Repaying a Help to Buy Equity Loan: Steps

Quick answer

You must repay the equity loan in full when you sell, when you pay off your repayment mortgage, or at the end of the term (normally 25 years).
You repay the loan's percentage of the market value or sale price, whichever is higher, using a RICS valuation that you pay for.
You must instruct a conveyancer to handle the legal work and the repayment.
The redemption letter comes after the valuation, the application form and the £200 administration fee have been sent.

To repay a Help to Buy equity loan, you apply to Homes England's customer service team, send a surveyor's valuation and the £200 administration fee, and instruct a conveyancer. They then send you and your conveyancer a redemption letter confirming what you owe. Your conveyancer gives a legal undertaking, and the loan is repaid when you sell or remortgage.

Checked 20 October 2026, against GOV.UK's guides to repaying when you sell your home and when you remortgage. This is about the English scheme. You can no longer apply for a new Help to Buy equity loan in England.

When you must repay

GOV.UK says you must repay all your equity loan when you:

reach the end of the term, normally 25 years
pay off your repayment mortgage
sell your home

You may also be asked to repay in full if you break the terms. You can repay part or all of the loan at any other time. A part repayment must be at least 10% of the home's market value, and you cannot leave less than 5% of the market value to repay.

How much you repay

You repay the percentage of the home's value that the loan represents. If you sell, that percentage is applied to the market value or the agreed sale price, whichever is higher. The amount includes any interest, fees and arrears. You keep paying management fees and any monthly interest until the loan is fully repaid.

The steps

Instruct a conveyancer. GOV.UK says you must instruct one to carry out the legal processes, and give them authority to act for you.
Apply to repay. Complete the repayment application form and return it to the customer service team, with your account number.
Get a RICS valuation. A surveyor registered with the Royal Institution of Chartered Surveyors values the home. You pay for it. The report must be addressed to Homes England and sent in within 5 working days of the date it was issued. It stays valid for 3 months. If it runs out before you complete, a desktop valuation from the same surveyor extends it by another 3 months.
Pay the £200 administration fee. It is due when you apply. Any arrears have to be cleared or covered by an agreed payment plan.
Receive the redemption letter. After the valuation, the form, the fee and a copy of the Memorandum of Sale (on a sale) have been sent, Homes England writes to you and your conveyancer. It confirms the amount you can repay and an estimate of the repayment.
Your conveyancer gives a legal undertaking. Within 5 days of receiving it, Homes England issues an "Authority to Complete". It will not do so until you have repaid everything you owe, unless a payment plan is agreed.
Complete. Your conveyancer sends the repayment and issues a completion statement. If completion is delayed by more than a week, a new undertaking and repayment amount may be needed.
The charge is removed. After full repayment, Homes England asks HM Land Registry to remove its charge from your title.

When you remortgage

Repaying on a remortgage follows the same steps, with a few extras. You must give Homes England a copy of your new mortgage offer. If you are only part-repaying, you need Homes England's permission to switch providers or borrow more. If you repay in full, you do not need its permission.

Your new lender will usually want the equity loan charge removed from the title, so the repayment and the remortgage complete together. Our remortgage solicitors page explains our fees for a remortgage.

When you sell

On a sale, the repayment comes out of the sale price on completion, so your conveyancer usually needs the redemption letter before exchange. Our selling a house page and our guide to solicitor fees for selling a house explain what we do and what we charge on a sale.

What it costs

Homes England's costs are the £200 administration fee and the surveyor's valuation, plus any interest and management fees owed. We do not publish a fixed fee for dealing with an equity loan repayment, so we quote it separately: the extra work is written into your quote before you commit. Our standard remortgage or sale fees apply on top, and are on our fees page.

How long it takes

Allow time for the valuation and the redemption letter before your sale or remortgage date. Typically a sale takes 8 to 10 weeks (freehold) or 10 to 12 weeks (leasehold) from instruction to completion, and a remortgage typically 4 to 6 weeks, depending on the chain (on a sale), the searches, the lender and Homes England's valuation and redemption letter. Start the equity loan application as soon as you know you are selling or remortgaging, because the redemption letter is needed before completion.

If your sale falls through

If you are selling and the sale falls through, you pay our File Opening Fee (Non-refundable), £100 + VAT, and any disbursements we have already paid out on your behalf. The rest of what you have paid us is refunded, or carried over to your next property when you find one.

Questions people ask

Can I remortgage a Help to Buy home?

Yes. If you repay the equity loan in full with the new mortgage, you do not need Homes England's permission. You must give them a copy of the new mortgage offer, and the equity loan is repaid on completion of the remortgage.

Do I need a solicitor to repay a Help to Buy equity loan?

Yes. GOV.UK says you must instruct a conveyancer to carry out the legal work, because the loan is secured by a charge on your home.

How long is the valuation valid?

Three months from the date the report was produced. A desktop valuation from the same surveyor can extend it by a further 3 months.

Can I repay only part of the loan?

Yes. A part repayment must be at least 10% of the home's market value, and you cannot leave less than 5% of the market value to repay. Paying part reduces the interest charged from year six onward.

What does it cost to repay?

The administration fee is £200, and you pay for the valuation. On top of that you owe the equity loan amount, any interest, management fees and arrears.

Repaying with us

If you are selling or remortgaging a home bought with Help to Buy, contact us for a written quote that includes the equity loan work. Our new build conveyancing page explains how we handle purchases from developers.