Help to Buy Valuations St.Albans
If you are now in the position to sell, remortgage or purchase more equity in your Help to Buy home in St.Albans or surrounding areas, then you will need an independent valuation which is required by the Governments provider - Target HCA which needs to be carried out by an independent RICS Chartered Surveyor.
Arrange a Help to Buy Valuation with our Chartered Surveyor at Morgan Sloane by getting in touch today.
Why do I need a Help to Buy valuation?
When you purchased your home through the Help to Buy scheme, you took out a loan from Target HCA based on the percentage of equity in your home. When you are in the position to sell, remortgage or release equity in your home - Target HCA will require you to provide them with an accurate, up to date valuation for your home to ensure your repayment rate is correct.
The report can only be carried out by an independent Chartered Surveyor who will provide you with an updated valuation to ensure you are paying Target HCA a fair market rate back for the loan. Therefore, you will not pay back the original value of the loan you will pay back the current value of the equity percentage.
How do you make a valuation?
To make a valuation, you will need to commission a Chartered Surveyor who will have the local market knowledge to carry out an inspection of your Help to Buy property to then complete a Help to Buy report.
Once the report has been delivered to your door, you must send the report to Target HCA who will then calculate your repayment value. It is important you commission a Chartered Surveyor only when you are in the position to sell, remortgage or release more equity as the valuation is only valid for 3 months.
To speak to our team of property specialists and book your Help to Buy valuation, please get in touch today.