01670 458730 | info@ewestates.co.uk

What is Help to Buy?

The Help to Buy scheme is a Government backed initiative that offers an equity loan where the government lends first-time buyers in England money to buy a newly built home. This must be used to buy your main residence and can’t be used to buy a second home or a buy-to-let property. You will need a deposit of at least 5% of the purchase price. You can borrow 20% of the purchase price of the property and this amount is interest-free for five years. Throughout the UK there are different caps on the value of the property that the Help to Buy loan can be used with, in the North East region this value is £186,100.

How do we reach our valuation?

To reach a figure which reflects the true value of your home or property, we must inspect the property to find out the details that mainly affect the value. This means taking measurements, photographs, and site notes so that we can accurately find comparable properties in the local and surrounding area which have sold in the last 6 months or so. We use Rightmove SCT to find these comparable properties and this allows us to adjust based on any value increasing or decreasing characteristics. After this is complete, we will then formulate your report with all the necessary information from our inspection and show in detail how we reached our final valuation figure. This figure will always be within the adjusted range of the comparable properties which we believe are most suitable for comparison to your property.

Potential issues we may encounter.

Whilst carrying out the valuation, we may encounter issues which could affect the valuation figure. These issues range from structural defects to a lack of good comparable evidence to find a value which reflects the current market price of the property. In the case of lack of evidence, we would look further away from the subject property area to find a good comparable or possibly look further into the past to find similar property sales.  If this is the case, we will adjust the valuation to reflect the new evidence.   In the case of structural problems, this has the potential to significantly affect the value of the property.  If severe structural problems are detected the property may need to undergo corrections before a lender is willing to offer a mortgage against it.

Does your property need fire doors??

Building regulations specify that fire doors must be present within the following areas of your home:

  1. Renovated domestic properties or new builds that have 3 or more storeys, including loft conversions should have fire doors to every habitable door (excluding W.C and bathrooms).
  2. Fire doors are also required if an integral garage has direct access into the domestic property.

According to the Regulatory Reform (Fire Safety) Order in 2005, property owners must ensure fire doors are fitted by a ‘competent person’ defined as ‘someone with sufficient training and experience, qualifications and knowledge to be able to implement fire safety measures (some or all) in a building’.

What is a fire door?  A fire door is a specially constructed door which increases the time for fire and flames to pass through. There are two common types of domestic fire doors which include FD30 (fire door 30 minutes) and FD60 (fire door 60 minutes). These doors are tested to resist smoke and flames for 30 and 60 minutes. Fire doors can be glass, steel, wood or pyropanel. They must be regularly inspected to ensure they are maintained and functioning properly.

The main features of a fire doors include:

  1. Less than 4mm gaps around the side and top of the door.
  2. Hinges which are a minimum size of 3mm
  3. Automatic closing mechanism
  4. Intumescent seals


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