What is a Staircasing valuation for Help to Buy? Staircasing valuation is the term used by Target and a number of Housing Associations for the repayment of the Help to Buy loan or Shared Equity loan – without the sale of the property.
Target refer to their Form B as a Staircasing redemption. This means paying back the Help to buy loan with either private funds or re-mortgage. This will require a Help to Buy valuation for Staircasing to be carried out by an RICS Registered Valuer.
With Housing Associations, the same principle applies although it would be defined as a Staircasing valuation for either the purchase of the remaining or part equity of the shared ownership property.
When selling a Help to buy property you will need a Help to buy valuation in the same way as the staircasing valuation– it follows the same principle for the Target redemption other than using the required Target Form A for submission.
Help to buy valuations are required for both the staircasing process and the resale process. Both require an RICS Registered valuer to be instructed. As the Target redemption requirement for valuation is quite specific, we would advise you to consider a surveyor with Help to Buy experience.
If we cannot help then Target will refer you to ricsfirms.com which will allow you to find a surveyor locally for your help to buy.