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HELP TO BUY VALUATION SPECIALIST
Alan McNaughton Independent Property Consultant is a firm of residential property valuation specialists. In response to increasing demand we have developed a bespoke service to simplify the growing demand for Help to Buy Valuations.
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We are fully qualified to undertake Help to Buy Valuations.
THE VALUATION
A Help to Buy Valuation is required by a homeowner when they are contemplating redeeming the Help to Buy Loan either by moving home, paying a cash settlement or remortgaging.
The Help to Buy Loan redemption process is managed by Target Servicing Limited for the Homes and Communities Agency on behalf of H M Government.
We are unable to give specific advice as how to or when to make an application but there is lots of practical information here: https://www.myfirsthome.org.uk/
The requirements for the RICS Valuation are:
- The Valuer must be registered with the recognised qualification of RICS.
- The Valuer must be independent to an estate agent.
- The report must be on headed paper, signed by the RICS surveyor and addressed to Target HCA.
- The Valuer MUST provide at least 3 comparable properties and sale prices.
- The comparables provided must be like for like in terms of property type, size, and age and within a 2 mile radius to the property that is being inspected.
- The Valuer must not be related or known to you.
- The Valuer must inspect the interior of the property and provide a full valuation report.
- Valuations carried out for bank or mortgage purposes are not acceptable.
- A copy of the valuation report must be supplied to Target;
- The inspection date must be shown on the report.
- You submit this report with your application form.
This RICS valuation will only be valid for 3 months. If the transaction does not complete within this time you will need to provide another valuation. This further valuation must be a Desktop Valuation from the surveyor who originally inspected your property. It must be conducted and sent to Target within 2 weeks of the original valuation expiring and will then only be valid for a further 3 months.
The criteria for the Desktop Valuation are:
- The Valuer must refer back to the original report and confirm the updated report is a Desktop Valuation.
- The Valuer must be the original who prepared the first inspection. the valuer does not need to re- inspect the property, but they must make reference to this original report.
- The Valuer must provide at least 6 comparable properties and sale prices within the last year if the property has increased or decreased in value. If 6 are not available, the valuer must state this clearly. Comparable properties used must be a similar house type
- The report must have a new date on it and be signed by the Valuer.
- The report must be on headed paper and provided in a PDF format or non editable format.
Desktop valuations will be allowed after the original valuation has expired for up to a further three months . If the desktop report expires and a total of six months has been reached and you are yet to complete the transaction you will need to arrange to have your home re-inspected, this update report is prepared on the same basis as the original valuation. A new RICS valuation report provided.
Alan McNaughton Independent Property Consultant meet all aspects of these requirements
If it is considered that the valuation does not accurately reflect the market value, Target will contact you and may also wish to speak to your RICS valuation surveyor. This may result in a revised market valuation.
Our Process
- Book the valuation appointment by using the link above or telephone 08442 499 233 (Option 1) [Local call rate – this is not a premium rate number)
- We will then email you our terms of business – a digital document for signing on screen – please return these prior to the inspection date.
- Proceed to our payment page or ring the office to pay the invoice. Please use your invoice number when paying. To pay by BACS you will find our bank details on the invoice. Payment should reach us prior to the inspection date.
- The RICS qualified valuer will attend your home by arrangement. The appointment usually lasts 30 minutes. Photographs will be taken. This appointment is usually within 5 working days of the booking being made.
- Your fully compliant Help to Buy Valuation report will be emailed to you as a pdf within 3 working days of the inspection.
- Please revisit this site and leave a testimonial – you will then qualify for £25.00 discount on any further valuation or survey product from Alan McNaughton Independent Property Consultant.
Our Fees
Our Help to Buy fees explained:
RICS Valuation – £200.00 plus vat
Desktop Valuation – £75.00 plus vat
Updated RICS Valuation – £125.00 plus vat (includes the re-inspection)
Testimonials
Contact Us
Phone :
08442 499 233
(Option 1) [Local call rate – this is not a premium rate number)
Email :
hello@alanmcnaughton.co.uk
Alan McNaughton Independent Property Consultant is an RICS Regulated Firm.
The Managing Director is Alan McNaughton, Chartered Surveyor (0074825)
We operate a Complaints Handling Process.
All clients will be asked to sign and return our Terms of Business.
Video Part 1
Video Part 2