If you purchased your property in Cardiff or across South Wales using the Help to Buy Wales scheme, you'll need an independent RICS valuation at various points. As RICS registered valuers at Cardiff Surveyors, we're approved to conduct these specialized valuations and want to help you understand the process.
What is Help to Buy Wales?
Help to Buy Wales is a shared equity loan scheme that helps first-time buyers and existing homeowners purchase new build properties. The Welsh Government provides an equity loan of up to 20% of the property's purchase price, allowing buyers to secure a mortgage with a smaller deposit.
From April 2023, the scheme has specific requirements: properties must have a minimum EPC rating of B and a maximum purchase price of £300,000. Our chartered surveyors work extensively with Help to Buy Wales properties across Cardiff and understand the scheme's requirements intimately.
When Do You Need a Help to Buy Wales Valuation?
Our RICS registered valuers conduct Help to Buy Wales valuations in several situations:
1. Selling Your Property
When you sell a Help to Buy Wales property, you must repay the equity loan. The amount you repay is based on the current market value, not the original loan amount. For example, if property values have increased by 20%, your repayment will reflect this growth.
You need an independent valuation from RICS chartered surveyors to establish the current market value. This protects both you and the Welsh Government by ensuring a fair, accurate assessment.
2. Remortgaging
If you want to remortgage your Help to Buy Wales property (perhaps to get a better interest rate), you'll need a valuation. Many homeowners across Cardiff and South Wales remortgage after their initial fixed-rate period ends.
Our property valuation service ensures your remortgage application proceeds smoothly with accurate, scheme-compliant valuations.
3. Staircasing (Buying Additional Equity)
Staircasing means buying back some or all of the Welsh Government's share in your property. You can do this in stages, typically in increments of 10% or more.
Each time you staircase, you need a valuation to determine the current value of the equity you're purchasing. Our experienced team has conducted hundreds of staircasing valuations for residential properties in Cardiff.
4. Early Repayment
If you come into money and want to repay the equity loan early, you'll need a valuation to calculate the repayment amount based on current market value.
The Help to Buy Wales Valuation Process
Our valuation process for Help to Buy Wales properties follows strict guidelines set by the Welsh Government:
Step 1: Booking Your Valuation
Contact our team of chartered surveyors to arrange your valuation. We'll need details about your property, your Help to Buy Wales reference number, and the reason for the valuation (selling, remortgaging, staircasing, etc.).
We provide an online quote with transparent pricing and confirm available dates. Valuations are typically conducted within 5-7 working days of booking.
Step 2: Property Inspection
One of our RICS registered valuers will visit your property in Cardiff or across South Wales to conduct a thorough inspection. This typically takes 30-60 minutes depending on property size.
We assess:
- Property condition and any improvements made
- Local property market conditions
- Comparable sales of similar properties
- Any factors affecting value (location, condition, features)
- EPC rating and energy efficiency
Step 3: Market Research
Our chartered surveyors specialising in the local property market research recent sales of comparable residential properties in your area. This ensures your valuation reflects current market conditions accurately.
As an independent firm with no ties to estate agents or developers, we provide truly impartial advice and reliable valuations.
Step 4: Valuation Report
We prepare a detailed valuation report complying with Help to Buy Wales requirements. The report includes:
- Current market value of the property
- Methodology used for valuation
- Comparable properties considered
- Property description and condition
- Photographs
- Surveyor credentials and RICS registration
Reports are delivered in a timely manner, typically within 3-5 working days of the inspection.
Step 5: Submission to Help to Buy Wales
Once you receive the valuation report, it's submitted to Help to Buy Wales (administered by the Development Bank of Wales) along with your application for sale, remortgage, or staircasing.
Valuation Methodology for Help to Buy Wales
As RICS chartered surveyors, we use the RICS Red Book valuation standards, modified to meet Help to Buy Wales requirements. Our valuation considers:
Market Value Definition
We determine the price your property would achieve if sold on the open market on the valuation date, assuming a willing buyer and seller with no undue time pressure.
Comparable Sales Analysis
We analyze recent sales of similar properties in your area. For example, if valuing a Help to Buy property in Llanishen, Cardiff, we'd look at similar new builds in the area that have sold in the past 3-6 months.
Property Improvements
If you've made improvements (extensions, conversions, high-quality renovations), these are factored into the valuation. However, routine maintenance and decoration don't typically increase value beyond market growth.
Market Conditions
The Cardiff property market fluctuates. Our property valuation reflects current conditions, whether prices are rising, falling, or stable.
Common Questions About Help to Buy Wales Valuations
How much does a Help to Buy Wales valuation cost?
Valuation costs depend on property size and location across Cardiff and South Wales. Typical costs range from £250-500. Contact us for an accurate quote for your specific property.
This cost is separate from your equity loan repayment and must be paid regardless of the valuation result.
Can I use my mortgage lender's valuation?
No. Help to Buy Wales requires an independent RICS valuation specifically for the scheme. Mortgage valuations serve a different purpose and don't meet scheme requirements.
What if I disagree with the valuation?
If you believe the valuation is inaccurate, you can:
- Discuss concerns with the surveyor - sometimes there's a misunderstanding
- Provide additional comparable evidence
- Commission a second valuation (though you'll pay for both)
- Use the Welsh Government's dispute resolution process
Our experienced team provides thorough, well-evidenced valuations, so disputes are rare. However, we're always happy to explain our methodology.
How long is a Help to Buy Wales valuation valid?
Valuations are typically valid for 3 months. If your sale or remortgage takes longer, you may need a revaluation. Market conditions can change, particularly in active areas of Cardiff.
What if property values have fallen?
If your property is worth less than when you purchased it, you still owe the Welsh Government the percentage share they hold, calculated on current value. This means your repayment would be less than the original loan amount.
However, this also means you'll be in negative equity if values have fallen significantly. Our RICS registered valuers provide honest, accurate assessments regardless of market conditions.
Help to Buy Wales vs. Standard Property Valuations
While similar to standard property valuations, Help to Buy Wales valuations have specific requirements:
- Must be conducted by RICS registered firms (like Cardiff Surveyors)
- Follow specific Welsh Government guidance
- Include detailed methodology explanation
- Consider the shared equity arrangement
- Meet timing requirements (usually 3-month validity)
Not all surveyors are approved for Help to Buy Wales work. Our independent firm of chartered surveyors is fully approved and experienced in these specialized valuations.
Repaying Your Help to Buy Wales Loan
Understanding how the repayment calculation works helps you budget:
Calculation Example
If you bought a property for £300,000 with a 20% Help to Buy Wales loan (£60,000):
- If your property is now worth £360,000 (20% increase)
- You owe 20% of the current value = £72,000
- Your equity loan repayment has increased by £12,000
Conversely, if values fell to £270,000, you'd owe 20% of £270,000 = £54,000 (£6,000 less than the original loan).
This shared equity arrangement means you and the Welsh Government both benefit from property value increases and share in any decreases.
Properties Across Cardiff and South Wales
Our RICS registered valuers provide Help to Buy Wales valuations throughout:
- Cardiff: Llanishen, Pentwyn, St Mellons, Lisvane - all major development areas
- Vale of Glamorgan: Barry, Penarth, Llantwit Major
- Newport: Rogerstone, Langstone, Caerleon
- Swansea: Morriston, Sketty, Mumbles
- Surrounding areas across South Wales
Our knowledge of the local property market in each area ensures accurate, defensible valuations.
Why Choose Cardiff Surveyors for Help to Buy Wales Valuations?
As an independent firm of RICS chartered surveyors, we offer:
- Approved Status: Fully approved for Help to Buy Wales valuations
- Local Expertise: Deep knowledge of Cardiff and South Wales property markets
- RICS Registered: All our valuers are RICS chartered
- Fast Turnaround: Reports delivered in a timely manner
- Transparent Pricing: Clear quotes with no hidden costs
- Professional Service: Over 25 years of experience
- Impartial Valuations: No ties to developers or estate agents
Preparing for Your Help to Buy Wales Valuation
To ensure your valuation goes smoothly:
- Ensure the property is tidy and accessible
- Have your Help to Buy Wales documentation ready
- Compile evidence of any improvements made
- Note any issues affecting the property
- Be available to answer surveyor questions
- Provide access to all areas including garden
The Future of Help to Buy Wales
The Help to Buy Wales scheme is currently scheduled to run until September 2026. If you're planning to sell, remortgage, or staircase, consider timing and current market conditions.
Our chartered surveyors stay updated on scheme changes and can advise on timing considerations for your valuation.
Frequently Asked Questions
Do I need a valuation to sell my Help to Buy Wales property?
Yes. An approved RICS valuation is mandatory when selling a property purchased through Help to Buy Wales. This determines how much you must repay to the Welsh Government from the sale proceeds.
How much does a Help to Buy Wales valuation cost?
Fees typically range from £300-£500 depending on property value and location. We provide transparent quotes with no hidden costs. This is separate from estate agent valuations.
How long does the valuation take?
The inspection typically takes 30-60 minutes. We deliver the official valuation report within 3-5 working days, meeting the scheme's timing requirements.
Can I use any surveyor for Help to Buy Wales valuations?
No. You must use a surveyor approved by the Welsh Government for Help to Buy Wales work. Cardiff Surveyors is fully approved and experienced in these specialized valuations.
What if I disagree with the valuation?
The Help to Buy Wales scheme has a disputes process. However, our valuations are thorough, evidence-based, and in line with RICS standards, minimizing the likelihood of disputes.
Does staircasing require a valuation?
Yes. When buying additional shares in your property (staircasing), an approved RICS valuation determines the current market value and therefore the cost of the additional equity.
Book Your Help to Buy Wales Valuation
Whether you're selling, remortgaging, or staircasing, Cardiff Surveyors provides professional Help to Buy Wales valuations across Cardiff and South Wales.
Our RICS registered valuers deliver accurate, scheme-compliant valuations with excellent service. We understand the importance of this transaction and provide reliable valuations you can trust.
Contact our experienced team today for your online quote. We're here to help with all your Help to Buy Wales valuation needs across Cardiff, Newport, Swansea, Vale of Glamorgan, and all surrounding areas of South Wales.
Regulated by the Royal Institution of Chartered Surveyors. Providing professional guidance and reliable valuations for property investors, homeowners, and first-time buyers since 1998.