Help to Buy Valuation in Lathom

A Help to Buy valuation is a specific type of property assessment required by the government-backed Help to Buy equity loan scheme. Unlike a standard mortgage valuation, this must be conducted by a RICS-registered valuer following the Red Book (RICS Valuation - Global Standards). The valuation serves two main purposes: it determines the current market value of your property when you want to redeem your equity loan (repay the government loan in full) or staircase (buy additional shares in your property). Our valuers ensure every aspect of the assessment meets the strict requirements set out by Homes England.

The scheme was introduced to help first-time buyers purchase new-build properties with a government equity loan of up to 20% (or 40% in London). Since the scheme closed to new applicants in December 2023, existing homeowners with Help to Buy properties now face important deadlines for redemption or must transition to other mortgage arrangements. The valuation must be independent, meaning your surveyor cannot be connected to any estate agency or Help to Buy agent involved in your original purchase. We maintain full independence from all parties to ensure our valuations are unbiased and compliant with RICS regulations.

In Lathom, where property values have shown both growth and correction in different sub-markets, getting an accurate Help to Buy valuation is essential. Recent data shows that Lathom Park properties have experienced significant price adjustments, while the wider Lathom area has seen more stable pricing around the £295,000 mark. Our valuers understand these local market dynamics and apply the appropriate methodology for your specific location and property type. We research comparable sales across the village and surrounding West Lancashire area to ensure your valuation reflects true market conditions.

Lathom has seen substantial new housing development in recent years, making it an important area for Help to Buy valuations in West Lancashire. Two major developments are currently active in the village. Latune Gardens, located on Firswood Road (WN8 8UT), is being developed by Wain Homes and offers a range of 3 and 4-bedroom houses with prices starting from around £240,000 up to £355,000. This development received planning permission for 130 dwellings including detached houses, semi-detached properties, and flats. Our valuers have extensive experience valuing properties on this development and understand the specific factors that affect their market value.

Lathom Pastures, developed by Bellway on Neverstitch Road (WN8 8FD), represents another significant new build development in the area. Prices for homes here range from £284,995 to £422,995, and Bellway has recently received permission to extend the development with a further 200 homes. While these developments were eligible for Help to Buy when launched, the scheme has now closed, and existing homeowners with Help to Buy properties on these developments will need RICS valuations for any future redemption or staircasing. We can provide valuations for properties on all recent developments in the Lathom area.

The village also includes Lathom Park, which is a designated Conservation Area with 49 listed buildings in the parish. Properties in conservation areas or those with historical significance may require additional consideration during the valuation process, as certain restrictions or features can affect market value. Our valuers are experienced in assessing properties across all parts of Lathom, from modern new builds to character properties in the conservation area. We understand how conservation area status and listed building status can impact both value and marketability.

Several local factors can influence the valuation of your Help to Buy property in Lathom. The village sits within the West Lancashire district and is characterised by a mix of housing types, from historic properties around the conservation area to modern new builds on the outskirts. The Leeds and Liverpool Canal runs through the parish, adding character to certain locations but also bringing considerations around flood risk and maintenance responsibilities. Properties near the canal often have unique selling points but may also face specific issues that affect their value.

Historical data indicates that the Lathom area experienced price corrections in recent years, with some sub-markets showing more volatility than others. Lathom Park, for instance, saw prices decline significantly from their 2013 peak, while broader Lathom prices have shown more stability around the £295,000 average. The presence of the canal and nearby rural surroundings makes certain properties attractive for families seeking a quieter village setting while remaining within reach of Ormskirk and Skelmersdale for work and amenities. Our valuers stay up to date with these local market trends to ensure accurate assessments.

Flood risk is a consideration in some parts of Lathom. A West Lancashire District Flood Report identified three properties in the Carr Lane area that experienced internal flooding in December 2015. While not all properties are affected, certain locations near watercourses or low-lying areas may warrant specific consideration during the valuation process. Our valuers are familiar with local geography and factor these elements into their assessments. We note any flood risk in our reports and consider how it affects both value and insurability.