A Help to Buy valuation is an independent RICS market valuation of your home, needed when you sell, remortgage to repay, or repay all or part of your Help to Buy equity loan. The amount you repay is based on your home’s market value, so Homes England needs a valuation report that meets its published criteria.
Sterlingworth Surveyors is a RICS-regulated firm (Firm Registration Number 850747). We prepare Help to Buy valuation reports addressed to Homes England, based on an inspection of your home and recent comparable sales, and set out in the form its current guidance asks for.
A Help to Buy equity loan is not a fixed sum. What you owe is a percentage of your home’s value at the time you repay, so the figure goes up or down with the property market. A Help to Buy valuation report establishes that current market value.
When you repay, the amount is worked out from the market value in a compliant RICS valuation report and the percentage you are repaying. If you are selling, Homes England bases the repayment on the market value in the report or the price you sell for, whichever is higher. Interest, fees and any arrears are added on top.
You need a Help to Buy valuation whenever you repay all or part of your equity loan, because the repayment is based on your home’s market value at that time. That includes:
A part repayment must be at least 10% of your home’s market value, and you cannot leave less than 5% of the market value to repay. If you are remortgaging without repaying any of the loan, follow Homes England’s remortgage guidance: whether you need its permission depends on whether you stay with your current lender.
A Help to Buy equity loan is not a fixed sum. What you owe is a percentage of your home’s value at the time you repay, so the figure goes up or down with the property market. A Help to Buy valuation report establishes that current market value.
When you repay, the amount is worked out from the market value in a compliant RICS valuation report and the percentage you are repaying. If you are selling, Homes England bases the repayment on the market value in the report or the price you sell for, whichever is higher. Interest, fees and any arrears are added on top.
A Help to Buy valuation report sets out the market value of your home, supported by an inspection and recent sales of similar homes nearby. Our reports are prepared in line with RICS Valuation – Global Standards (the Red Book) and the current Homes England valuation criteria.
The valuer inspects the inside of the property in person, noting its size, layout, condition and features. A desktop assessment is not accepted for the original valuation.
At least three like-for-like homes, similar in type, size and age, within two miles, with sale prices from the last 12 months.
Commentary written for your property, explaining how the comparable sales support the market value given.
Signed and dated by the valuer, on the firm’s headed paper, addressed to Homes England and supplied as a PDF that cannot be edited.
Homes England can reject a report that does not follow its criteria, or where the value is too high or too low compared with similar properties. If a report is rejected, you need to provide a new one.
A Help to Buy valuation report is valid for 3 months from the date it was produced. If your sale, remortgage or repayment will not complete within that time, Homes England’s guidance allows the valuation to be extended rather than always starting again.
If the report expires before you repay, there are two ways to extend it:
Either must be on headed paper, addressed to Homes England, and sent promptly after it is issued. If neither route is available, you will need a new valuation report.
This page is about the Help to Buy: Equity Loan scheme in England, which Homes England oversees. The scheme has closed to new applications in England, but existing loans stay in place until they are repaid. If your loan was taken out under the Welsh scheme, different guidance applies.
Homes England’s guidance says your surveyor must be RICS qualified and registered, independent of any estate agent, and not related to or known to you. If your loan is a Help to Buy: Equity Loan (2021–2023), the surveyor must also be a RICS member or fellow (MRICS or FRICS).
No. An estate agent’s valuation or marketing appraisal is not accepted. Homes England needs a formal RICS valuation report from an independent surveyor.
When you ask us for a quote, tell us when your equity loan was taken out and why you need the valuation, so the instruction is matched to the right criteria. The rules can change, so always check the current GOV.UK guidance on Help to Buy valuations before you instruct any surveyor.
Covering London and the South East from our office in Chessington.
If you also want to know about the condition of your home, a valuation does not cover that; see our residential surveys for the difference, or all our residential valuation services.
The report is only valid for a limited time (see below), so book it when your sale, remortgage or repayment is ready to move, and speak to your conveyancer about the likely timetable first.
“Staircasing” means buying a bigger share of a Shared Ownership home, which is not the same as repaying a Help to Buy equity loan. If you own through Shared Ownership, see our shared ownership staircasing valuations.
The fee depends on the property and the service you need. Tell us about your home and your equity loan, and we will confirm a fixed fee before you instruct us. Homes England also charges its own fees when you repay, which are separate from ours.
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A Help to Buy valuation report is valid for 3 months from the date it was produced. If it expires before you repay, Homes England accepts either an extension letter from the same surveyor, which adds 1 month, or a desktop valuation from the same RICS firm, which adds 3 months from the date it expired.
Yes. Whether you repay in full or in part, the amount is based on your home’s market value at the time, set by a RICS valuation report that meets Homes England’s criteria. A part repayment must be at least 10% of the market value, and you cannot leave less than 5% of the market value to repay.
No. Homes England requires a formal valuation report from a surveyor who is RICS qualified and registered, independent of any estate agent and not related to or known to you. For a Help to Buy: Equity Loan (2021–2023), the surveyor must also be MRICS or FRICS.
You need one if you are using the remortgage to repay all or part of your equity loan, because the repayment is based on your home’s current market value. If you are remortgaging without repaying, follow Homes England’s remortgage guidance; whether you need its permission depends on whether you are staying with your current lender.
When you sell, Homes England bases the repayment on the market value in your RICS valuation report or the price you sell for, whichever is higher. When you repay without selling, it is based on the market value in the report. Interest, fees and any arrears are added to the amount due.
Homes England can reject a report that does not follow its valuation criteria, or where the value is too high or too low compared with similar properties. If that happens, you need to provide a new report. Using a surveyor who works to the current criteria reduces that risk, but acceptance is always Homes England’s decision.
No. A Help to Buy valuation is for repaying an equity loan. A staircasing valuation is for buying a larger share of a Shared Ownership home, which is a different scheme with its own rules. If you are not sure which applies, your conveyancer can confirm.
If you are selling, remortgaging or repaying your equity loan, tell us about your home, when the loan was taken out and what you need the valuation for. We will confirm the fee and scope before you instruct us, and prepare a Help to Buy valuation report addressed to Homes England.
