Help to Buy Valuation in Mattersey

Help to Buy was set up to help first-time buyers get on the property ladder, with an equity loan of up to 20% (or 40% in London) towards a new build purchase. If the loan is being repaid, the property is being sold, or the five-year milestone has been reached and early repayment penalties no longer apply, a formal valuation from a RICS registered valuer is needed. This is not a mortgage valuation or a home survey, but a specific Help to Buy valuation that has to follow strict Red Book standards.

Our valuers have plenty of experience with Help to Buy valuations across Nottinghamshire, including rural villages such as Mattersey and the surrounding area. Accuracy matters, because the figure we give affects how much needs to be repaid on the equity loan. The report is written in line with the RICS Valuation - Global Standards, so it fits the Help to Buy agency’s requirements and can be used for repayment, sale, or remortgage purposes.

A proper inspection sits at the centre of the process, backed by comparable sales in the local area and wider market research to fix the current market value. In Mattersey, our valuers look at recent sales in the village and nearby places such as Mattersey Thorpe and Ranskill, then weigh up the evidence to reach a sound figure. Recent sales that help inform the valuation include 22 Hall View (sold September 2024), 6 Priory Close (sold September 2024), 15 Priory Close (sold April 2024), and 3 Idle Court (sold April 2024).

Prices in Mattersey have shifted sharply, with property values approximately 72% down from the 2022 peak of £355,951. That kind of movement makes an up-to-date valuation especially important for anyone repaying an equity loan or selling a home.

• RICS Red Book compliant valuation
• Secure lending certificate
• FCA regulated valuers
• Fast turnaround available

Knowing when and how to repay a Help to Buy equity loan is important for anyone in the scheme. The loan can be repaid in full or in part at any time, but the main trigger points are usually when the property is sold, the five-year anniversary of the purchase arrives, or a remortgage is used to clear the equity loan. The repayment figure is based on the current market value at the time of repayment, not the original purchase price.

In Mattersey, where property values have changed a good deal in recent years, an accurate valuation matters even more. Homes in the village have sold for different amounts in recent months, with some fetching more than others depending on location, condition, and type. For instance, properties on Main Street have averaged around £213,250, while homes in newer developments such as Hall View and Priory Close have sold for lower amounts around the £100,000 mark. Our valuers take all of that into account when setting the current market value.

The report we provide gives the property’s current market value, which the Help to Buy agency uses to work out the repayment amount. It is also useful if the home is being sold, because the estate agent will use it to help set the asking price. A reliable valuation can stop problems later on, including the risk of ending up in negative equity when the time comes to repay the loan. We suggest getting the valuation as soon as the decision to repay has been made, so there is time to organise finances.

• Repay your equity loan in full
• Make a partial repayment
• Sell your property and settle the loan
• Remortgage and pay off the loan