Help to Buy Valuation in Stone

The Help to Buy equity loan scheme, which operated from 2013 to 2020, allowed buyers to purchase new build properties with just a 5% deposit, with the government providing an equity loan of up to 20% (or 40% in London). If you are one of the many homeowners in Stone who purchased through this scheme, you will eventually need to redeem your equity loan, which requires a formal RICS valuation. This requirement applies whether you are selling your property, remortgaging to a new lender, or choosing to staircase (repay part or all of your equity loan early).

Our team of experienced RICS registered valuers understand the local Stone market intimately. We are familiar with developments such as Udall Grange on Eccleshall Road (ST15 0BY), where Persimmon Homes delivered 478 new properties across multiple phases. We also cover the broader ST15 postcode area, including Walton and the surrounding villages. Our valuers stay up to date with current market conditions, including recent price trends in the ST15 8 sector which saw a 2.3% decline in the last year.

The valuation process involves a thorough inspection of your property, comparable market analysis, and production of a formal valuation report that complies with RICS Red Book standards. This report is what lenders and Homes England require before allowing you to repay your equity loan or sell your property. Our surveyors will measure your property, assess its overall condition, take photographs, and analyse recent sales data for similar properties in the Stone area to determine an accurate market value.

It is important to note that if your property value has decreased since you purchased it, you may be required to repay more than your original equity loan amount, or face early repayment charges. Our valuers will provide an accurate current market valuation to help you understand your position before proceeding with any sale or redemption. We recommend getting in touch with us early in your planning process so you can understand the financial implications of your equity loan.

• RICS Red Book Compliant
• Accepted by All Major Lenders
• Fixed Fees Available
• Fast Turnaround Times

Stone has experienced considerable transformation over the past decade, with several major housing developments reshaping the town. The Udall Grange development by Persimmon Homes on Eccleshall Road (ST15 0BY) represents one of the largest growth areas, delivering 478 new homes across three phases. Properties at Udall Grange range from two-bedroom homes starting at £271,950 to five-bedroom houses at approximately £425,000. This development has significantly changed the character of the western side of Stone and continues to attract families looking for modern new build properties.

Additional development is planned at Marlborough Road in Walton (ST15 0JX), where Taylor Wimpey has submitted plans for around 140 new homes. Bloor Homes is also proposing a major 515-home neighbourhood on Eccleshall Road, which would include affordable housing and a new first school. Richborough Estates has submitted an outline planning application for a further 240 residential dwellings on land off Eccleshall Road. These developments highlight continued demand in the Stone area and make accurate RICS valuations essential for both new build and existing properties.

The Stone property market saw 222 residential sales in the last year, with prices showing modest growth of 1.05% annually. However, the ST15 8 postcode sector experienced a 2.3% decline, and overall sold prices in the ST15 district were 9% down on the previous year. This nuanced market makes professional valuation advice particularly valuable for Help to Buy owners who need to understand their current position before proceeding with any sale or equity loan redemption. The average property price in Stone currently sits at £272,790, though this varies significantly by property type.

The local economy in Stone is supported by several key employers and institutions. Staffordshire Fire and Rescue Service has its headquarters just south of the town, while Yarnfield Park Training and Conference Centre, owned by BT Group and run by Accenture, serves as a major training facility for the UK telecommunications industry. The town also has a rich history tied to the Trent and Mersey Canal and the brewing industry, which has shaped its character over the centuries.

Stone's housing stock reflects its rich architectural heritage, with the historic town centre featuring late 18th-century red brick houses in a distinctive Georgian style. The conservation area, whose boundary was revised and adopted in October 2008, protects much of this historic character. Stafford Borough Council has implemented an Article 4 Direction in Stone to control minor works that could affect the character of the conservation area, reflecting the importance of preserving the town's visual heritage.

The local geology of Staffordshire includes various sandstones, particularly Triassic sandstones such as the Hollington Formation, and Carboniferous limestones, which have been used historically for building and walling. Historic paving in the town includes stone setts and Staffordshire blue brick in side alleys, distinctive features that reflect the local building traditions. For modern properties, particularly those built as part of Help to Buy developments like Udall Grange, standard brick construction with cavity wall insulation is typical.

Our valuers are experienced in assessing all property types in Stone, from historic Georgian properties in the town centre to modern new builds on the outskirts. When valuing properties, we consider the construction method, materials used, and any environmental factors that may affect value. This local knowledge is particularly important when assessing Help to Buy properties, as the valuation must reflect current market conditions and the specific characteristics of properties in this area.

• Georgian Red Brick Properties
• Conservation Area Protection
• Historic Sandstone Features
• Modern New Build Construction

Stone faces several environmental considerations that can affect property values and are taken into account during our valuations. The town is identified as being at high risk of surface water flooding, which is an important factor for potential buyers and owners to consider. Additionally, Stone is partially located within the inundation extents of Trentham Gardens Lake and Black Lake reservoirs, adding another dimension to flood risk assessment in the area.

Fluvial flood risk exists along the River Trent, which flows past the west of Stone, affecting some roads including Woodlands Close, St Vincent Road, Woodlands Avenue, and the A34. The Filly Brook also poses a flood risk to properties in these areas. On the eastern side of Stone, properties on Trent Road, Meadowside, Chandlers Way, Trent Close, the A520, and Abbey Street fall within flood zones of various watercourses. The Scotch Brook presents additional fluvial flood risk to some properties in the town.

When conducting valuations for Help to Buy properties in Stone, our surveyors take these environmental factors into account. Properties located within designated flood zones may be subject to specific lender requirements, and this information is included in our valuation reports. We always recommend that buyers and owners are aware of these risks and factor them into their property decisions. While the overall flood risk for Staffordshire on any given day is typically very low, historical flooding events have affected certain areas of Stone.

For Help to Buy property owners, understanding these environmental factors is important when planning to sell or redeem your equity loan. Our valuers can provide guidance on how these factors may impact your property's market value and what requirements lenders may have. If you are concerned about how flood risk might affect your valuation, please speak with our team who can provide specific advice for your property.