Help to Buy Valuation in Luxborough

A Help to Buy valuation is a specific type of RICS Red Book valuation that is required when you want to repay your equity loan, remortgage your property, or sell your home that was purchased through the Help to Buy scheme. Unlike a standard mortgage valuation, this is a detailed assessment carried out by a qualified RICS surveyor who will inspect the property inside and out, analyse comparable sales data for the local area, and provide a formal valuation report addressed to Homes England. Our team will visit your property at a time convenient for you, conduct a thorough internal and external inspection, and take photographs of the property for our records and the final report. We understand that this process can feel intrusive, but our surveyors are trained to be thorough yet respectful of your home.

The valuation must reflect the current market value of your property as a single, unencumbered freehold or leasehold interest. Our surveyors will consider various factors including the property's condition, location, size, and the current state of the local housing market in Luxborough and the wider TA23 area. We will look at recent sales of similar properties in the village and surrounding area, taking into account the unique characteristics of properties within Exmoor National Park. The report is valid for three months from the date of inspection, giving you adequate time to complete your equity loan redemption or remortgage process.

It is important to note that Help to Buy valuations are different from the survey reports you may have had when you first purchased your property. A Level 2 or Level 3 survey provides a detailed assessment of the property's condition and any defects, while the Help to Buy valuation focuses specifically on determining the market value for equity loan purposes. However, many homeowners choose to have both carried out simultaneously to understand both the value and the condition of their property. This can be particularly useful for older properties in Luxborough, where traditional construction methods may have resulted in defects that need addressing.

Our valuers are fully independent, as required by Homes England, meaning we have no financial interest in the outcome of the valuation. We are registered with RICS and have the necessary expertise to value properties in the Exmoor National Park area, including historic cottages, traditional farmhouses, and modern conversions. When you book your valuation with us, you can be confident that you will receive an accurate, impartial assessment of your property's market value.

• RICS qualified surveyor
• Market value assessment
• Valid for 3 months
• Homes England compliant
• Independent of buyer and seller

Properties in Luxborough and the surrounding Exmoor National Park area are characterised by their traditional construction and rural setting. Many homes in this area are constructed from local stone, with rendered walls and slate or thatched roofs. The village has historical roots dating back to the Norman period, with the Church of St Mary serving as a notable historic landmark. Some properties in the area date from the iron ore mining era, which was active in the Brendon Hills approximately 100 years ago. This mining heritage means some properties may have been built using materials or methods associated with that period, which can affect their current condition and value.

Given the age and traditional construction methods used in many Luxborough properties, our surveyors pay particular attention to common issues found in older rural homes. These can include damp (both rising and penetrating), timber defects such as rot and woodworm, issues with older roofing materials, outdated electrical wiring and plumbing, and general wear and tear. Properties in rural settings may also experience issues related to drainage, septic tanks, and private water supplies, which are not uncommon in villages like Luxborough that are not connected to mains sewage systems. Our valuers will take all these factors into account when assessing your property's market value.

The geology of the Exmoor National Park, where Luxborough is situated, is predominantly Devonian slates, sandstones, and limestones. Clay soils can be present in valleys and lower-lying areas, which may carry a shrink-swell risk that can affect property foundations over time. This is particularly relevant for properties built on clay soils, which can expand and contract with changes in moisture content, potentially causing subsidence or structural movement. Our surveyors are aware of these local factors and take them into consideration when assessing your property, noting any signs of movement or foundation issues during the inspection.

Additionally, properties located near the Washford River, which rises near Luxborough and flows through the Kingsbridge valley and Pooltown, may be at risk of fluvial flooding. Surface water flooding can also be a risk in areas with poor drainage or during heavy rainfall, particularly in the hilly terrain of the Brendon Hills. While Luxborough itself is not in a high-risk flood zone, properties near watercourses should be carefully assessed. The village also has a history of iron ore mining, which ceased about 100 years ago, and residual mining activity could potentially pose a risk to properties built over or near old mine workings. Our valuers will consider these environmental factors when determining the market value of your property.

• Traditional stone construction
• Historic building age
• Rural drainage systems
• Clay soil foundations
• Flood risk near watercourses
• Mining heritage considerations