Help to Buy Valuation in Michelmersh & Timsbury

A Help to Buy valuation is an official property valuation carried out by a RICS registered valuer that is required for all properties purchased through the Help to Buy equity loan scheme. The valuation determines the open market value of the property, which in turn calculates how much equity loan you can receive from the government (up to 20% of the property value outside London). This valuation is more detailed than a standard mortgage valuation because it forms the basis for calculating the government contribution to your property purchase. The report must be prepared by a RICS registered valuer who has inspected the property personally and is familiar with the local market conditions in Michelmersh and Timsbury.

Our Help to Buy valuations in Michelmersh and Timsbury start from £300, depending on the size and type of property. This is a fixed fee with no hidden costs, and we provide a detailed valuation report that meets all Help to Buy scheme requirements. The fee is typically paid by the buyer as part of the overall purchase costs. The cost represents excellent value when you consider that the valuation determines your equity loan amount, which could be tens of thousands of pounds. We believe in transparent pricing with no surprises, and we will always confirm the full cost before proceeding with the instruction.

The property inspection itself usually takes between 30-60 minutes, depending on the size of the property. We aim to deliver the final valuation report within 5-7 working days of instruction, though this can be faster for urgent cases. We will always keep you updated throughout the process. If you have a tight deadline for your property purchase, please let us know when you instruct us and we will do our best to accommodate your timeline. Our valuers work throughout the Test Valley area, which means we can often schedule inspections quickly and efficiently.

If the valuation is lower than the purchase price, it can affect the amount of Help to Buy equity loan you receive. The loan is calculated as a percentage of the valuation, not the purchase price. If this happens, you may need to increase your deposit or negotiate with the developer. Our valuers will always provide a fair, accurate valuation based on comparable evidence. In our experience with the Michelmersh and Timsbury market, valuations coming in below the asking price is relatively rare given the limited supply of new build properties in the area. However, if it does occur, our valuer will be able to explain exactly how they reached their figure and provide evidence to support the valuation.

No, a standard mortgage valuation is not sufficient for Help to Buy purposes. The scheme specifically requires a valuation carried out by a RICS registered valuer that meets their detailed requirements. This is because the valuation determines the government equity loan amount, so it must be impartial and thoroughly documented. A mortgage valuation is typically a brief inspection focused on ensuring the property offers adequate security for the loan, whereas a Help to Buy valuation is more comprehensive and must meet specific RICS standards. Using the wrong type of valuation can delay your purchase or result in your application being rejected, so it is essential to instruct the correct valuation from the outset.

You will need to provide the property details including the address, floor plan if available, and any information about the development from the seller or developer. Your solicitor will also be able to provide relevant documentation. Our team will contact you before the inspection to confirm all required details. Ideally, you should have a copy of the reservation form or missives from the developer, any brochures or marketing materials for the property, and details of any incentives or extras included in the purchase price. The more information our valuer has, the more accurate your valuation will be.

We provide Help to Buy valuations throughout Michelmersh and Timsbury, including all surrounding areas in Test Valley such as Romsey, North Baddesley, Valley Park, and Chandlers Ford. Our valuers are familiar with the local property market across this entire area and can provide accurate valuations regardless of your specific location. If you are unsure whether we cover your development or area, please get in touch with our team who will be happy to confirm.