Help to Buy Valuation in GU24

The Help to Buy equity loan scheme was set up to help first-time buyers get onto the property ladder by offering an equity loan of up to 20% (or 40% in London) of the property’s purchase price. For homeowners in GU24 who bought through the scheme, there comes a point when the loan must be repaid, the property sold, or the initial five-year interest-free period brought to an end. In any of those cases, a formal RICS valuation is required before anything can move forward.

Our RICS-registered valuers in GU24 know the local market well. They are familiar with developments ranging from the Crest Nicholson homes at Keens Meadow in Pirbright, priced from £450,000 to £925,000, to the premium properties at Pirbright Manor by Cala Homes, priced from £699,950 to £1,295,000. We have also valued homes at The Laurels development by Shanly Homes, where prices run from £695,000 to £1,150,000. That local insight helps the valuation reflect the current market in this part of Surrey.

A full inspection covers both the inside and outside of the property. Our surveyor looks at the condition, compares it with similar homes that have recently sold in GU24, and prepares an independent market valuation that meets the strict standards set out in the RICS Red Book. We then submit the valuation to Homes England as part of the equity loan redemption process, with the report addressed directly to Homes England.

The RICS Red Book also says the valuation must ignore any improvements you have made that raised the property’s value, unless those works were required under the original purchase agreement. It is the property’s original condition at the time of purchase, plus reasonable wear and tear, that forms the basis of the figure. During the inspection, our valuer will talk through any exceptions and explain what they mean for the final valuation.

• Independent RICS Red Book valuation
• Internal and external property inspection
• Valid for 3 months
• Accepted by Homes England

GU24 covers a varied mix of villages and residential areas, each with its own character and its own effect on property values. Pirbright village is a designated Conservation Area, so special planning controls apply to protect its historic appearance. That can influence both the kind of changes owners can make and the appeal to buyers who like period features and a village feel. There are also numerous listed buildings within GU24, including homes, churches, and other historic structures, all of which add character and bring particular valuation considerations.

Under the ground, GU24 has a few factors that matter to property values. Parts of the area sit on London Clay Formation, which carries a moderate to high shrink-swell risk. Homes with shallow foundations and mature trees nearby may be vulnerable to subsidence, something our valuers take into account when assessing a property. Sand and gravel deposits from the Bagshot Formation are also found in parts of the area, creating varied ground conditions that can affect foundation types and property condition.

Close to the Basingstoke Canal, some parts of GU24 also carry flood risk from both river and surface water sources. The canal runs through the area, and local watercourses can add to flooding during heavy rainfall. Areas with medium to high surface water flood risk may face higher insurance premiums, which our valuers will factor into the assessment. Knowing about these local environmental issues helps us arrive at a valuation that matches real market conditions.

The housing mix here is varied. Approximately 44% of properties in GU24 are detached homes, while 28% are semi-detached. Terraced properties make up 15% and flats account for around 12% of the stock. The age profile is mixed too, with 15% of homes pre-1919, 18% from the inter-war period, 35% from the post-war era, and 32% built since 1980. Each property type and age band brings different valuation considerations, and our surveyors understand how those factors play out in your specific location.