Key takeaway: Thousands of people across Bolton and the surrounding areas used the Government's Help to Buy equity loan scheme to get on the property ladder. Now many are selling, remortgaging, or repaying the equity loan — and they need an independent RICS valuation to do so. Here's everything you need to know about the process.
What Is the Help to Buy Equity Loan?
The Help to Buy equity loan scheme allowed buyers of new-build homes to purchase with a 5% deposit. The Government lent up to 20% of the property value (40% in London) as an interest-free loan for the first five years. After five years, interest charges began to accrue on the equity loan portion.
The loan is repaid as a percentage of the property's value — so if the property has increased in value since purchase, the amount owed will be higher than the original loan sum. This is the source of many a surprise when homeowners come to repay.
When Do You Need a Help to Buy Valuation?
You'll need an independent RICS valuation when:
- Selling the property — the equity loan is repaid from the sale proceeds. The valuation establishes the current market value and therefore the equity loan repayment amount.
- Staircasing (partial repayment) — if you want to repay part of the equity loan without selling, you need a valuation to determine the current value and calculate how much you'd need to pay.
- Remortgaging — many lenders require a RICS valuation when you remortgage a Help to Buy property.
- Full redemption — paying off the entire equity loan requires a formal RICS valuation to calculate the redemption amount.
Why Does the Valuation Need to Be RICS?
The Help to Buy agent (Homes England or your local Help to Buy agent) specifically requires a valuation from an RICS-regulated surveyor. An estate agent's opinion or a mortgage lender's valuation will not be accepted for Help to Buy purposes.
This requirement exists because the Government has a significant financial interest in the outcome — the equity loan repayment is directly linked to the valuation figure. An RICS-regulated valuer provides the independence, professional standards and accountability that the scheme requires.
How Does the Help to Buy Valuation Process Work?
- You contact Bolton Surveyor and provide your property address and the purpose of the valuation.
- We confirm we're on the Homes England approved panel and provide a clear, fixed-price quote.
- We inspect the property — usually within 3–5 working days of instruction.
- We research comparable sales of similar properties in the Bolton area.
- We deliver the RICS valuation report, typically within 3 working days of inspection.
- You submit the report to your Help to Buy agent as part of the redemption or staircasing application.
What If I Disagree with the Valuation?
If you believe the RICS valuation is too high — resulting in a larger equity loan repayment than expected — you have the right to obtain a second valuation. The Help to Buy agent will typically use the average of the two values. If you're considering challenging a valuation, speak to us first — we can advise on whether the original figure appears reasonable given the current Bolton market and comparable evidence.
A note from the field: Help to Buy clients are often surprised to find their equity loan has grown significantly. If you bought a new-build terrace in Horwich in 2018 for £190,000 with a 20% Help to Buy loan, you borrowed £38,000. If that same property is now worth £240,000, you owe 20% of £240,000 — which is £48,000. The valuation matters a great deal, which is why accuracy and professional rigour are so important.
Important timing note: Help to Buy valuation reports are typically valid for 3 months. If your transaction takes longer than 3 months to complete, you may need a fresh valuation. Plan ahead and don't leave the valuation until the last minute.
Frequently Asked Questions
How much does a Help to Buy valuation cost in Bolton?
Our Help to Buy valuation fees are competitive and transparent. Contact us for a quote specific to your property — we'll provide a clear, fixed-price fee with no hidden extras. Most Help to Buy valuations for properties in the Bolton area are completed for a reasonable flat fee that reflects the work involved.
Are you on the Homes England approved surveyor panel?
Yes. Bolton Surveyor is RICS-regulated, and our valuers are qualified to provide Help to Buy valuations accepted by Homes England. All our Help to Buy reports are prepared to RICS Red Book standards as required by the scheme.
How long is a Help to Buy valuation valid for?
Help to Buy valuation reports are valid for 3 months from the date of the inspection. After 3 months, a new valuation will be required. In an active market, the property value could change significantly in that time — so it's important to time the valuation to coincide with your planned completion date.
Need a Help to Buy valuation in Bolton? Bolton Surveyor provides fast, professional and RICS-compliant Help to Buy valuations across Bolton, Horwich, Westhoughton and the wider North West. Get in touch for a free quote today.
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