Help to Buy Valuation in EX39

A Help to Buy valuation is a specific type of property assessment required by the government-backed equity loan scheme. Unlike a standard mortgage valuation, this report must be conducted by a RICS (Royal Institution of Chartered Surveyors) registered valuer who will produce a Red Book valuation. This is a legally recognised assessment that complies with the strict regulatory requirements of the Help to Buy scheme. The Red Book refers to the RICS Valuation - Global Standards, which set out the professional standards and methodologies that must be followed for all valuations intended for regulatory purposes.

The valuation determines the current market value of your property, which directly calculates the amount of equity loan you must repay. For properties in the EX39 area, where average prices have seen some fluctuation recently, obtaining an accurate and up-to-date valuation is particularly important to ensure you are repaying the correct amount. The equity loan is calculated as a percentage of the property value, so any discrepancy in the valuation can significantly affect your repayment figure. Our valuers thoroughly research recent comparable sales in your specific area of EX39 to ensure the valuation reflects true market conditions.

Our surveyors serve the entire EX39 postcode, including Bideford, Barnstaple, Northam, Appledore, and the coastal villages around the Torridge estuary. We combine local market knowledge with rigorous valuation methodology to provide you with a report that meets all scheme requirements. Each valuation includes a detailed inspection of the property, analysis of recent sales data for similar properties in the area, and a comprehensive report that meets RICS Red Book standards.

• RICS Red Book compliant valuation
• Accepted by all Help to Buy administrators
• Local surveyor with EX39 expertise
• Clear, detailed report

The EX39 postcode covers a beautiful stretch of North Devon, encompassing the towns of Bideford and Barnstaple along with numerous coastal and rural villages. The area has experienced some softening in property prices over the past year, with values around 3% lower than the previous year and approximately 10% below the 2022 peak. This context is important for Help to Buy valuations, as the valuer must carefully analyse current market conditions. The North Devon housing market has seen a notable decrease in transaction volumes, with approximately 550 residential property sales in EX39 over the last year, representing a 23% decrease compared to the previous year.

Recent data shows that detached properties dominate the sales market in EX39, commanding the highest average prices at around £417,773. Semi-detached properties average £272,218, while terraced houses typically sell for around £228,297. Flats in the area average approximately £172,985, making them the most affordable option in the postcode. Understanding these property type variations is crucial for an accurate Help to Buy valuation, as the valuer will compare your property against recently sold properties of the same type in your specific area.

Whether your property is a modern estate house in Barnstaple, a period property in Bideford, or a coastal cottage in one of the surrounding villages, our local surveyors have the knowledge to provide an accurate and compliant valuation. We are familiar with the various housing developments throughout the area and understand how local factors such as proximity to the coast, local school catchment areas, and transport links can influence property values. Our valuers regularly assess properties across all parts of the EX39 postcode, giving us firsthand insight into the nuances of different neighbourhoods and property types.

When you purchased your property through the Help to Buy equity loan scheme, the government provided a loan to help you get onto the property ladder. This loan is typically worth up to 20% of the property value (or 40% in London), and it is secured against your property. The amount you repay is calculated based on the current market value of your property at the time of redemption, not the original purchase price.

In the EX39 area, where property prices have experienced a 3% decrease over the past year, obtaining an accurate valuation is particularly important. If your property has decreased in value since purchase, you will still need to repay the original equity loan amount based on the current market valuation. The government guarantees that you will not owe more than the property value, but equally, you cannot benefit from any increase in value without repaying the equity loan first. This means understanding your property's current market position is essential for planning your finances.

Our RICS registered valuers understand these complexities and will provide you with a clear, comprehensive report that details how we arrived at the valuation figure. We will explain the comparable sales evidence used, the methodology applied, and any assumptions made in the assessment. This transparency ensures you have complete confidence in the valuation figure and can plan your next steps accordingly, whether that involves redeeming your loan, remortgaging, or selling the property.