The Scheme
What is a Help to Buy Valuation?
The Government’s Help to Buy equity loan scheme helped buyers purchase a new-build home with an equity loan of up to 20% of the property value (40% in London). Because the loan is a percentage of the property’s value — not a fixed sum — the amount you repay depends on what the property is worth when you sell, redeem or staircase.
Homes England (and Target HCA, who administer the scheme) require an independent valuation from a RICS Registered Valuer before they will issue a redemption figure. The valuer must be independent of you and of any estate agent involved in the sale, and the report must follow the RICS Red Book — the professional standard that guarantees an unbiased, evidence-based market value supported by comparable sales.
The valuation is used in three situations: a sale (your equity loan percentage is repaid from the sale proceeds), a redemption (you repay the loan while keeping the property, for example when remortgaging), and staircasing (you repay the loan in instalments). In every case, the RICS valuation sets the figure your repayment is calculated from.
Timeline
How Long Does it Take?
Typical turnaround is 5–7 working days from instruction to report. Your valuation is valid for three months from the inspection date — if your redemption completes after that, a short extension can be arranged by the valuer within set criteria.
Once you receive the report, you (or your solicitor) submit it to Homes England via Target HCA, who use the figure to calculate your redemption amount and issue an Authority to Proceed.
Common Questions
Frequently Asked Questions
Can I use any RICS valuer for Help to Buy?
No. Homes England requires the valuer to be a RICS Registered Valuer who is independent of you, the seller and any estate agent involved in the transaction. Estate agent appraisals and mortgage lender valuations are not accepted. SPI’s valuers meet all Homes England criteria.
What if I disagree with the valuation figure?
Speak to the valuer first — if you have evidence of comparable sales the valuer has not considered, they can review the figure. If you still disagree, you may commission a second independent valuation, but Homes England will normally rely on a compliant Red Book valuation submitted with your application.
How long is the valuation valid for?
Three months from the date of inspection. If your sale or redemption has not completed in that time, the valuer can extend the valuation within set criteria — typically a desktop review — for a small additional fee.
What happens after I submit to Homes England?
Target HCA (Homes England’s administrator) reviews the report, calculates your repayment based on the valuation figure and your equity loan percentage, and issues a redemption letter / Authority to Proceed. Your solicitor then completes the repayment.
Can I get a HTB valuation if I am selling?
Yes. When selling, Homes England requires a RICS valuation to determine the equity loan repayment. If your agreed sale price is higher than the valuation, the repayment is normally calculated on the higher figure.
Do I need a valuation for staircasing?
Yes. Each staircasing instalment (partial repayment) must be based on the property’s market value at the time, so a current RICS valuation is required for every staircasing transaction.