Help to Buy Valuation Sheraton with Hulam

For buyers using Help to Buy: Equity Loan, the scheme made it possible to purchase a new build property with a 5% deposit, alongside an equity loan from the government of up to 20% of the property value, or 40% in London. Once the initial loan period ends, usually after five years, or when the property is being sold, a valuation is needed to work out what is due on the equity loan. That valuation has to be prepared by a RICS-registered valuer and it must satisfy the criteria set by Homes England.

In Sheraton with Hulam, our valuers know the local market well and can give a reliable view of what a home is worth. Across the village and wider civil parish, there is a broad spread of housing, from traditional stone cottages dating back to the mid-18th century through to more recent developments. We also take account of local influences on value, including listed buildings and the distinctive geology of the Magnesian limestone plateau.

We carry out a physical inspection to arrive at the current market value of the property. Our surveyor looks at the building's condition, size, layout and any improvements that have been made, then compares it with similar homes recently sold in the local area. The figure we report is the one Homes England relies on for calculating the equity loan repayment.

Help to Buy valuations are not the same as a standard mortgage valuation, because they have to meet Homes England requirements. As a result, the report includes extra detail on the property's condition and on anything that could affect market value. Our valuers know exactly what Homes England expects, which helps the report go through without delay.

• Physical property inspection
• Market value assessment
• Comparable sales analysis
• Compliant RICS valuation report

Sheraton with Hulam is a civil parish in County Durham on the Magnesian limestone plateau of East Durham. The village of Sheraton has a population of approximately 118 residents according to the 2011 census, which gives it a small, close-knit feel. Its heritage assets include Sheraton Hall and Sheraton Hall Cottage, both Grade II listed buildings dating from the mid-18th century. The medieval settlement and open field system in Sheraton is also designated as a Scheduled Monument, which says a lot about the area's historic importance.

There has been recent new build activity nearby, including developments offering homes such as The Chandler at around £208,995 to £211,995. Specific data on housing stock types in Sheraton with Hulam is limited, but the mix of newer schemes and older homes means our valuers have to weigh up quite different property types when assessing market value. The local economy also includes the Sheraton and Hulam Solar Farms, an important piece of renewable energy infrastructure in the region.

Geology is one local factor that should not be overlooked here. The Magnesian limestone beneath the area is partly covered by glacial clays, and that can create a shrink-swell risk. In practical terms, this sort of ground movement may affect foundations, especially where foundations are shallow or trees are close by. During inspection, our valuers look for signs of structural movement or foundation issues because both can have a marked effect on value.

Historic homes, newer builds, and those particular geological conditions all combine to make Help to Buy valuations in Sheraton with Hulam highly property-specific. We take time to look at the individual features of each home and the way the local area may have influenced its value since purchase. That detail matters, because the aim is to reflect the true market value of the property, not a rough estimate.

Properties in the Sheraton with Hulam area can show a few recurring issues, and our valuers are trained to spot them during inspection. The glacial clay soils lying over the Magnesian limestone can lead to foundation movement, especially in homes with shallow foundations or in places where moisture levels have changed because of nearby trees or drainage problems. That shrink-swell behaviour in clay soils is a recognised issue across much of County Durham, and it can result in cracking or structural movement that affects value.

With older homes in the parish, particularly those from the 18th and 19th centuries, we also check for signs of listed building alterations that may not have had the right consent. Sheraton Hall and Sheraton Hall Cottage are Grade II listed, and changes to buildings like these can influence market value and saleability. Even where a property is not listed, older homes in the parish can contain historic features that need careful thought during valuation.

Newer homes call for a slightly different approach. Properties in developments featuring The Chandler, for example, may benefit from current building regulations and warranties, but our valuers still look closely at build quality and at any issues that have emerged since the original construction. The North East has had plenty of new build activity in recent years, so knowing the exact development a property sits within is important for getting the valuation right.