Help to Buy Valuations: What You Need to Know

If you purchased your home through the Help to Buy equity loan scheme and you're now looking to repay the loan — whether because you're remortgaging, selling or simply want to buy out the government's equity share — you'll need a formal RICS valuation.

I'm Sarah Okafor, a RICS surveyor at Barnet Surveyors and our specialist in Help to Buy and shared ownership valuations. Here's everything you need to know about the process.

Why Do You Need a RICS Valuation for Help to Buy?

The Help to Buy equity loan scheme was designed to help first-time buyers onto the property ladder by lending up to 20% of the property's value (40% in London) interest-free for the first five years. When you repay the loan — whether in whole or in part — the repayment amount is calculated as a percentage of the property's current market value, not the original purchase price.

This means you need an independent, professional assessment of what your property is worth today. Homes England (which administers the scheme) requires this valuation to be carried out by a RICS-registered valuer in accordance with RICS Red Book standards. They won't accept a valuation from a non-RICS-regulated firm, an estate agent's appraisal or an automated valuation model (AVM).

What's Involved in a Help to Buy Valuation?

The process is straightforward:

1. Book the valuation — Contact us with the property address and your target date. We aim to book within 3–5 working days.
2. The inspection — One of our RICS-registered valuers visits the property for a thorough inspection. This typically takes 45 minutes to 1.5 hours.
3. The report — We prepare a formal RICS Red Book-compliant valuation report. You'll receive this within 2–3 working days of the inspection.
4. Submit to Homes England — You (or your solicitor) submit the valuation to the Help to Buy agent. The valuation is valid for 3 months from the date of inspection.

How is the Help to Buy Valuation Different from a Standard Valuation?

The key difference is that a Help to Buy valuation must follow specific RICS Red Book guidance and meet the requirements set out by Homes England. The report format, methodology and content must comply with the current Help to Buy Agents' requirements — which differ slightly depending on which Help to Buy agent (previously known as Help to Buy Ltd) is administering your loan.

Our surveyors are experienced in preparing Help to Buy valuations that are accepted first time by all Help to Buy agents. A poorly prepared valuation can be rejected, causing delays to your sale or remortgage — so getting it right matters.

How Much Does a Help to Buy Valuation Cost in Barnet?

Our Help to Buy valuations start from £250 + VAT. The exact cost depends on the size and location of the property. We can usually quote within a few hours of you contacting us.

Note that all prices are exclusive of VAT at the standard rate. So a £250 valuation would be £300 inclusive of VAT.

What If I Don't Agree with the Valuation?

If you feel the valuation is too high, you have the right to commission a second valuation from a different RICS-registered valuer. If the two valuations differ by more than 10%, Homes England may commission a third "independent" valuation. In practice, well-prepared RICS valuations by experienced local surveyors rarely result in significant disputes.

From our experience, the most common reason valuations are challenged is when the initial valuation doesn't adequately account for recent comparable sales in the specific area — which is exactly why using a local RICS firm with genuine knowledge of the Barnet and North London market makes such a difference.

Frequently Asked Questions