Help to Buy Valuation in Northlew

Redeeming a Help to Buy equity loan with Homes England calls for a specific valuation, not an ordinary mortgage valuation. The work has to be carried out by a RICS qualified surveyor, registered as a valuer, with no connection to any estate agent or mortgage broker. Homes England must be named on the report, and the valuation needs at least three comparable property sales to back up the figure. Our team includes MRICS and FRICS Chartered Surveyors who are registered valuers, so the report is prepared in the form Homes England asks for.

Northlew is not a one-type-property village. Historic cottages sit alongside more modern detached houses, so our valuers use local knowledge rather than relying on broad EX20 averages. Recent sales include Brook Cottage, a detached house that sold for £630,000, while semi-detached properties have sold for around £275,000. We also look at comparable sales in nearby places such as Ashbury, Shebbear, and Cookbury. Where the evidence allows, we select properties of a similar type, size, and age within a 2-mile radius.

The Help to Buy valuation runs for three months from the inspection date. If your redemption takes longer, we can arrange a one-month extension by way of a desktop valuation letter from the same RICS surveyor, as long as it is completed within two weeks of the original expiry date. The finished report also has to reach the government administrators within five working days of being issued. We deal with that submission process for you, so the timing is kept in order.

Homes England only accepts surveyors with MRICS or FRICS qualification for this type of work. AssocRICS surveyors do not satisfy the mandatory rules for Help to Buy equity loan redemption. When you instruct us, your valuation is handled by a Chartered Surveyor who is also registered on the RICS Valuer Registration Scheme.

• RICS qualified MRICS or FRICS
• Independent of estate agents
• Addressed to Homes England
• Minimum 3 comparables
• Valid for 3 months

Northlew has several historic properties, and valuing them properly takes specialist local awareness. The village Conservation Area was established on June 21, 1993, and is centred on the village square, running to the church, along Harpers Hill, to the school swimming pool, along Station Road, and along the north side of Crowden Road. A property inside this Conservation Area may carry extra considerations for value, extension potential, or alteration. The protected character of the area can affect both present valuation and future plans.

Grade II listed buildings in Northlew include Great Rutleigh, a C16 farmhouse with partly rendered rubble walls, and Honeychurch, a circa early C17 house with plastered cob walls and a thatched roof. Path House, The Old Rectory and Gates, Rectory Cottage, 1 and 2 The Arcade, Village Cross, a Wood Headstone near St Thomas of Canterbury Church, and South View are also listed. Cob and rubble wall construction is part of the local building character, but it also means our valuers consider issues such as damp penetration, structural movement, and the condition of traditional roofing materials.

For historic properties, listed building status is not a side note. It can influence maintenance costs, alteration options, and market value, all of which matter for Help to Buy redemption. Much of Northlew's housing stock is made up of period houses built between 1800 and 1911, many still with traditional features. Older homes do not always behave like modern ones in the market, so construction type matters. Our valuers understand plastered cob walls, rubble walls, and stone stacks, and reflect that knowledge in the valuation of a historic Northlew property.

Defects in older cob and rubble-walled properties need careful thought during valuation. Cob can last extremely well, but poor maintenance may leave it vulnerable to damp penetration, while structural movement can appear over time, especially where foundations are limited. Thatched roofs, where present, need close assessment too. So does corrugated iron roofing, sometimes added later as a replacement. We take these points into account when judging the condition and value of historic homes in Northlew.

New build activity in Northlew has been limited in recent years, although a notable planning application was submitted in March 2023 for up to 25 homes on land beside The Meadows, north of the village. The application, submitted by Mr M Dufty (app 4083/21/OPA), proposes 12 two-bedroom houses, seven three-bedroom houses, and six four-bedroom houses, with up to 30% affordable housing. Full approval has not yet been granted and construction has not begun, but the proposal shows continuing interest in housing growth locally.

The Meadows already provides a modern counterpoint to Northlew's older housing stock. Properties on the development have included detached bungalows listed at around £330,000 to £369,950. These homes bring different valuation points from period cottages, such as build quality, any remaining NHBC warranty cover, and current expectations around modern construction. Our valuers assess both traditional and newer properties across Northlew.

For a Help to Buy valuation on a newer Northlew property, we look at the original purchase price, improvements made since construction, and current village market conditions. The position of The Meadows, close to local amenities and the village centre, may support value. Traditional cottage or modern home, the report still has to meet Homes England's requirements.