reallymoving launches valuations service for Shared Ownership and Help to Buy

Buyers who have used the Government’s Shared Ownership scheme require an up-to-date valuation when they come to sell or if they wish to staircase, that is buy an additional share of the property, in order to ascertain the current market value. It will become increasingly important for homeowners to conveniently access and arrange residential surveys from April 2021 when the new Shared Ownership model is introduced, allowing owners to staircase in increments of 1%, rather than 5% or 10% currently.

Similarly, buyers who have used the Help to Buy Equity Loan scheme require a new independent valuation if they wish to pay off part or all of the loan, or if they wish to sell the property, since the amount they pay back is based on the current market value.

Alongside price comparison tools for conveyancing, surveying, removals and EPCs, the new valuation service will allow users to compare the fees of up to 4 RICS-regulated Chartered Surveyors in their local area, from a panel of experienced professionals.

Reallymoving CEO Rob Houghton said: “Demand for valuations is on the up, driven by changing rules around the staircasing of Shared Ownership properties and the growing number of Help to Buy Equity Loans approaching the end of their interest-free period. We also anticipate a rise in the volume of First Time Buyers returning to the market this year and our data tells us around xx% will use a government scheme to help them on the ladder.

“Launching a comparison service for valuations is a natural progression for reallymoving and we’re delighted to deliver even more high-quality leads to our surveying partners.”