Help to Buy Valuation in Cottam

A Help to Buy valuation is a specific type of property valuation required by the Homes and Communities Agency when you want to sell your Help to Buy property or remortgage. It must be carried out by a RICS registered valuer and conform to the RICS Red Book standards. This valuation determines the current market value of your property, which is used to calculate the equity loan repayment amount. In Cottam and the wider East Riding area, our valuers are familiar with the local market conditions and can provide an accurate assessment that meets all HCA requirements.

Our Help to Buy valuations in Cottam and the East Riding of Yorkshire start from £300. The exact cost depends on factors such as the size and type of your property. We offer competitive pricing and can provide you with a quote before proceeding. For example, a standard three-bedroom terraced property in Cottam would be at the lower end of the pricing scale, while larger detached properties would be priced accordingly.

Once the inspection is complete, we typically deliver your official valuation report within 3-5 working days. We understand that timing is important, especially if you are in the process of selling your property, so we strive to provide fast turnaround times. If you need your report urgently, please let us know when booking and we will do our best to accommodate your timeline.

Yes, if you have a Help to Buy equity loan and want to remortgage your property, you will need a formal valuation to either port your loan to a new mortgage or to regularise your borrowing. The lender will require a RICS Red Book compliant valuation. This is different from a standard mortgage valuation and specifically relates to the equity loan element of your Help to Buy arrangement.

If your property value has decreased since you purchased it through Help to Buy, you may be in negative equity. This is a situation where the property is worth less than the mortgage plus the equity loan. Our valuers will provide an accurate current market valuation, and you should seek advice from the Homes and Communities Agency or a financial advisor about your options. In the current Cottam market, with prices around 3% below the 2023 peak, this is a situation some homeowners may be facing, particularly if they purchased near the peak of the market.

Yes, you can still sell your Help to Buy property even if it is in negative equity, but you will need to repay the equity loan amount. If the sale proceeds are not enough to cover the loan, you should contact the Homes and Communities Agency to discuss your options. Our valuation will give you a clear picture of your financial position. It is important to get an accurate valuation early in the process so you can plan your finances accordingly and avoid any surprises repaying the equity loan.

Your valuation report will include the current market value of your property, details of comparable sales used to determine the value, photographs of the property, and a detailed breakdown of the valuation methodology. The report will be formatted in accordance with RICS Red Book standards and will be accepted by the Homes and Communities Agency for your Help to Buy transaction. We will also provide you with guidance on what the valuation means for your specific situation.

If you disagree with your valuation, you can request a review from our team. We will look at the evidence used and provide a detailed explanation of how we arrived at the figure. If you still have concerns, you can instruct a different RICS valuer for a second opinion, though this would be at your own cost. We always strive to provide accurate valuations based on current market evidence in the Cottam area.