Help to Buy Valuation in TN39 (Bexhill-on-Sea)

The Help to Buy: Equity Loan scheme officially ended in March 2023, but thousands of homeowners across Bexhill-on-Sea and the wider TN39 postcode still have outstanding equity loans that need to be repaid. A Help to Buy valuation is a RICS Red Book valuation that determines the current market value of your property. This valuation is essential for several scenarios: repaying your equity loan in full, staircase payments where you buy additional share ownership, remortgaging to a new lender, or selling your property where the equity loan must be repaid from the sale proceeds.

The equity loan was typically provided as a percentage of the property value - up to 20% (or 40% in London) of the purchase price. When you come to repay this loan, the repayment amount is calculated as the original equity loan percentage applied to the current market value (or the agreed sale price, whichever is higher). This means the valuation we provide directly impacts how much you pay. In the South East, the original property price cap was £437,600, and with average TN39 property values sitting around £406,038, the valuation figure is crucial for accurate repayment calculations.

Our RICS-registered surveyors in TN39 understand the local market dynamics. They will inspect your property, research recent sales of comparable properties in the local area, and produce a comprehensive valuation report that meets Homes England requirements. The report must include at least three comparable properties that are like-for-like in terms of property type, size, and age, and located within a 2-mile radius of your property. We have detailed knowledge of the local market, including recent sales in TN39 3 and TN39 4, and understand how factors like proximity to the seafront and the presence of period properties can affect value.

Our valuers are familiar with the diverse property types across TN39, from the Detached homes in the more residential areas to the period properties and flats closer to the seafront. They use their local knowledge to identify appropriate comparable properties for your valuation, which is essential given the varied performance across different sub-areas in TN39.

• Full RICS Red Book compliant valuation
• Report addressed to Homes England
• At least 3 comparable property valuations
• Independent surveyor - no connection to estate agents
• Internal and external property inspection

When you purchased your property using the Help to Buy: Equity Loan, you received a loan from Homes England (or the relevant devolved authority) to cover part of the property value. This loan must be repaid, either when you sell the property, staircase to full ownership, or at the end of the loan term. The amount you repay is based on the current market value of your property at the time of repayment, not what you originally paid.

For example, if you purchased a property in TN39 for £300,000 with a 20% equity loan (£60,000), and your property is now valued at £400,000, your repayment would be 20% of £400,000 = £80,000. This represents a significant increase from your original loan amount, which is why obtaining an accurate RICS valuation is so important. Our surveyors in TN39 understand these calculations and provide clear, detailed reports that explain how the valuation was reached.

The South East region had a property price cap of £437,600 under the Help to Buy scheme, which affects the maximum equity loan amounts that were available. If your property was purchased near this cap, your repayment calculations will reflect this. The valuation report must clearly state the current market value and provide the comparable evidence to support this figure, which is why our thorough approach to property inspections and market research is essential.

• Repay your equity loan in full
• Staircase to increase your ownership share
• Remortgage to a new lender
• Sell your property (loan repaid from proceeds)