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If you bought your home through Help to Buy, you already know it gave you a 5% deposit, a 20% (40% in London) government equity loan, and a 75% mortgage. That equity loan was interest-free for the first five years — and then it isn’t. This page is for you if you took out a Help to Buy loan and you’re working out what comes next.
The scheme closed to new applications on 31 October 2022, so we can’t get you a new equity loan. What we can do is help you remortgage when your fixed deal ends, repay part or all of the equity loan, or just talk through your options with no obligation.
"Help to Buy isn’t a standard remortgage — it needs a lender who knows the rules. We’ve been doing these since the scheme launched in 2013, so we know exactly who to go to and what they’ll need."
If your 5-year interest-free period is approaching the end, this is the time to act. Wait too long and you’ll be paying 1.75% interest on the equity loan in year 6, rising by RPI plus 1% every year after. Most people remortgage about 6 months before that anniversary.
Every situation is different. Below are the three things people with a Help to Buy equity loan usually need to decide — and how we approach each one.
Two main routes: remortgage your main mortgage and keep the equity loan, or remortgage and repay the equity loan in full or in part. The right answer depends on your property value, your equity position, and how close you are to year 6.
We’ll show you the actual cost of keeping the equity loan past year 6 versus the cost of repaying it now. No spin, no pressure — just the numbers laid out so you can see what each option means month by month.
Not every lender will remortgage someone with a Help to Buy equity loan attached. Even fewer will lend you the money to repay it. We know which ones will, and how to package your application so it goes through first time.
