RICS-compliant valuations for repaying your Help to Buy equity loan in the capital
London had the most generous Help to Buy scheme in England, with equity loans up to 40% of the property value compared to just 20% elsewhere. Over 12,200 London properties were purchased using Help to Buy equity loans between 2013 and 2018, with Barnet, Croydon, and Greenwich seeing the highest uptake. Now that the first wave of buyers has passed the five-year interest-free period, many are facing significant monthly interest charges and need a RICS-compliant valuation to repay their equity loan. With London's average house price at £559,000, a 40% equity loan on a typical property represents over £220,000 that must be repaid based on current market value — not the original purchase price. The valuation determines exactly what you owe.
£559,000
Average House Price
12,200+
Help to Buy Properties
Purchased 2013-2018
From £400
HTB Valuation Cost
London pricing
40%
London Equity Loan
Highest in England
The financial stakes for London Help to Buy homeowners are higher than anywhere else in England because of the capital's unique 40% equity loan scheme. Under the standard Help to Buy programme, borrowers outside London received a 20% government loan, but the capital's elevated property prices meant buyers needed double that assistance to access the market. Properties bought with Help to Buy in London had a maximum price cap of £600,000. If you purchased at or near that cap with a 40% equity loan, you borrowed £240,000 from the government. After five years, interest charges begin at 1.75% per year, rising annually by RPI plus 1%. On a £240,000 loan, year six interest alone would be £4,200 per year. If your property has increased in value, the equity loan amount rises proportionally — meaning both the underlying debt and the interest charged on it can climb each year.
A RICS Help to Buy valuation establishes the current market value of your property, which determines the exact repayment amount whether you are selling, remortgaging to clear the loan, or staircasing to reduce it. The valuation must meet strict government criteria set by Homes England: the surveyor must be RICS-registered, provide at least three comparable properties sold within the last 12 months within a two-mile radius, and ensure those comparables match your property type, size, and age. The report is valid for three months and must be submitted to Lenvi Servicing Limited, the administrator appointed by Homes England. Without this compliant valuation, you cannot proceed with any form of equity loan redemption.
London property values fluctuate significantly by borough and have shown mixed trends in recent years. The average London property price fell by 0.7% across 2025 due to affordability pressures and increased housing supply, but some boroughs saw stronger declines while others remained stable or even increased slightly. This variability means that some London Help to Buy owners may find their property has appreciated less than expected — or even decreased in value — reducing the equity loan repayment amount. Others in high-demand zones may face substantially higher repayment sums. A professional RICS valuation provides the definitive figure, protecting you from overpaying while ensuring compliance with the scheme's legal requirements.
Source: ONS Census 2021. Help to Buy properties in London were predominantly new-build flats and houses within the £600,000 price cap.
London Help to Buy borrowers face the highest equity loan exposure in England. A 40% loan on a property purchased for £500,000 means you owe £200,000 based on the original value — but the repayment amount is calculated on the current market value. If your property has appreciated to £600,000, your 40% repayment rises to £240,000. This £40,000 increase is far more significant than the equivalent appreciation would be for a 20% equity loan outside London. Interest charges after year five compound this issue: 1.75% annually on £240,000 is £4,200, rising each year by RPI plus 1%. Many London homeowners underestimate the financial pressure this creates, making an accurate RICS valuation essential for planning your exit strategy.
| Valuation Type | London | National Avg | Difference |
|---|---|---|---|
| Help to Buy Valuation (standard) | From £400 | From £350 | +£50 |
| Help to Buy Valuation (high-value) | From £500 | From £400 | +£100 |
| Shared Ownership Valuation | From £380 | From £320 | +£60 |
Help to Buy Valuation (standard)
London
From £400
National Avg
From £350
Difference
+£50
Help to Buy Valuation (high-value)
London
From £500
National Avg
From £400
Difference
+£100
Shared Ownership Valuation
London
From £380
National Avg
From £320
Difference
+£60
London Help to Buy valuations cost more due to higher property values and the complexity of assessing comparable sales in a diverse and fluctuating market.
The surveyors we work with across London are RICS-registered professionals experienced in Help to Buy equity loan valuations. They understand the specific requirements set by Homes England, including the need for tightly matched comparables and strict adherence to Red Book valuation standards. Based across all 33 London boroughs, they have access to local market data and know how to identify genuine like-for-like sales in areas where property types and prices vary street by street.
Enter your property details and receive an instant price based on your London location and property type. Once you book, we arrange the inspection with your RICS-registered surveyor and coordinate access. Most London valuations can be scheduled within three to five working days depending on your availability and the surveyor's diary.
Your surveyor visits your London property to carry out the internal inspection and assess its condition and market appeal. For a standard London flat or house, the visit typically takes 60 to 90 minutes. The surveyor will also research and document at least three comparable sales within two miles, ensuring they match your property type, size, and age as required by Homes England.
The RICS-compliant valuation report is delivered within five working days of the inspection. It includes the assessed market value, details of the comparable properties used, and supporting evidence for the valuation. The report is valid for three months and can be submitted directly to Lenvi Servicing Limited to proceed with your equity loan redemption, whether you are selling, remortgaging, or staircasing.
Help to Buy equity loans are interest-free for the first five years, with only a £1 per month management fee. From year six onward, interest starts at 1.75% annually and rises each year by RPI plus 1%. For London borrowers with large 40% equity loans, delaying redemption means paying thousands of pounds in interest every year. If you purchased your Help to Buy property in 2018 or 2019, you are approaching or have already passed the five-year threshold. Getting a RICS valuation and planning your redemption strategy now — whether through a remortgage, cash repayment, or staircasing — can save you substantial costs over the life of the loan.
London's Help to Buy scheme was structured differently from the rest of England specifically because of the capital's extreme property prices. While buyers in Birmingham, Manchester, or Leeds could access new-build homes under £250,000 with a 20% equity loan, the same property types in London routinely exceeded £400,000 to £500,000. The government introduced the 40% equity loan for London purchases to give first-time buyers a realistic chance of entering the market. Boroughs such as Barnet, Croydon, and Greenwich saw the highest uptake, with Barnet alone recording over 900 Help to Buy purchases by 2018. These were predominantly new-build flats in developments designed to meet demand for affordable — or at least accessible — homeownership.
The consequences of this higher equity loan are now coming into sharp focus. London homeowners who took advantage of the 40% scheme between 2013 and 2018 have equity loans that are double the size of those held by buyers elsewhere, and property price growth in the capital has been uneven. Some boroughs experienced strong appreciation, meaning equity loan repayments have climbed significantly. Others, particularly outer London areas, have seen flat or even negative growth, which can reduce the redemption sum but also limits the equity available to refinance. A RICS Help to Buy valuation is the only way to establish your exact position. At an average London house price of £559,000 and a Help to Buy property price cap of £600,000, the financial stakes are high, and accuracy matters.
Explore our full range of property services available in London
From £520
Comprehensive RICS HomeBuyer survey for London properties in reasonable condition before purchase.
From £350
RICS valuation for staircasing or selling your shared ownership property in London.
From £120
Energy Performance Certificate required for all London property sales and lettings.
From £400
RICS Red Book valuation for mortgage, probate, tax, or financial planning purposes in London.
A Help to Buy valuation in London costs between £400 and £500 depending on the property. That represents less than 0.1% of the average London house price of £559,000, and far less than the financial exposure created by London's 40% equity loan scheme. On a property valued at £550,000, a 40% equity loan means you owe £220,000. If the valuation is inaccurate or underestimates the property value by even 5%, you could overpay by £11,000. Conversely, if the market has softened and the property is worth less than you assume, an independent RICS valuation protects you from repaying more than legally required.
Beyond protecting you from financial error, the valuation unlocks your ability to act. Without a compliant RICS report, you cannot sell, remortgage to clear the loan, or staircase to reduce it. Many London Help to Buy owners are now past the five-year interest-free window and face escalating monthly charges — 1.75% annually on a £220,000 loan is £3,850 per year, rising by RPI plus 1% each year. The sooner you obtain a valuation and make a decision on redemption, the less you will pay in cumulative interest. The valuation is not an expense; it is the gateway to financial control over one of the largest debts you will ever hold.
Help to Buy valuations in London typically cost between £400 and £500 depending on the property type, size, and borough. This is higher than the national average of around £350 because London property values are significantly elevated, requiring surveyors to invest more time identifying accurate comparable sales in a diverse and fragmented market. High-value properties approaching the £600,000 Help to Buy price cap may cost toward the upper end of the range. You can get an exact price by entering your property details through our online quote system.
The government introduced the 40% equity loan specifically for London to address the capital's exceptionally high property prices. First-time buyers in London were effectively locked out of homeownership because even new-build properties within the Help to Buy scheme routinely exceeded £400,000 to £500,000. A 20% equity loan on a £500,000 property would provide £100,000, still leaving buyers needing a £375,000 mortgage plus a £25,000 deposit — unaffordable for most. The 40% loan doubled the government contribution to £200,000, reducing the mortgage requirement to £275,000 and making the scheme viable for London incomes. This higher loan also means London Help to Buy owners now face significantly larger repayment obligations.
The on-site inspection typically takes between 60 and 90 minutes for a standard London flat or house. Larger properties or those with complex layouts may take slightly longer. After the visit, the surveyor prepares the RICS-compliant report, which is delivered within five working days. The report includes the market valuation, details of at least three comparable sales within two miles, and supporting evidence for the assessed value. Once you have the report, it is valid for three months and can be submitted to Lenvi Servicing Limited to proceed with your equity loan redemption.
If your property has fallen in value, your Help to Buy equity loan repayment is calculated on the lower current market value, not the original purchase price. This works in your favor. For example, if you bought a property for £500,000 with a 40% equity loan of £200,000, but the property is now worth £480,000, you owe 40% of £480,000, which is £192,000 — saving you £8,000. Some outer London boroughs have seen flat or even negative price growth in recent years due to affordability pressures. A RICS valuation provides the independent, evidence-based figure that protects you from overpaying and ensures you only repay what is legally due.
Yes. You must repay your Help to Buy equity loan in full when you sell the property, and a RICS-compliant valuation is required to calculate the repayment amount. The amount you owe is based on the sale price or market value, whichever is higher, so the valuation must be accurate and meet Homes England standards. Most London Help to Buy owners arrange the valuation as soon as they decide to sell, well before exchange, to understand the exact redemption sum and ensure there are no delays at completion. Without a valid valuation report, the sale cannot proceed because the equity loan cannot be legally discharged.
You can, provided that surveyor is RICS-registered and experienced in Help to Buy valuations that meet Homes England requirements. The critical difference is that your original purchase survey — whether it was a Level 2 or Level 3 — focused on the condition and defects of the property, while a Help to Buy valuation focuses solely on market value and comparable sales evidence. The surveyor must provide at least three like-for-like comparables sold within the last 12 months and within two miles of your London property. If your original surveyor can meet these criteria, they are suitable; if not, you will need a specialist valuation surveyor.
If you believe the valuation is inaccurate, you have the right to challenge it by commissioning a second independent RICS valuation. You will need to pay for the second valuation yourself, and both reports must be submitted to Lenvi Servicing Limited for review. Homes England will consider the evidence from both valuations and may request additional information or appoint a third independent surveyor to arbitrate. Disputes are uncommon when the valuation is carried out by an experienced RICS surveyor using robust comparable evidence, but the appeals process exists to protect homeowners from genuinely flawed assessments.
From the start of year six, you pay an annual interest charge of 1.75% on the outstanding equity loan amount, which is then divided into monthly payments. The interest rate increases every year by RPI plus 1%. For a London buyer with a 40% equity loan on a property now valued at £550,000, the equity loan is worth £220,000. Year six interest would be 1.75% of £220,000, which is £3,850 per year or roughly £320 per month. In year seven, the rate rises to approximately 2.75% to 3.5% depending on RPI, pushing the annual charge to between £6,050 and £7,700. This escalating cost is why many London Help to Buy owners prioritize redemption before or shortly after year five.
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We'll price your survey in seconds.
Homemove is a trading name of HM Haus Group Ltd (Company No. 13873779, registered in England & Wales). Homemove Mortgages Ltd (Company No. 15947693) is an Appointed Representative of TMG Direct Limited, trading as TMG Mortgage Network, which is authorised and regulated by the Financial Conduct Authority (FRN 786245). Homemove Mortgages Ltd is entered on the FCA Register as an Appointed Representative (FRN 1022429). You can check registrations at NewRegister or by calling 0800 111 6768.
