Help to Buy surveyors must use strict valuation criteria

Help to Buy loans are managed on behalf of the government by a company called Target. Crossley surveyors meet all of the Target Help to Buy valuation criteria:

– We are RICS Certified Help to Buy Surveyors and Valuers
– Valuations are carried out in accordance with RICS Valuation Standards (Red Book)
– We are completely independent from any estate agency
– Our report will be on headed paper, will be signed by a member of the RICS and addressed to Target HCA
– We will provide at least three comparable sales (matching property type, size, and age and within a 3 mile radius of the property in question)
– We carry out a full conflict of interest check upon inspection to ensure no conflicts exist
– We will inspect the interior and exterior of the building and provide a full 7/8 page report
– The inspection date will be shown on the report

Help to Buy surveyor valuations carried out by Crossley Surveyors also comply with the RICS ‘Red Book’ – a guidance document that sets out high professional and ethical standards for property valuations.

What does a Help to Buy valuation include?

– Inspection of the property by a surveyor local to the area

– Overview of the property, its construction, locations and accommodation

– Overview of the property’s general condition, with photographs

– Details of three comparable properties nearby that have been sold in the past 12 months

– Valuation of the property, with a detailed description of the evidence and assumptions used

How long are Help to Buy valuations valid?

In accordance with Target requirements, Help to Buy valuations are valid for 3 months. If it is less than 2 weeks since the expiration date, we can carry out desktop research to extend the valuation for a further 3 months.

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Understanding your Help to Buy valuation report

The first page of the report provides an overview of the property, with information on its location, size and tenure. This is where you can find out when the property was built and whether or not it is standard-construction. Available data on the sales history will also be included here.

The comparables are used to help determine your home’s market value. Comparables are similar properties nearby. These are assessed against your property for things like size, condition, fittings and location. This helps the surveyor decide whether the comparables would be expected to have a higher, lower or similar value to your property.

At the end of the report you will find the surveyor’s assessment of the current housing market in the area – they will note whether it is rising, static or falling. Finally, you will find the estimated market value, along with any pertinent notes and evidence on how that value was determined.

We are specialists at Help to Buy Valuations for Target Help to buy and would welcome your instruction.