Help to Buy Valuation in Litton Cheney

A Help to Buy valuation is a specific type of RICS Red Book valuation required when you reach the end of the initial five-year interest-free period, or if you choose to remortgage or sell your property before then. The government equity loan scheme, which allowed buyers to purchase with just a 5% deposit with the government providing a 20% equity loan (or 40% in London), requires an independent RICS-registered surveyor to determine the current market value of your property.

The valuation report we provide for your Litton Cheney property follows strict RICS guidelines and includes a comprehensive inspection of the property, analysis of comparable sales in the local Dorset market, and the final opinion of value. This report is what the Help to Buy agency and your lender require to calculate any repayment amount or to approve your remortgage application.

Our valuers understand the Dorset property market thoroughly. While Litton Cheney itself is a small village with limited transaction history, our expertise in the broader Dorchester area and understanding of rural Dorset property values ensures you receive an accurate and defensible valuation. The current market shows prices approximately 26% below the 2022 peak of £551,000, and this market context is factored into your valuation.

When you first purchased your Litton Cheney property through Help to Buy, the government provided an equity loan worth up to 20% of the property value (or 40% in London). This loan is secured against your property, and your repayment amount is based on the current market value of your home, not the original purchase price.

If your property value has increased since purchase, you will need to pay back the original loan amount plus any increase in the percentage. For example, if you borrowed £80,000 (20% of a £400,000 property) and your property is now worth £500,000, you would repay £100,000 (20% of the new value). Conversely, if your property has decreased in value, you may be able to repay less than the original loan amount, though the Help to Buy agency has specific rules around this.

The current Litton Cheney market, with prices 33% lower than last year and 26% below the 2022 peak, means many Help to Buy owners in the area may find their property is now worth less than their original purchase price. Our valuation will provide an accurate assessment of your current position and help you understand your repayment options.