If you enrolled in an equity loan either with the Help to Buy Scheme, a Housing Association, Developer or Private Corporation and you wish to redeem this loan, then you will need to instruct the services of a RICS Registered Valuer to independently value the property. We meet all conditions as required for such valuation reports including those stipulated by Target HCA.

We always list at least 3 comparables so that the reader can see examples of reasoning behind the figure adopted.

It is often stipulated that a RICS Registered valuer must complete the valuation of a property with a third party charge in order that it is accepted by the other parities in the contract. As the seller, or party wanting to redeem the loan, you are responsible for the cost of this valuation. RICS, The Royal Institution of Chartered Surveyors is the professional body that regulates the property and construction industry.

Validity of valuations

Valuations are usually deemed valid for 3 months so you should ensure you’re in a position to move forward with a sale or proceedings within that time frame or you will have to pay for a desktop valuation (reduced fee and without a re-visit) if the same surveyor is available to undertake this, and if there have been no significant changes to the property. You must however check the wording of your equity loan as some providers will have key timescales that must be met otherwise you will have to pay for a full re-valuation upon expiry.

In summary, the valuation you receive prior to redeeming your loan needs to be conducted by a qualified Chartered Surveyor and RICS registered valuer with experience of the local property market to be sure it meets the requirements of all parties in the agreement.

Bartley West Limited have been specialist residential valuers across the South since 2012 and all valuations are undertaken only by a fully qualified MRICS RICS Registered Valuer with the knowledge and expertise needed to undertake the work for you.