A Help to Buy valuation is a RICS Red Book valuation that meets the specific requirements of Homes England (administered by Target HCA) and is required whenever you sell your Help to Buy property, pay off the equity loan or remortgage. It must be produced by a RICS Registered Valuer, use three properly evidenced comparable sales, and is valid for 3 months from the date of the report. Without a compliant valuation, the loan cannot be redeemed.
The Help to Buy equity loan scheme allowed buyers to purchase a new-build home with as little as a 5% deposit and a government equity loan of up to 20% (40% in London). When you sell, remortgage or repay the loan, the amount owed back is based not on what you originally borrowed but on the current market value of the property. That makes the valuation the single most important document in the redemption process.
Help to Buy valuation at a glance
| Feature | Detail |
| Required for | Selling, redeeming the loan, remortgaging, staircasing on Shared Ownership Help to Buy variants |
| Must be carried out by | RICS Registered Valuer |
| Standard followed | RICS Valuation Global Standards (Red Book) |
| Comparable evidence | Minimum 3 properly evidenced sales |
| Valid for | 3 months from the date of valuation |
When you need a Help to Buy valuation
A Help to Buy valuation is required in four situations:
1. Selling the property
When you sell, the equity loan must be repaid based on the agreed market value (or sale price, if higher than valuation). A RICS valuation establishes that figure.
2. Paying off the equity loan early
You can repay the equity loan at any point while keeping the property. The amount you repay is calculated as the relevant percentage (typically 20%, or 40% in London) of the current market value. A RICS valuation is required to establish what the property is worth at the point of redemption.
3. Remortgaging
If you remortgage to a new lender, most lenders require evidence of the current property value. A RICS valuation supports the application.
4. Staircasing (Shared Ownership Help to Buy variants)
Where the Help to Buy product also involved Shared Ownership, a valuation is needed when increasing your share of the property.
What Target HCA requires
Target HCA, who administer the scheme on behalf of Homes England, set very specific requirements that a valuation must meet to be accepted:
- RICS Registered Valuer. Not every chartered surveyor qualifies. The valuer must hold this specific designation.
- Red Book compliant. The report must follow the RICS Valuation Global Standards.
- Three comparables. A minimum of three recent (within the last 6 months) sold comparable properties must be included, with full evidence.
- Comparable suitability. Comparables must be similar in type, size, condition and location. Identical bedroom counts are typically required.
- Current market value basis. The valuation must be on the basis of market value.
- Validity window. The valuation must still be in date (within 3 months of the report date) at the point Target HCA processes the redemption.
A standard RICS valuation does not automatically meet these requirements. Help to Buy valuations are a specialist product with their own format.
The process step by step
- Instruct the valuer. Provide the property address, your Help to Buy reference, and any relevant documentation (original purchase price, completion date).
- Site inspection. The valuer attends the property, inspects internally and externally and measures the floor area.
- Comparable research. The valuer identifies three recent sales of suitably comparable properties and adjusts for differences.
- Report production. A Red Book Help to Buy-compliant report is produced, typically within 5 working days.
- Submission to Target HCA. You submit the report via the Target HCA portal as part of your redemption application.
- Redemption proceeds. Target HCA confirms the figure and the equity loan is repaid.
Typical pitfalls
Three issues regularly delay or derail Help to Buy redemptions.
Expired valuation reports
The report is valid for 3 months. If your sale or remortgage drags on past that window, you’ll need an updated valuation. Time the instruction so the report is still in date when Target HCA processes the redemption.
Non-compliant comparables
Target HCA reject reports where the comparables don’t meet their criteria (wrong property type, too old, too far away, different number of bedrooms). Using a valuer who knows the Help to Buy specification reduces the risk of rejection.
A valuation that comes back unexpectedly low
In a cooling market this is increasingly common. Our guide on why valuations come back lower than expected covers the main causes and your options.
Who carries out a Help to Buy valuation?
A Help to Buy valuation must be carried out by a RICS Registered Valuer experienced with the Target HCA specification. Not all chartered surveyors carry this designation, and not all RICS Registered Valuers regularly produce Help to Buy reports.
Survey Hut is based in Altrincham and our RICS Registered Valuers carry out Help to Buy valuations and other property valuations across the North West, with the format and comparables Target HCA expect.
FAQs
How long is a Help to Buy valuation valid for?
3 months from the date of the report. Critically, the report must still be in date at the point Target HCA processes your redemption, not just when you instruct the work. If the process takes longer, an updated valuation will be needed.
Can I use any RICS valuation for Help to Buy?
No. Target HCA require a Help to Buy-specific Red Book valuation with three properly evidenced comparables and a particular report format. A general-purpose RICS valuation doesn’t automatically meet the criteria.
What happens if Target HCA reject the report?
They’ll specify the reason, typically a comparable that doesn’t meet the criteria. The valuer will need to revise the report or in some cases re-inspect and reproduce it. Using a valuer experienced with Help to Buy reduces this risk significantly.