Help to Buy Valuation in TS15 (Yarm)

A Help to Buy valuation is an independent check of your property’s current market value, needed if you want to repay part or all of your equity loan, remortgage with a new lender, or sell your home. It is not the same as a standard mortgage valuation, because it has to be carried out by a RICS-registered surveyor and follow the rules in the RICS Red Book (Valuation Standards). Our valuers carry out detailed inspections, measuring floor areas, checking construction type, and recording any visible defects or alterations that could affect value.

The government scheme offered equity loans of up to 20% (or 40% in London) of the property value for new-build homes bought under the Help to Buy scheme. When the time comes to repay, the amount due is worked out as a percentage of your property’s current market value, not the price you originally paid. That is why an accurate RICS valuation matters so much for your repayment figure. Many homeowners are caught out when the repayment ends up higher or lower than the original loan amount, simply because values have moved in their area.

Several new build developments in the TS15 area were completed under Help to Buy, with homes from developers such as Bede Homes, Banks Homes, and Duchy Homes. If you bought through Help to Buy on one of these schemes, our surveyors can provide the valuation needed for equity loan redemption. We know the build methods used by these developers, and we can choose suitable comparable properties for the report.

• Repaying your equity loan
• Remortgaging to a new lender
• Selling your Help to Buy property
• Staircasing (buying back more equity)

Centred on the market town of Yarm, the TS15 postcode area brings its own valuation issues because it mixes historic property with newer housing. Yarm town centre has a number of listed buildings along the High Street, including the Grade II* listed properties at numbers 10 and 12, and that can shape the way nearby homes are valued. Our surveyors understand how conservation area restrictions and listed building status affect prices here, so your valuation reflects those factors properly.

Recent market activity has shifted quite a bit, with home.co.uk recording 194 property sales in the past 12 months, 87 fewer than the year before. That 44.85% fall in sales volume means our valuers need to be especially selective when choosing comparables, so they genuinely reflect current market conditions. We look at the newest sales first, and we take reduced transaction levels into account when judging confidence in the figure.

New build schemes in TS15, including Beck View on Ash Drive (TS15 9BZ), The Cornfields, and Knowles Farm in Kirklevington, use modern construction methods that can differ from older homes. Our valuers are used to assessing these properties and know how builder incentives, such as deposit contributions and included extras, can influence both the original purchase price and the current market value. With that local knowledge, the valuation should match your property’s true worth.

The amount you repay on your Help to Buy equity loan is based on a percentage of your property’s current market value. For instance, if you had a 20% equity loan on a property bought for £300,000, the government would have lent you £60,000. If that same property is now worth £350,000, your repayment would be £70,000, that is 20% of the current value, even though the original loan was £60,000. That is why an accurate RICS valuation matters so much when you’re planning your finances.

Property values in TS15 have moved moderately in recent years, with home.co.uk showing a 2% decrease over the last 12 months, although values are still 5% above the 2023 peak of £333,408. As a result, your equity loan percentage could produce a repayment figure that is very different from the original loan amount, which makes an accurate RICS valuation essential. With 194 sales in the past year against 281 the year before, the market is changing, and your valuation will reflect that.

If you are staircasing, meaning you are buying back more of your equity loan, you can choose to repay either 10% or 25% of your property’s current value at each transaction. The valuation tells you exactly what that will cost. Our surveyors provide clear reports that show where you stand. We can also talk you through the process and explain the factors Homes England uses when working out the repayment amount.

• Check your current equity loan balance
• Arrange a RICS valuation
• Receive your valuation report
• Contact Homes England to arrange repayment

TS15 has seen a fair amount of new build activity in recent years, and some of those developments may include Help to Buy homes. Beck View on Ash Drive in Yarm (TS15 9BZ) offers 5-bedroom detached properties from Bede Homes, priced from £580,000 to £760,000. These homes come with incentives such as over £19,000 of extras and a 5% deposit paid contribution. The development looks out over Saltergill Beck and has countryside views, both of which can support property values.

The Cornfields development by Banks Homes in Yarm offers 4 and 5-bedroom detached properties with similar incentives, including £3,796 of extras included and a 5% deposit contribution. Homes such as the Elvet (4-bedroom), Redworth, and Amberswood (5-bedroom) have been popular with families. Because the development is close to Yarm town centre, it appeals to buyers who want quick access to local amenities as well as modern living.

Knowles Farm in Kirklevington has luxury 5-bedroom detached homes with guide prices around £895,000, offering 3,900 sq ft over three floors and bespoke finish options. Duchy Homes Developments also have a number of properties in the area, including The Buckingham (4-bedroom), The Hartwell, and The Wavendon Show Home. If you bought on any of these developments through the Help to Buy scheme, our surveyors know the local market well and can provide an accurate valuation for your equity loan requirements.

We know the design and construction methods used by these developers, which helps us choose suitable comparables. A lot of these properties were sold with sizeable builder incentives, and that can affect both the original purchase price and the current market valuation. Our valuers know how to factor those points in when deciding your property’s current market value.

Yarm and the surrounding villages have plenty of history, and the listed buildings help give the area its character. The Church of St Peter in Hilton, Fir Tree Farmhouse, and Maltby Grange are all Grade II listed properties that show that heritage clearly. Along Yarm High Street, the Grade II* listed numbers 10 and 12 are among the oldest buildings in the area. If your property is listed or sits within a conservation area, that can have a major effect on its valuation and on the points our surveyors need to consider.

The historic centre of Yarm, with its cobbled streets and traditional architecture, is a draw for buyers looking for character homes. Even so, listed building rules can limit alterations and improvements, which may change values compared with similar homes that are not listed. Our valuers understand those differences and build conservation area status and listed building status into every valuation we produce for TS15 properties.

Hilton, Maltby, and Kirklevington each have their own feel and their own property mix, from traditional farmhouses to modern executive homes. That variety means comparable property selection is especially important in the TS15 area. Our surveyors know the local market well and can pinpoint the most suitable comparables for your property type and location.