report is then usually delivered within 5-7 working days of the inspection. If required, we can sometimes arrange an expedited report for an additional fee, for example where there is a deadline for equity loan redemption or an agreed property sale. We work efficiently, but we do not cut corners.

If the value of your property has fallen, the amount you need to repay on the equity loan may be lower than the amount you originally borrowed, which can be helpful. Even so, there may be other costs to consider, including any early repayment charges attached to your particular Help to Buy agreement. We suggest discussing your own position with Homes England or your financial adviser before you proceed. Our role is to provide the valuation you need so you can see where you stand.

Yes, in many cases a Help to Buy valuation prepared to RICS Red Book standards is accepted by mortgage lenders for remortgage purposes. It gives the market evidence a lender needs when assessing the property for a new mortgage. Even so, it is sensible to check with the lender involved, as some have additional requirements. A few may still ask for their own valuation, even where you already have a valid RICS report.

It helps if you can provide any relevant title deeds, the original Help to Buy agreement, building specifications where available, and details of alterations or improvements made since purchase. For renovations or extensions, documents such as planning permissions or building regulation approvals can also be useful. When you book, we will talk through any specific requirements and advise on what is most helpful to have ready for the inspection.

Once the valuation report is with you, it can be sent to Homes England as part of the equity loan redemption process, or passed to your mortgage lender if you are remortgaging. Homes England then uses the valuation to calculate the repayment due on the equity loan. If the property is being sold, the estate agent will use that figure to set the asking price. Our team can talk you through the next steps after the report arrives.

To determine market value, we compare the property with recent sales of similar homes in Forton and across the wider Wyre district. We assess comparable houses by size, type, condition, and location. For Help to Buy valuations, we focus in particular on sales from the last six months so the evidence is current. We also take into account any local market trends that are affecting property values in Forton.