When a property owner who
has had a help-to-buy loan for their purchase and now
want to either pay off some of this loan (staircasing)
or redeem the loan in its entirety the lender will
require a valuation from a chartered surveyor
In most cases where the
loan is being paid off the lender will require a
percentage of any increase in value of the property at
the time of the redemption - it is necessary for the
lender to believe that the valuation has been performed
with a method that they approve and this requires a
chartered surveyor
To provide this
valuation we call to inspect your property to assess its
condition - using this knowledge we then look for a
minimum of 3 properties that are similar in size,
type and condition, that are local and sold recently -
In this way we arrive at a valuation that is as accurate
as possible
We make a charge of
£425 for this and can usually inspect within
7 days
With most of the
help-to-buy organisations these valuations are valid for
3 months - after that a new valuation will be required -
we can prepare a desktop valuation for £275 without
a further home inspection and this will extend the time
for a further 3 months |