Help to Buy Valuation in Thirlwall

Help to Buy equity loans were created to make it easier for first-time buyers to purchase new-build homes with a smaller deposit. If you used an equity loan when buying your property, there will come a point when you need to repay it or remortgage. At that stage, a formal valuation is required to work out what you owe. We carry this out through a RICS-registered valuer in line with Red Book valuation standards, so the figure used reflects current market conditions.

Across Thirlwall and the wider CA8 7 postcode area, Help to Buy homes have never been especially common, largely because this rural location has seen limited new-build development. With few major housing schemes close to Hadrian's Wall, only a small number of properties in Thirlwall are likely to have been bought through the scheme. Even so, if yours was, you will still need a compliant valuation for redemption. Our valuers work throughout Northumberland and are used to assessing homes in places where comparable sales data is thin on the ground.

The report has to be addressed to "Target HCA" (Homes and Communities Agency, now Homes England) and set out the valuer's professional opinion of the market value of the property. It is not a mortgage valuation or a survey. It is a specific legal requirement for Help to Buy redemption, and it must comply with strict RICS Red Book standards. We make sure the report includes the property address, the market value opinion and the valuer signature in the required form.

There are a few essentials. The valuation must be completed by a RICS-registered valuer, give a current market valuation of the unencumbered freehold or leasehold interest, state the full property address clearly, and be signed by the valuer. We check each of these points and prepare the report in the format Homes England expects.

• RICS-registered valuer
• Red Book compliant
• Addressed to Homes England
• Valid for 3 months

Valuing property in Thirlwall is not quite the same as valuing homes in more built-up parts of Northumberland. The village sits right beside Hadrian's Wall, a World Heritage Site, and that can bring planning limits and conservation issues that feed directly into value. Homes near the Wall or close to Thirlwall Castle, a Grade I listed building, may face extra restrictions that affect both marketability and price. Our valuers know how to account for those historical and archaeological sensitivities.

The geology around Thirlwall is made up of Carboniferous Limestone and sandstone, with patches of glacial till or boulder clay. Shrink-swell clay risk is usually low here, so properties are generally less exposed to subsidence linked to clay soil movement. Even so, we still look carefully for structural movement or foundation defects during the inspection. That matters in older stone-built homes, where traditional construction can sometimes conceal problems.

In Thirlwall, flood risk is more often linked to surface water runoff in lower ground or land near smaller watercourses such as the River Irthing. For the village itself, river flooding risk is generally low, but a property close to a watercourse may need a closer look during valuation. We take account of relevant flood factors where appropriate in our market value opinion. Drainage and any local history of flooding are part of that picture.

Agriculture and tourism shape much of the local economy in Thirlwall, especially tourism connected with Hadrian's Wall. Many people living here travel to larger centres such as Carlisle or Hexham for work, and that influences the buyer pool for homes in the area. We factor those demand drivers into our assessment, so the valuation reflects how the Thirlwall market actually behaves.

We often see a familiar set of defects in properties in Thirlwall and the surrounding Northumberland area. Dampness is high on that list, not least because much of the local housing stock is older. Rising damp can affect ground floor walls, especially in older homes with solid floors, while penetrating damp can show up where pointing has failed or roofing has deteriorated. Stone-built houses in this part of the county are particularly prone to damp getting in through mortar joints.

Timber problems also turn up regularly in Thirlwall homes. Traditional construction in this area makes extensive use of timber in floor joists, roof structures and windows, and those elements can suffer from rot or woodworm. During the valuation, we inspect all accessible timber we can see and record defects that may influence market value. If we find evidence of significant timber decay, we can advise on the need for specialist reports.

Roofing can be another weak point. Plenty of properties in this area still have traditional slate or stone tile roofs, and many are at or beyond their expected lifespan. We look for missing or broken slates, signs of patch repairs and any indication of deflection in the roof structure. We also note obvious issues with electrical and plumbing systems in older homes, although this is not a full survey.

Local stone buildings need careful upkeep, particularly where pointing and masonrywork are concerned. Mortar between the stone blocks can break down over time, which allows water in and can speed up stone decay. We note those maintenance issues as part of the valuation because they can affect present condition as well as the longer-term maintenance costs a buyer may weigh up.