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Help to Buy Valuations
When do I need a valuation?If you have used the Help to Buyscheme and are now in a positionto remortgage your home andstart repaying your loan, thenyou need to get a RICS regulatedvaluation – Stanifords are RICSregulated Independent CharteredSurveyors and Registered Valuers.
An RICS valuation is needed in orderto work out the amount of depositwhich should be repaid. Stanifordscarry out Help to Buy valuations thatfollow the exact requirements of thescheme and to inspect the insideand outside of the property.
It is important to remember that thevaluation is only valid for 3 months.After 3 months, there is a two-weekopportunity for the owner to requestan updated “desktop” valuationwhich extends the valuation for a further 3 months. After those 2 weeks, the Scheme requires a re-inspection.
Dear Homeowner,
We hope you are enjoying your new build home and believe this document will be helpful in assisting you, should you require a valuation for the Help to Buy Scheme.
You MUST instruct an RICS regulated independent chartered valuer to carry out the valuation:
• The chartered valuer must be registered with the RICS.
• They cannot be related to you.
• The chartered valuer must provide at the least ‘3 comparable properties and sale prices’.
• Those properties must be likefor-like, with regards to property type, size, and age, and
must be within a 2-mile radius of your own property.
• Valuations carried out for bank or mortgage purposes will NOT be accepted.
• The chartered valuer must inspect the property interior and provide a full valuation report [not a survey].
• The Valuation Report needs to be presented on headed paper, signed by a RICS surveyor, dated, and addressed to the appropriate association.
What criteria must be met?
At Stanifords, we meet all the above criteria and carry out regular Help to Buy valuations at an affordable price – If you would like to learn more or book in your own valuation, please get in touch today on T: 01482 866304/631133 E: [email protected] visit Stanifords.com
Homes England, formerly Homes and Communities Agency is pleased to announce that they have agreed to partner with Target Services Limited (Target), to take over the administrative duties of all loans that were previously administrated by Housing Options Plus (HOP), part of Metropolitan Housing Trust.
Target is a credit solutions company which acquires and administers loans from other lending institutions.
Target’s aim is to provide customers with the highest quality service anddeliver the ongoing support theyneed to manage their loans.
Target Servicing Limited is part of the Target Group, which is one of the longest standing servicing and software providers in the UK, with over 38 years’ experience. Over 50 major financial institutions across the UK rely on Target to manage their lending, investment and insurance portfolios.
Transition to Target
T: 01482 866304/631133E: [email protected]: www.stanifords.com
