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Help to Buy equity loan redemption - valuation disputes - cladding and non-cladding disputes Target

howardmeer Posts: 38 Forumite

2 August 2022 at 8:56AM in House buying, renting & selling

Hi Forum,

Looking for advice/comments/experiences of people who have had issues with Homes England when trying to redeem their Help to Buy loans on building affected by cladding. This maybe have been a historic issue for some because in 2020 HE was allowing loan redemptions at cladding-affected valuations, then they realised the potential financial impact and changed the rules to "non-affected" valuations via their approved surveyors only, and now in 2021/22, have gone back to allowing cladding-affected values!

"Inside Housing" (and The Guardian) did report on a case in 2018 where "a woman saw her flat valued at just £50,000 because of the cladding, down from the £500,000 she bought it for" being allowed to redeem her £95k HTB loan at £10k!

I'm hoping to hear from anyone who has had this issue and dealt with Target HCA on redeeming their Help to Buy loan.

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Help to Buy equity loan redemption - valuation disputes - cladding and non-cladding disputes Target

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