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Help to Buy – Wales
Valuation Guidance
(Please provide a copy of this guide
to your nominated RICS Valuer
once instructed)
www.gov.wales/helptobuy
On the following pages you will nd information about Help to Buy (Wales) Limited
RICS valuation guidance for all after sales transactions that require Help to Buy (Wales)
Limited consent.
Having read this information, if you need to contact Help to Buy (Wales) Ltd at any time
please use the following contact information:
Post Completions Team
Email: [email protected]
Telephone: 08000 937 937 option 2
Fax: 029 2080 3451
2 Help to Buy – Wales Valuation Guidance
What is Market Value?
Market Value means the price (established
in accordance with current RICS Valuation
Standards) at which the sale of the property
would have been completed unconditionally
for cash consideration on the date at which
the property is valued on an arms length
sale in the open market disregarding:
a. any additions or improvements
(other than decorative improvements)
made to the property by you with
the written consent of Help to Buy
(Wales) Ltd;
b. the existing rst charge over the property
in favour of your mortgage lender;
c. any tenancy and/or any other right
of occupation affecting the property.
But assuming:
a. a willing seller and willing buyer;
b. that prior to the date at which the
property is valued the property has been
fully exposed to the market and there
has been a reasonable period (having
regard to the state of the market) for the
proper marketing of the property and for
the agreement of price and terms and for
the completion of the sale;
c. if the property or any part of it has been
destroyed or damaged it has been
fully restored;
d. the property is in good repair and
condition, well maintained and decorated
as at the date at which the property is
valued and any garden of the same has
been properly maintained and stocked
with plants and that any integral kitchen
appliances (including without limitation
any dishwasher and/or washing machine)
are in good mechanical order;
e. that no account is taken of any additional
bid by a purchaser with a special interest;
f. that both parties to the transaction have
acted knowledgeably, prudently and
without compulsion;
g. that all the covenants on your part in
the Help to Buy – Wales shared equity
mortgage have been fully complied
with; and
h. that the property will be vacant upon
the completion of any disposal of
the property.
Valuation guidelines
You must instruct your own RICS valuer
(registered member of the Royal Institute
of Chartered Surveyors) to carry out
the valuation and conrm the current
Market Value.
You should instruct the RICS valuer and
return the completed valuation report along
with the post completions instruction form.
NB: Memorandum of sale also required
when selling the property.
Following receipt of all documents
Help to Buy Wales will provide a provisional
redemption statement via email to yourself
(customer) and nominated solicitor within
10 working days of receipt.
When instructing the RICS valuer please
ensure you inform them that the following
information must be included within
the report:
• The valuer must have experience in
the valuation of residential properties
in the region.
• The valuer must conrm the Market
Value of the property as dened in this
information pack.
Updated May 2022
3
• The valuer must be registered with the
recognised qualication of RICS.
• The valuer to provide 3 comparable
properties and sale prices within the last
6 months of similar property types within
a 5 miles radius of the subject property
postcode area.
Ensuring Including:
– House number and post code
– Property type i.e Detached, terraced,
at, apartment
– Number of bedrooms (where possible)
– Date of Sale (MM/YY)
– Inspection date
This is to ensure that Help to Buy Wales can
verify the comparables provided.
NB: If there are no comparable
properties available the valuer must
provide the best available and state this
within the report.
• The valuer must not be related or known
to you and independent from the estate
agent marketing or handling the sale
and acknowledge this within the report.
• The valuer must inspect the interior of
the property and provide a full valuation
report conrming the inspection date.
NB: The report will be valid 3 months
from the inspection date.
• Valuations carried out for bank or
mortgage purposes are not acceptable.
• The report should be produced on
company headed paper and in a PDF
format or as a non-editable document.
• Signed (e-signature acceptable)
by the valuer and include the RICS
panel number.
• Help to Buy (Wales) Ltd will require
a copy of the valuation.
If the valuation report does not meet the
above guidelines, you will be required to
liaise with the RICS valuation surveyor for
rectication; any additional costs incurred
for this will be your responsibility.
Validity Period
The RICS valuation will only be valid for
3 months from the date of inspection.
If the transaction does not complete within
this time you will need to provide another
valuation at your own cost.
This further valuation can be a Desktop
Valuation from the surveyor who originally
inspected your property.
Help to Buy – Wales Valuation Guidance 4
Desktop Valuation Criteria
Desktop valuations are allowable after the
original valuation has expired.
A desktop valuation report will extend the
original report for a further 3 months.
The Valuer must be the original surveyor
from the rst inspection.
It must be conducted and sent to Help to
Buy – Wales within 2 weeks of the original
valuation expiring (where possible).
The valuer does not need to reinspect the
property, but they must make reference to
the original report and conrm the updated
report is a Desktop Valuation.
If the property has increased or
decreased in value, the Valuer must
provide at least 6 comparable properties
and sale prices within the last 12 months.
If 6 are not available the valuer must state
this clearly within the report.
The report must be on the valuers company
headed paper and in a PDF format or as
a non-editable document.
If the desktop report expires and a total
of six month has been reached and you
are yet to complete the transaction you
will need to instruct a valuer to re-inspect
your property and provide a new RICS
valuation report.
If it is considered that the valuation does
not accurately reect the market value,
HtBW will contact you and may also wish
to speak to your RICS valuation surveyor.
This may result in a revised market valuation.
HtBW have the discretion to extend
a valuation where completion is imminent
in exceptional circumstances only.
Updated May 2022
5
Help to Buy – Wales Valuation Guidance
Help to Buy (Wales) Ltd
For more information, our contact details are below:
1 Capital Quarter
Tyndall Street
Cardiff, CF10 4BZ
T: 08000 937 937
F: 029 2080 3451
www.gov.wales/helptobuy
Help to Buy (Wales) Ltd manages the Help to Buy – Wales scheme on behalf of the
Welsh Government and is authorised and regulated by the Financial Conduct Authority for
credit related activities not covered by an exemption. Help to Buy (Wales) Ltd – Registered
in England and Wales under number 8708403 at Unit J, Yale Business Village, Ellice Way,
Wrexham LL13 7YL.
Please contact us if you would like a copy of this document in large type
or Braille.
© Crown Copyright 2022, Welsh Government, WG44868, Digital ISBN 978-1-80364-416-5
Mae’r ddogfen hon ar gael yn Gymraeg hefyd / This document is also available in Welsh
Rydym yn croesawu gohebiaeth a galwadau ffôn yn Gymraeg / We welcome correspondence and telephone calls in Welsh
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