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Help to Buy remortgage options

There are a number of options available to you, depending on whether you’re looking at paying off your Help to Buy: Equity Loan or not.

Option 1

Remortgage and repay all of the equity loan

If you want to exit the Help to Buy scheme, you can remortgage your current property and increase the total amount you borrow to pay off the entire equity loan. If this is the option for you, take a look at our standard remortgage rates.

Remortgage rates

Option 2

Remortgage and repay part of the equity loan*

If you’re unable to repay the entire equity loan, you can remortgage your current property and increase the total amount you borrow to repay part of it. This is also known as staircasing. If this is the option for you, take a look at our Help to Buy remortgage rates.

Help to Buy remortgage rates

Option 3

Remortgage and keep the equity loan*

If you’re unable to repay the equity loan in full or in part, you can keep the equity loan as it is and remortgage what is left of your current mortgage balance. If this is the option for you, take a look at our Help to Buy remortgage rates.

Help to Buy remortgage rates

*Certain requirements must be met in order to partially repay or keep the equity loan



Important information



Repay all of the equity loan
  • You need to meet our standard lending criteria
  • Your Loan to Value (LTV) must not exceed 90%
  • To calculate the amount required to repay all of the equity loan, you will need to have your current property valued by a RICS (Royal Institute of Chartered Surveyors) Certified Surveyor
  • A £200 administration fee is payable to Homes England for redeeming the entire equity loan
Repay part of the equity loan
  • You need to meet our standard lending criteria
  • Your Loan to Value (LTV) must not exceed 75%
  • You will need consent from Homes England
  • The minimum voluntary part repayment of the equity loan is 10% of the market value of your property at the time of repayment
  • To calculate the minimum amount you can repay part of the equity loan, you will need to have your current property valued by a RICS (Royal Institute of Chartered Surveyors) Certified Surveyor
  • A £200 administration fee is payable to Homes England for partially repaying the equity loan
Keep the equity loan
  • You need to meet our standard lending criteria
  • Your Loan to Value (LTV) must not exceed 75%
  • You will need consent from Homes England
  • The new loan must not exceed the existing loan amount with your current lender without prior agreement from Homes England
  • The mortgage term must not exceed the term of the existing mortgage. For example, if you are remortgaging a 25 year mortgage which is five year into the term, the new mortgage cannot exceed 20 years
  • A £115 administration fee is payable to Homes England for keeping the equity loan



Useful contacts

Target: The administrators of Help to Buy accounts who will help with any queries you may have about your equity loan.

Website: www.myfirsthome.org.uk

Royal Institute of Chartered Surveyors (RICS): Find a RICS certified surveyor in your area and arrange a survey.

Website: www.rics.org/uk

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP PAYMENTS ON YOUR MORTGAGE.

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