The Help to Buy scheme is a government initiative that helps first-time buyers and existing homeowners purchase a property with a smaller deposit of as little as 5%. The government then provides an equity loan of up to 20% of the property value (or 40% in London) to help the buyer secure a mortgage with a lower interest rate.

Why do I need a Help to Buy Valuation?
A Help to Buy valuation is required when a property owner who used the UK government's Help to Buy scheme to purchase their home wants to repay the government backed loan, remortgage or sell their property. Target HCA, who have been appointed by the Homes and Communities Agency (Homes England) to administer the Help to Buy scheme, require you to get an independent Help to Buy Valuation report from a RICS registered valuer. The criteria for a Help to Buy valuation are quite strict, and Target HCA will reject any valuation reports that do not comply with their requirements. Our reports are fully compliant with Target HCA’s specific requirements, giving you peace of mind that it will be accepted.
What are the valuation requirements to be compliant with Target?
The Valuer must be appropriately qualified and RICS registered; The Valuer must be independent and not connected to an estate agent; The report must be on company headed paper, signed by the RICS surveyor and addressed to Target; The Valuer MUST consider at least 3 comparable properties and sale prices; The Valuer must not be known or related to you; The Valuer must assess the interior of the property and provide a full valuation report; Valuations carried out for bank or mortgage purposes are not acceptable; A copy of the valuation report must be supplied to Target; the inspection date must be shown on the report.
How long is the valuation report valid for?

How long is the valuation report valid for?

Our help to buy valuation reports are valid for 3 months. If after this period the property transaction does not materialise then we are able to provide a desktop valuation which will be valid for an additional 3 months. This can be provided by the original surveyor, who is not required to revisit the property and will reconfirm the valuation.

Mylako RICS Registered Valuers

Contact us today to arrange your valuation appointment,  that will save you time and money.  You can use the contact form or speak to us directly on 020 7183 0321.


Mylako can support you

Whether you’re buying or selling, extending your lease, calculating your tax liabilities, or looking for a dedicated Property Manager
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