Help to Buy Valuation in BN16

A Help to Buy valuation involves a physical inspection of your property by a RICS-regulated surveyor who assesses the property's condition and determines its current open market value. The surveyor researches recent comparable sales in the local area, typically within two miles and from the last 90 days, to support the valuation figure. The report is produced in RICS Red Book format and addressed specifically to Target HCA for your equity loan redemption. Our surveyors will also note any significant defects that might affect the property's value, which is particularly relevant for newer properties where snagging issues may be present.

Help to Buy valuations in the BN16 area typically range from £250 to £450, depending on the size and complexity of your property. Larger detached homes with unique features may incur higher fees, while smaller flats and terraced properties are generally at the lower end of the scale. The national average falls between £250 and £500. For properties in the new build developments like The Hedgerows, Willow Gardens or Penfold Grange, the valuation process is typically straightforward, resulting in fees at the lower end of the range.

A Help to Buy valuation is valid for three months from the date of the property inspection. If your redemption or remortgage is not completed within this period, you will need to arrange a new valuation to meet the Equity Loan Administrator's requirements. We recommend timing your valuation to allow sufficient time for the redemption process, which can take several weeks once the valuation has been submitted to Target HCA.

No, a Help to Buy valuation is a specific type of valuation that must meet RICS Red Book standards and be addressed to Target HCA. A standard Level 2 or Level 3 building survey, while valuable for understanding your property's condition, cannot be used for equity loan redemption purposes. If you have previously had a building survey, you would still need to commission a separate Help to Buy valuation. However, if you are having both surveys done, we can often arrange for the same surveyor to carry out both inspections during a single property visit, which can be more convenient.

If your property has decreased in value, you may be required to pay an early repayment charge on a proportion of your equity loan. The Help to Buy scheme allows you to repay a minimum of 10% of the property value at any time. Our valuation will provide an accurate current market value to help you understand your position. In the BN16 area, property values have generally shown positive growth, with a 2.5% increase over the past 12 months, which may work in your favour when redeeming your equity loan. However, individual properties can vary, and the valuation will provide the definitive figure needed for your redemption calculation.

While it is not strictly necessary for you to be present, we do recommend that someone is available to grant access to all areas of the property including the loft space if accessible, and any outbuildings. The surveyor will need to inspect all principal rooms and the exterior of the property. If you cannot be present, please ensure that a key holder or trusted person is available, and that any relevant documentation such as previous survey reports, planning permissions, or building regulation approvals are left accessible for the surveyor to review.

Several local factors can affect your property's value in BN16. Proximity to the River Arun flood plain can impact properties in western Angmering, while coastal erosion risks affect areas around Kingston Gorse and East Preston. The quality of local schools, particularly those in the Angmering and East Preston catchment areas, can also influence property values. Conservation area status in Angmering village and East Preston village centre can both positively and negatively affect values, depending on the specific restrictions and the property type. Our surveyors are familiar with all these local factors and take them into account when determining your property's market value.

We aim to deliver your completed RICS Red Book valuation report within 3-5 working days of the property inspection. This timeframe allows our surveyors to thoroughly research comparable sales, analyse the local market data, and prepare a comprehensive report that meets all Target HCA requirements. For urgent cases, we offer an expedited service where possible - please speak to our team when booking if you require your report sooner.