Help to Buy Valuation in OL2 | Royton & Shaw

A Help to Buy valuation is a specific type of RICS Red Book valuation required by Homes England when you want to repay your equity loan, remortgage, or sell your Help to Buy property. Unlike a standard mortgage valuation, this report must be carried out by an independent RICS-qualified surveyor who has no connection to any estate agent or mortgage broker involved in your transaction. Our surveyors meet these strict independence requirements on every valuation we undertake.

Our surveyors follow strict guidelines when valuing Help to Buy properties in OL2. The valuation report must include at least three comparable property sales from within the last twelve months, located within two miles of your property, and similar in type, size, and age. This ensures the valuation accurately reflects current market conditions in your specific area of Oldham. When we value a property on Chadderton Road in OL2 5, for example, we specifically look for comparable sales in that immediate vicinity rather than relying on broader OL2 averages.

The report itself must be produced on company-headed paper, signed and dated by the RICS surveyor, and addressed to Homes England (formerly Target HCA). It needs to be submitted within five days of being produced and remains valid for three months from the date of the survey. If your valuation expires, you may be able to request a one-month extension, but after that point, a new full valuation would be required. Our team ensures all reports are produced on time and submitted within the correct timeframe so you don't face unnecessary delays in your redemption process.

One important requirement that many OL2 property owners overlook is that valuations carried out for banking or mortgage purposes are not acceptable for Help to Buy redemption. Even if you've had a mortgage valuation done previously, you'll need a specific Help to Buy valuation that meets Homes England requirements. We make this clear from the outset so you don't waste time or money instructing the wrong type of survey.

• Independent RICS-qualified surveyor
• Minimum 3 comparables within 2 miles
• Valid for 3 months
• Accepted by Homes England

Properties in OL2 span several decades of construction, from older terraced houses in traditional Royton streets to newer developments like Greencroft Meadow in OL2 6LQ, which offers contemporary 3, 4, and 5-bedroom homes. Understanding the construction type of your property is important because it affects both the valuation methodology and potential issues that may affect value. The age and construction method of your home directly influences which comparable properties we can use and how we assess its current market value.

The majority of properties sold in OL2 over the past year have been semi-detached homes, which are prevalent throughout Royton and Shaw. These properties typically offer good value compared to detached homes, with average prices around £245,000, while terraced properties average approximately £176,000. Flats in the area average around £138,000, making them the most affordable option in OL2. When we value your property, we take these specific price points into account along with your property's individual features and condition.

Oldham has a historical connection to coal mining, which means some properties in the area may be affected by past mining activity. While this doesn't necessarily impact all properties in OL2, it's a factor that our surveyors consider when assessing your home. We've encountered properties in the OL2 area where mining reports have been requested by lenders, and we know how to identify signs that might indicate the need for a more detailed structural assessment. If your property has any unusual features such as external cladding or potential planning permission breaches, a specialist surveyor may be required to provide additional expertise.

The construction materials used in OL2 properties typically follow Greater Manchester patterns, with red brick being predominant in older properties and a mix of render and brick in more modern homes. Many of the semi-detached properties built during the post-war period use traditional cavity wall construction, while newer developments often feature modern insulation standards. These construction differences can affect both value and mortgageability, and our surveyors understand how to reflect these factors in your Help to Buy valuation.

If you purchased a new build property in OL2 through Help to Buy, such as those at Greencroft Meadow in Royton or other developments in the Shaw area, your valuation may require additional considerations. New build properties can be more challenging to value because there may be limited comparable sales in the immediate area, particularly for unique designs or premium specifications. Our surveyors have experience dealing with these situations and know how to justify the valuation using appropriate methodology.

Our surveyors are experienced in valuing new build properties throughout Oldham. They understand the premium that new builds often command and can justify this in their report using appropriate comparables. Whether your property is a three-bedroom terraced house or a five-bedroom executive home in an exclusive development, we'll ensure your valuation accurately reflects its market value. We've valued numerous new build properties in the OL2 area and understand the premiums that buyers are willing to pay for brand new homes with modern fixtures and fittings.

Some new developments in OL2, such as the Heritage Collection, offer premium features like underfloor heating and contemporary design elements. These factors are taken into account when determining your property's value, and our surveyors will ensure all relevant features are properly reflected in your Help to Buy valuation report. We've seen developments in OL2 6 where properties with premium specifications have achieved prices significantly above the sector average, and we factor this into our valuations.

One thing to be aware of with new build properties is that the original Help to Buy valuation may have been based on the property's value at the time of purchase, which could have included developer incentives or incentives that are no longer available. Our valuation reflects the current open market value, which may differ from the original purchase price depending on how the market has performed in your specific area of OL2.