Help-to-Buy Valuation in Godmanchester

A Help-to-Buy valuation is a specialist property assessment we carry out when you are selling, repaying your equity loan in full, or remortgaging. It is not the same as a standard mortgage valuation. For this, we use a RICS registered valuer working to the RICS Red Book (Valuation Global Standards), with a detailed inspection of the property and a market value assessment prepared to meet Homes England requirements.

Your equity loan is worked out as a percentage of the property's value, usually up to 20%, or 40% in London. When you sell, or once you reach the end of the loan term, you repay that loan share plus any increase in the property's value. In Godmanchester, detached homes average £489,207, while terraced properties sell for about £257,271, so the loan figure can differ quite a bit depending on the property type and when you bought.

In Godmanchester, our RICS registered valuers know the local market well, from newer schemes such as Romans Edge to wider Huntingdonshire price movement. We prepare a valuation report that satisfies all Homes England requirements and can be used for equity loan redemption, a sale, or a remortgage.

For the valuation, our valuer inspects the property in person, measures every room, checks the condition of the building fabric, and takes photographs for the report. After that, we review comparable sales in PE29 2 and across the wider Godmanchester market to arrive at a current market value in line with RICS Red Book standards.

• RICS Red Book compliant
• Homes England approved
• Market value assessment
• Property condition report

On the sale of a Help-to-Buy property in Godmanchester, you repay the original equity loan share, adjusted up or down in line with the change in property value. Say you took a 20% equity loan on a home worth £300,000 and later sold it for £357,110. In that case, the repayment would be £60,000 plus the increase in value share, approximately £11,422 in this scenario.

We know these equity loan calculations can be awkward to untangle, so our valuers set out a clear picture of what is owed to Homes England. That clarity matters in Godmanchester, where prices have remained fairly steady with a 1.0% increase over the last 12 months, and accurate figures help both buyers and sellers understand their position.

Planning to remortgage a Help-to-Buy property means having a current valuation in place, because lenders use it to decide how much they are prepared to lend. Our RICS reports are accepted by all major UK lenders, giving you a dependable basis for a remortgage in the current Godmanchester market.

If the property's value has fallen since you bought it, you still repay the original equity loan amount, although there may be no growth value to pay. We work out the exact sum due to Homes England and explain the numbers clearly, so you know where you stand.