Help to Buy Valuation in Splott, Cardiff

When you purchased your property through the Help to Buy Wales scheme, you received an equity loan from the Welsh Government to assist with your deposit. This loan is typically 20% of the property value, meaning you only needed a 5% deposit and a mortgage for the remaining 75%. As your property increases in value, the Welsh Government retains a 20% stake, and you will need to repay this equity when you sell your property or after 25 years, whichever comes first.

A Help to Buy valuation differs from a standard mortgage valuation. The surveyor must be completely independent and cannot be connected to any estate agent or party involved in the transaction. The report must be addressed to Homes England or the Welsh Government, and the valuer must provide at least three comparable properties within a two-mile radius of your property. These comparables must be like-for-like in terms of type, size, and age.

In Splott, where the housing stock is predominantly Victorian and Edwardian, finding suitable comparables is generally straightforward given the number of similar properties that have sold in the area. Our surveyors know the local market intimately and can identify appropriate comparables that reflect current market conditions in your specific part of Splott, whether you are near Splott Road, Metal Street, or closer to the River Rumney. We regularly value properties along Courtenay Road, Walker Road, and the residential streets surrounding St Alban's Church on Swinton Street.

Properties purchased through Help to Buy Wales after April 1, 2023 must meet a minimum EPC rating of B, and the maximum purchase price is capped at £300,000. If you are redeeming an older Help to Buy equity loan, our surveyors will ensure all current Welsh Government requirements are met in your valuation report. The average equity loan in Wales is approximately £44,000, and your valuation will determine the current market value against which your repayment percentage is calculated.

• Independent RICS-registered valuer
• Minimum three comparable properties
• Valid for three months
• Physical inspection required
• Addressed to Welsh Government

Splott's housing landscape is defined by its Victorian and Edwardian heritage. The majority of properties were built between 1875 and 1914 to house workers from the East Moors Steelworks, which opened in 1891. These tightly knit terraced houses are a defining feature of the area, with many featuring characteristic bay windows constructed from Pennant sandstone or, in some Edwardian properties, red brick with Bath stone details. The area also contains several notable listed buildings, including the Church of St Alban's On the Moors on Swinton Street and the Church of St Saviour on Carlisle Street, both Grade II listed.

When valuing Help to Buy properties in Splott, surveyors must consider several area-specific factors. Properties in lower-lying areas near the River Rumney and Roath Brook may be affected by flood risk, which is taken into account in the valuation. The ongoing £35 million coastal defence scheme along the foreshore from Tidefields Road to the River Rhymney estuary is addressing these concerns, with completion expected to protect over 1,100 residential properties. This scheme, which began in 2024, involves installing rock armour and steel sheets drilled 19 metres into the ground.

The age of Splott's housing stock also means that surveyors look for common defects associated with Victorian construction. These can include minor movement to bay window plinths, cracks to lintels, and separation at ceiling junctions. While these are typically minor issues, they are documented in the valuation report as they can affect the property's market value. Properties with shallow foundations on clay-rich soils may also be susceptible to shrink-swell movement during dry spells, particularly given the area's geology. The terrain of Splott consists of alluvium and estuarine marls near the river, with river gravels further inland.

Splott has a population of approximately 13,000 residents across 5,100 households. The area is served by local employers including Celsa Steel UK, FTH Hire Group on the Splott Industrial Estate, and Cardiff Community Housing Association. The ongoing regeneration, including the Glan Morfa development with Lovells and new affordable housing projects, continues to shape the local property market. The Cottage pub on Splott Road has been selected for Cardiff's local heritage list, reflecting the area's character.

• Victorian terraced housing predominates
• Pennant sandstone construction common
• Flood risk in lower areas near River Rumney
• Potential for minor structural movement
• EPC rating of B required for HTB properties