Forces Help To Buy Valuations
With over 20 years of experience working in the Essex property industry, our reliable and trained team are able to assist you as you move up the property ladder, with our valuations from as little as £130*.
The Forces Help to Buy scheme was launched in 2014 to help service personnel borrow up to 50% of their annual salary to be used on a deposit against a house. Homeowners who are hoping to remortgage, sell or gain more equity on their home purchased through this scheme will need to provide a Help to Buy valuation report in order to do this. The report can only be carried out by an independent party as the report outlines the amount repayable to Target HCA based on the current market value of your property.
Why do I need a Help to Buy valuation?
When you purchased your Forces Help to Buy property, you entered into a contract with Target HCA who own a percentage of the equity in your home. To buy more equity, sell or remortgage your home Target HCA requires you to provide an accurate, up-to-date and independent valuation of your home to ensure you pay them the fair market rate.
For example, if you sell you took out a 20% Help to Buy loan on your home that was originally valued at £100,000 but is now valued at £120,000, then you will pay back 20% of the current value (£24,000) instead of the original loan of £20,000 from Target HCA.
How do you make a valuation?
A Morgan Sloane Chartered Surveyor will visit your home to undertake an inspection. Using their invaluable knowledge of the local housing market they will create a Help to Buy Valuation report which will be passed to you to send on to Target HCA to calculate a repayment figure.
Please note, your Help to Buy Valuation report is only valid for 3-months. It is therefore very important that you are ready to take the next steps ahead before you start the process of commissioning the report with an independent Chartered Surveyor.
Next Steps...
To speak to a member of our specialist team, or to book a Forces Help to Buy valuation, please get in touch with Morgan Sloane today.
* + VAT. All properties are different so please contact us for a bespoke quotation today.