Help to Buy Valuation in Nonington

Help to Buy did a lot for first-time buyers in Nonington and across Kent, but when the time comes to repay all or part of the equity loan, staircase to increase your ownership, or sell, a formal RICS valuation is needed. That is not a casual market view, it is a legal requirement under the RICS Valuation Global Standards and the RICS UK Valuation Information Papers. The scheme ran from 2013 until 2023, and offered equity loans of up to 20% (or 40% in London) so buyers could purchase new-build homes.

Nonington’s housing market has shifted quite a bit, so an accurate Help to Buy valuation matters. The village sits in the Dover district of Kent and had a population of approximately 920 residents across 320 households according to the 2021 Census. Housing here is mainly detached and semi-detached, while 86.3% of homes are whole houses or bungalows, which reflects its strongly residential feel. In practice, that means many of the properties are larger family homes, and that affects both value and the level of detail needed in the valuation.

Our Help to Buy valuations in Nonington meet all Homes England requirements. They have to be prepared by a RICS-qualified surveyor who is independent of any estate agent involved in the transaction. We carry out a physical inspection of the interior, analyse at least three comparable properties from the local area, and address the report to Homes England on company letterhead. The valuer must be registered with RICS and hold MRICS or FRICS status, so the professional standard stays intact throughout.

What the valuation sets is the amount you repay based on the property’s current market value on the day of inspection, not the price you originally paid. Nonington has seen significant price adjustments, with values falling considerably from their 2022 peak, so that current figure is especially important for equity loan calculations. Our surveyors understand those local shifts and include clear market commentary in the report to show how we reached the valuation figure.

• RICS Red Book compliant valuation
• Independent RICS-registered surveyor requirement
• Physical interior property inspection
• Minimum three local comparable properties
• Three-month validity with extension options available
• Report addressed to Homes England

Nonington’s history is relevant to valuation work too. The parish was divided in 1951, when Aylesham became a separate parish, and Snowdown Colliery, a major coal mine near Nonington, operated from 1912 until 1987 as part of the East Kent Coalfield. Even though Nonington is not a former mining village, the surrounding area can still carry the legacy of that activity, so our surveyors take it into account. We review available coal mining reports and ground stability information as part of our due diligence.

Building materials around Nonington show plenty of Kentish character. You will often see timber-framed houses with rendered finishes, red brick in different bonds, and flint. Holt Street Farmhouse, a Grade II listed property, is a good example, with red brick in irregular bond, the upper storey rebuilt in brown brick in Flemish bond, and tile-hanging on the left return elevation. Frogham Farmhouse, dating from the C15, shows traditional timber-framing with render and red brick and flint cladding. Those older homes need careful valuation because of their age and construction methods.

Old Malthouse Green, the new build development by Roma Homes on Easole Street, brings a more modern side to the village. It offers individually designed 3, 4, and 5 bedroom homes, along with affordable First Home plots, and prices range from £695,000 to over £1,100,000. Valuation here can look rather different from older period homes in the village. The scheme received planning permission under application DOV/21/01615 for 27 dwellings and sits next to a conservation area and listed buildings.

Some of the issues we see in Nonington are typical of the South East. Much of the parish sits on white chalk bedrock, with areas of brickearth, a clay-rich soil, and that combination can create shrink-swell behaviour that leads to subsidence or heave, particularly where large trees sit close to buildings with shallow foundations. Our valuers assess those ground conditions and the likely effect on value. We also look at flood risk, although Nonington is approximately seven miles from the coast, and river and surface water flood risk should be checked on GOV.UK flood risk maps for each individual property.

• Historical mining activity consideration
• Period property construction methods
• New build development comparables
• Geological subsidence risk assessment
• Flood risk evaluation
• Conservation area restrictions