Help to Buy (Target)

Target has been appointed as a company by HCA to handle your redemption on their behalf.

Help to Buy (Target)

In order to assist you with your redemption on behalf of the Housing and Communities Agency (HCA), Target has been appointed as a company by HCA to handle your redemption on their behalf.

Your Redemption will be subject to a RICS Help to Buy Valuation carried out by a RICS Registered Valuation Surveyor as part of the Redemption process with Target HCA. In order for your Help to Buy loan to be repaid, Target requires the Help to Buy valuation to be performed in order to establish the Market Value of your property.

There are some strict criteria for a Help to Buy valuation, and Target HCA will reject a valuation report that is incorrect or incomplete.

As and when your funds become available, the Home and Communities Agency (HCA) will liaise directly with your Solicitor in regards to redemption figures. As and when you receive your funds, your Solicitor will have the responsibility of overseeing a repayment process when these funds become available, whether by selling the property, remortgaging or making a repayment. Depending on whether your original scheme involved a contribution from the builder, for example First Buy or HomeBuy, the administrator will be in touch with them regarding the valuation of your property.

Based on our experience in helping to redeem Help to Buy valuations, the following are the details of the procedures we recommend based on our experience in helping to redeem Help to Buy valuations.

You should not have a valuation completed on a property before you have agreed to an offer on the property if you are planning to sell it. By doing this, you will be able to get the most use out of the validity period of the valuation, which is three months.
A valuation report is often requested at an early stage of the remortgage process by Financial Advisers and Lenders. We recommend that you follow the re-mortgage principles as far as possible before requesting a valuation for the redemption of your property or commissioning a valuation for the re-mortgage process.

How does a Help to Buy valuation work?

It is very similar to a mortgage valuation, where we visit your home and use our local market knowledge to put a value on your home based on the information we gather about your home. The research will be done to determine the values of similar properties and market conditions will be taken into account when doing so.

How long does it take?

In most cases, we are able to visit Help to Buy valuations within 2 working days and sometimes even sooner, depending on the location and availability of the agent. A copy of the inspection report will be sent to you within 48 hours of the inspection taking place, and the inspection itself will take less than 1 hour.

What is the validity period of the Valuation?

Please keep in mind that it is only valid for a period of three months. As a result, we will need to reconfirm the valuation after a certain period of time and if it has not been done within 6 months, we may need to perform a new report. In addition to that, the longer you leave it, the more likely your property is to appreciate in value, which will lead to a higher Help to Buy valuation.

What do we do with it?

Your estimated repayment quote will be sent to you once you have successfully submitted a valid Help to Buy valuation report. Your solicitor will use this information to calculate an accurate final repayment amount based on any arrears and interest rate.

It’s more than just a valuation

At the end of the report, you will find a section called ‘Issues for your legal advisors’ that summarises all matters that need further investigation by your solicitor or conveyancer. When filling out the property questionnaire, the current owner has a duty, to be honest but statements that cannot be verified independently should not be relied upon.

There might be a number of potential legal questions that could be raised in a Homebuyer Report, such as any ambiguity regarding ownership of outside space and access rights, off-street parking, the physical boundaries, and documentation pertaining to extensions and alterations (both to the subject property as well as to neighbouring properties). Including guarantees and warranties, as well as proposed work to high-level roofs that could not be inspected.

A Help to Buy Valuation Report is a complicated document that we prepare on your behalf.

The following are included:

The surveyor’s professional opinion of the property’s ‘market value’
A list of all the features in the Condition Report
The surveyor’s assessment of the property’s potential problems
An insurance reinstatement figure for the property

Recommendations for repairs and maintenance
Investigations needed to prevent serious damage or dangerous conditions
Legal issues that need to be addressed before completing your purchase; and
Information about the location, the local environment, and the recorded energy efficiency (where it is available)

There are several reasons why you might need a Help to Buy Valuation Report.

When paying back your equity loan, you have two options; Full Redemption and paying your equity loan back in full with or without selling your property, or Partial Redemption, also known as Staircasing, where you pay back part of your equity loan without selling your property.

If you would like to know more about the complete process and documentation required for either of these options, please refer to the Target HCA Customer Information Pack.

Redeem when you sell.

Upon selling the property against which your loan is secured, you will be required to repay your loan in full at that time. The process is also called loan redemption.

The repayment amount you will be required to pay is calculated as a proportion (percentage) of either the current market value or the agreed sale price of your home. Whichever is higher will be chosen, for example, if you have sold your property for £200,000 and the RICS valuation for redemption considers the value to be £210,000 then the HCA will accept the latter figure. If the RICS valuation for redemption is £190,000 then the HCA will consider the agreed sale price at £200,000.

Staircasing with another loan.

As a result of this scenario, you will be looking to repay part of your loan (redeem) by taking out another loan secured on your property from another lender in order to repay your current loan in part.

Staircasing without a loan.

As above, you will be looking to repay part of your loan (redeem) by taking out another loan secured on your property from another lender in order to repay your current loan in part

Residential Valuations across Tyne and Wear

As RICS-registered valuers, we provide accurate, independent and professionally prepared building valuations across Tyne and Wear. Our valuations are carried out in accordance with current RICS standards and are suitable for a wide range of formal and statutory purposes, including:

Help to Buy and Shared Ownership
Probate and Inheritance Tax matters
Matrimonial or Divorce proceedings
Insurance Reinstatement Costings and assessments
Re-mortgaging and Independent Valuations
Independent Asset Valuations

All valuations are carried out to RICS standards, ensuring professionalism, accuracy, and reliability.

Why Choose Andrew James Property Surveyors in Tyne and Wear?

RICS-Accredited Expertise: Our reports and property valuations meet the highest professional standards.
Regional Knowledge: Based in the North East, our surveyors have extensive experience across Tyne and Wear’s varied residential property market, from period homes to modern developments.
Personal Service: Our surveyors maintain a small case load, so every client receives prompt attention and detailed care.
Post-Report Review Call: Every client benefits from a personal follow-up call with the surveyor to discuss findings and next steps.
Clear and Understandable Reports: No jargon – just transparent insights you can act on.
Impartial Advice: We work solely for you, our client.

Whether you are purchasing your first home, expanding your Tyne and Wear property portfolio, or preparing a property for sale, we provide the clarity and reassurance needed to make informed decisions.

GET A QUOTE NOW!

What Our Clients Say

“We chose Andrew James Property Surveyors based on their excellent reputation. In a very short timeframe after contacting them, they scheduled a Homebuyers Survey (Level 2) for a price we considered to be very reasonable. Within 5 days of completing the survey, they sent a detailed report that was easy to understand and clearly outlined the areas to focus on for us and our solicitors. I couldn’t have asked for a better service. Andrew James Property Surveyors is definitely a company I would recommend.”
— Mr Alan B

“Exceptional service. We booked to have a Level 3 survey and valuation done on a property we were hoping to purchase. Both the survey and valuation were very thorough and I felt like no stone was left unturned. Andy was amazing, calling the same day the reports were issued to help understand the conclusions, plus we knew we could call if we had any further queries. We felt like we were in very safe hands and that we’d really been looked after. What a great team! Will definitely use them again.”
— Jane Paterson

Frequently Asked Questions

Do I really need a building survey?
Yes – even newer homes can hide issues that aren’t visible during a viewing. A professional survey gives you peace of mind and leverage in negotiations.

Which survey level should I choose?
For modern properties in good condition, a Level 2 Home Buyers Report is often sufficient. For older homes, listed buildings, or properties with extensions, a Level 3 Building Survey is recommended. We’re happy to advise on the best option.

Are your valuations accepted by lenders and official bodies?
Absolutely. As a RICS-accredited practice, all our valuations meet the required professional standards and can be used for official purposes.

How quickly will I receive my report?
We aim to deliver reports within five working days of inspection – and we’ll call you personally to explain the findings.

Pricing and Quotes
Every property is unique, so we provide tailored quotes based on the type, age, and location of the building. You’ll receive a clear, all-inclusive price before we begin, with no hidden fees. For an accurate quote, simply contact us using the details below.