HELP TO BUY VALUATIONS – administration of Help to Buy loans

[Leslie J Long FISVA]

We have learned that administration of Help to Buy loans is now being handled by a new organisation called Lenvi.

These loans had until recently been dealt with by Target, in our areas of Essex & South Suffolk (CO, CM, SS, RM, IG & IP postcodes), and we have produced hundreds of those reports for Target in the past years.

We have emailed Lenvi today requesting details of any changes in the way valuers must provide such reports, at – customerservices@myhelptobuyloan.co.uk –  we have had an acknowledgement, and are now awaiting a reply.

Are any members aware of that changeover, and have you any information as to Valuation requirements? This form of work is an important income stream to us.

• This topic was modified 9 months, 3 weeks ago by Leslie J Long FISVA.

[David Evans FISVA]

Hi Leslie,

I have carried out over 100 of these reports and have submitted ones through the client recently and not had any thrown back.  I can only assume there is no change to the format. If I get further feedback of any kind I will add it to this forum.

Similarly if you get any feedback I would be interested.

Regards

David

[Ian Vicary FISVA]

Leslie & David,

Thanks for looking into this matter. I look forward to any further updates.

KR

Ian V

[Richard Harmer FISVA]

Hi Leslie,

Have been doing these since pre Target – completed numerous since the change to Lenvi or Homes England. Not much changes but the report needs to be addressed to Homes England somewhere.

They have introduced that the property must be inspected internally – which is good to see as I have come across a number of the on-line companies doing reports with no inspection.

They have also introduced a 30 day letter – This applies only if the completion , mortgage or otherwise, is to be within 30 days of the report expiry. The desktop still remains. I do charge clients for this 30 day letter as well as the desktop. There is still confusion on the dates they take – Target bounced from inspection date to report date. Not sure yet on Homes England.

Have completed thousands of these reports since I was originally nominated by Metropolitan – pre Target – as one of the recommended surveyors before the referral to Find a  Surveyor. Sometimes it just depends on who answers the phone for the Administrators. I use the same report format as before – just re-addressed to Homes England – and not had any issues  (yet).

Have emailed them straight after the change and since but never had a reply.

Hope this helps.

Richard.

[David Wheeler MISVA]

I had heard about the change but have seen no information about any revised requirements.

David

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