Help to Buy Valuation in Childrey

The Help to Buy equity loan scheme allowed buyers to purchase a new build property with just a 5% deposit, with the government providing an equity loan of up to 20% (or 40% in London). In Childrey and the surrounding Vale of White Horse area, this enabled many buyers to get onto the property ladder in what is traditionally an expensive Oxfordshire housing market. The scheme was particularly valuable in villages like Childrey where period properties and modern developments both command premium prices due to the area's attractive rural character and proximity to Oxford for commuters.

When you come to remortgage after the initial five-year interest-free period, sell your property, or make a staircasing payment to reduce your equity loan, you require a formal valuation that meets strict RICS Red Book standards. The valuation must be conducted by a RICS regulated surveyor who will assess your property's current market value based on comparable sales evidence, the condition of the property, and local market conditions. In Childrey, where property values have experienced a 16% decline over the past year from the 2017 peak, obtaining an accurate valuation is particularly important as it directly affects how much equity you will need to repay to the government.

Unlike a basic mortgage valuation which focuses on whether the property provides adequate security for a lender, a Help to Buy redemption valuation provides a comprehensive assessment of your property's open market value. This report is what the Help to Buy equity loan administrator requires to calculate your repayment figure, and it is also what potential buyers' mortgage lenders will need if you are selling your home. Our valuers will ensure the report meets all the specific requirements of the administrator, including the correct format and terminology.

You will need a Help to Buy valuation in several scenarios: when remortgaging after the initial interest-free period ends, when selling your Help to Buy property on the open market, when making a staircasing payment to reduce your equity loan percentage, or when requesting a porting valuation to move to a new property while retaining your equity loan. Each of these scenarios requires the same RICS Red Book compliant valuation report.

• Remortgaging after the initial interest-free period
• Selling your Help to Buy property
• Making a staircasing payment to reduce your equity loan
• Requesting a porting valuation to move to a new property

When you repay your Help to Buy equity loan, you pay back a percentage of your property's current value, not the original loan amount. This means if your Childrey property has increased in value, your repayment will be higher. However, if property values have decreased, your repayment could be lower than expected. Recent data shows that Childrey property values are approximately 19% below their 2017 peak, which could work in your favour when calculating your repayment figure. This is an important consideration for homeowners who bought during the peak period.

The calculation is straightforward: if you have a 20% equity loan and your property is now worth £500,000, you would repay £100,000 (20% of the current value). However, you also have the option to make staircase payments to reduce your equity loan percentage before the full redemption, which can be strategically beneficial depending on your financial circumstances and the local market outlook. Some homeowners choose to staircase in stages to reduce their exposure as property values change.

Our valuers understand the nuances of the Childrey market and will provide a valuation that reflects true current market conditions. This ensures you and the Help to Buy administrator have an accurate figure for your repayment, whether you are remortgaging, selling, or making a staircasing payment. We will explain the valuation findings clearly and answer any questions you have about how the figure was reached.

It is worth noting that if you are selling your Childrey property, the buyer will also need a mortgage valuation that satisfies their lender. Our Help to Buy valuation report can help facilitate this process as it provides a comprehensive assessment of the property's value that lenders can rely upon. The recent 16% decline in property values means sellers may need to be realistic about their asking prices, and our valuation provides the accurate benchmark needed for successful negotiations.