Help to Buy Valuation in Levisham

The Help to Buy equity loan scheme was set up to help homebuyers buy new-build homes with a smaller deposit. In Levisham, and across the North York Moors area, the government provided an equity loan, usually worth 20% of the purchase price, or 40% in London. In Yorkshire and the Humber, the Help to Buy price cap sat at £228,100, while the national average purchase price for Help to Buy homes between April 2013 and March 2017 was about £236,041. Because these homes were usually bought as new builds, knowing the current market value matters when you are planning to repay the loan or staircase it.

Repaying a Help to Buy equity loan is worked out against the current market value, not the price paid at the start. A property can move a long way in value after purchase, so a current independent valuation is needed. In Levisham, where the housing market has seen considerable activity in recent years, getting that figure right matters for financial planning. The smallest repayment allowed is 10% of the market value, so the valuation has a direct effect on the amount needed for staircasing.

Our RICS-registered valuers know the Levisham market well. The village and the wider parish are largely made up of older homes built from local sandstone and limestone, and many listed buildings need specialist attention during valuation. Property values reflect that character, with detached homes often reaching around the £430,000 mark. We take in the local picture too, from the North York Moors National Park to historic buildings and the area's flood risk management work.

• RICS Red Book compliant valuations
• Accepted by Homes England for equity loan repayments
• Suitable for staircasing, remortgaging, or sale
• Local surveyor with Levisham area expertise

Levisham has a distinctive valuation landscape within the North York Moors. The village and surrounding parish include nine listed buildings on the National Heritage List for England, from old farmhouses to the redundant Church of St Mary, which is Grade II*. Properties in the Levisham Conservation Area often need extra consideration, as preservation rules and planning restrictions can affect market value and buyer appeal. Skelton's Tower, a ruined shooting lodge and also Grade II listed, adds to the area's historic feel.

Local geology matters too. Levisham sits on Middle Jurassic fluvio-deltaic rocks and Upper Jurassic marine deposits, with the landscape shaped by Quaternary glacial activity. Peat deposits are present in parts of the Levisham Estate, and the "Slowing the Flow" project, involving the North York Moors National Park Authority, has dealt with flood risk in tributaries feeding into Pickering Beck. These factors matter most for homes near water courses or in areas touched by flood management work.

Many properties here still use traditional methods of construction. Older buildings are often made from local sandstone and limestone, with slate or pantile roofs on top. The Station House is a good example, built in sandstone with a slate roof. We have also researched a farmhouse and attached farm buildings with sandstone walls and pantile roofs. Those materials give character, but they also call for specialist knowledge during valuation, especially where upkeep and the cost of preserving historic fabric are concerned.

The area's history includes industrial activity too, such as the ironstone mine that operated from 1863 to 1874, and remains may still lie beneath some properties. That does not directly affect most residential homes, but it does add to Levisham's character, and it is part of the local knowledge our surveyors bring to each valuation. The North York Moors National Park Authority owns the Levisham Estate and works with partners including Forestry England, Yorkshire Wildlife Trust, and the North Yorkshire Moors Railway on conservation and community projects.

Property values in Levisham and the surrounding North York Moors villages have moved in interesting ways in recent years. Historical sold prices in Levisham over the last year were 72% up on the previous year, though the same data is also reported as 39% down on the 2015 peak of £565,000. homedata.co.uk reports an average sold price of £430,000 in Levisham over the last 12 months. That variation is why an independent RICS valuation is so important for Help to Buy equity loans.

The tourism economy around the North Yorkshire Moors Railway has a clear effect on the Levisham property market. Heritage steam trains run through the village, bringing visitors all year and supporting the local economy. That tourism, along with National Park status, helps maintain demand for homes here, although Conservation Area restrictions can limit what can be developed.

Before booking a Help to Buy valuation, it helps to have a few things ready. Proof of ownership, details of any improvements or alterations since purchase, and information about the Help to Buy equity loan, including the original loan amount, percentage, and Homes England reference if available, are all useful. The surveyor will also need access to all rooms, the loft space if it can be reached, and any outbuildings. A bit of preparation can help the inspection run smoothly and get the report back promptly.