There’s no denying that London property values can be on the pricey side. Fortunately, thanks to the government’s Help to Buy schemes, you can purchase shares or equity in a home and increment your ownership as your situation changes.
But if you’ve bought a home under a Help to Buy Scheme and want to remortgage, repay your loan or sell your property, you’ll need an independent Help to Buy Valuation report. This is a requirement by Target, the body appointed by HCA to administer the schemes.
At Novello Chartered Surveyors, we’re an independent team of RICS Registered Valuers that’s revolutionising property surveys and valuations.
We strive to be the most cost-effective, efficient and reliable team of Surveyors in London. If you want to sell a home purchased through a Help to Buy Scheme, or redeem your loan and fully understand the costs involved, give our property specialists a call.
To help people purchase a property in the Capital, the government has put a range of Help to Buy schemes in place, including:
If your household earns under £90,000 per year (£80,000 for all other areas of England), you can purchase between 25% and 75% of the shares in your home and pay rent on the remaining shares.
London Help to Buy
If you put at least a 5% deposit down on a new-build home in London, you can secure a government equity loan worth 40% of its asking price.
Help to Buy: Equity Loan
Under this scheme, you can loan 20% of your home’s asking price from the government, and you won’t pay any interest for the first five years. You’ll need at least a 5% deposit and a mortgage from a commercial lender to cover the rest of the property’s asking price.
Want to find out how much of your home’s share you’ll need to pay back and the costs involved with redeeming your loan? Call us. We’re happy to offer advice.
Our valuations provide you with an independent assessment of your home’s current market value to give you all the information you need to make informed financial decisions, whether you’re redeeming your loan or selling your property. With a Help to Buy Valuation, you can:
If you want to sell your home and still have some of your Help to Buy loan left to pay, you’ll be required to obtain a Help to Buy Valuation. For cost-effective prices and unrivalled reliability, look no further than Novello.
At Novello, we compile digital reports using the latest technology, enabling us to produce valuations efficiently and with pinpoint accuracy. From just a few hundred pounds, you could obtain a valuation in as little as three to five working days. And, you can feel confident our impartial Help to Buy Valuations are a high-value investment.
Book your valuation today using our simple contact form. Or, give us a call for more information.