What is a Help to Buy loan?
With a Help to Buy Equity Loan the Government lends you up to 20% of the cost of your newly built home, so you’ll only need a 5% cash deposit and a 75% mortgage to make up the rest. You won’t be charged loan fees on the 20% loan for the first five years of owning your home.
When you come to repay your loan or sell your property, a Help to Buy valuation is required.
What is a Help to Buy valuation?
A Help to Buy valuation is an independent valuation of your property completed by an RICS Chartered Surveyor. A Help to Buy valuation is required when you own a property through the Help to Buy scheme and wish to either redeem your loan or sell your property. The valuation provides a market value for the property, which is required by Target HCA in order to calculate the repayment of your Help to Buy loan.
Andrew Granger and Co Ltd are suitably qualified and experienced to provide this valuation and can report appropriately within a week of inspecting your property. To discuss further or to obtain a quote, please get in touch with the Surveys and Valuation team or call 0116 242 9933, who will be more than happy to assist.
In order for Target HCA to calculate your repayment amount, you will need to instruct a Help to Buy valuation. Andrew Granger & Co are suitably qualified and experienced to carry out Help to Buy valuations throughout the whole of Leicestershire. To find out more please call 0116 242 9933.
* Help to Buy diagram courtesy of www.helptobuy.gov.uk