Help To Buy Mortgages
Although the Help to Buy scheme has now closed in England and Scotland, it’s still available in Wales.
Our mortgage advisors can guide you through your options, whether you are buying, selling, or remortgaging a Help to Buy property.
About Help to Buy Mortgages
The Help to Buy scheme was introduced to help people buy a home with a smaller deposit, using an equity loan from the government. The scheme is now closed to new applicants in England and Scotland, but it remains open in Wales for eligible buyers.
If you bought your home through Help to Buy, you might now be thinking about remortgaging, repaying your equity loan, or selling your property. Each step involves specific lender and government requirements. For example, you’ll need to arrange a valuation before repaying your loan, and some lenders have particular rules for remortgaging a Help to Buy property.
At Online Mortgage Advisor, we have mortgage advisors who understand how Help to Buy works. Whether you are applying in Wales or managing an existing equity loan from England or Scotland, we can guide you through the process and help you find the right mortgage deal.
“The Help to Buy scheme may have closed everywhere except Wales, but we still regularly help homeowners who bought through it. From remortgaging to repaying your equity loan, our advisors can guide you every step of the way.”
Selling a home bought through the scheme
You’ll need to pay off the government equity loan when you sell your home. The amount you owe is not necessarily the amount you borrowed. If you borrowed 20% of the property’s purchase price, you owe the government 20% of the selling price of the property.
For example, if you bought the property for £200,000, with an equity loan of £40,000, and you are selling the property for £220,000, you owe the government £44,000. Your house has increased in value by 10%, so the repayment due has increased by 10%, too.
When you want to sell your home, you’ll need to notify Target, the agency that handles administration for HCA, the organisation that provides the loan. You’ll need to arrange a surveyor’s valuation and send this to Target, along with the offer you’ve received. You’ll pay an admin fee of £200.
Remortgaging after Help to Buy
Remortgaging a home you bought with Help to Buy can be difficult. Few lenders offer Help to Buy remortgage deals, particularly if you have not yet paid off your equity loan. Those that do might charge higher fees and rates to Help to Buy customers. You must also pay a remortgage fee of £115 to the Help to Buy scheme.
So, you’ll need to consider whether remortgaging outweighs the costs of sticking with your current mortgage once it has been deferred to your lender’s standard variable rate. This math can be complicated, so you may want to ask a broker for their expert opinion.
See our dedicated article on remortgaging after using a Help to Buy scheme for more information.
Check your affordability
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Read our guides
If you’re in Wales, read our guide on the active Help to Buy Scheme there. Alternatively, you can find a wealth of helpful information on our site.
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Speak to an expert
Get matched with a mortgage advisor who understands Help to Buy mortgages and can guide you through your next step.
Our advisors understand Help to Buy mortgages in England, Wales, and Scotland. Whether you are remortgaging, repaying your equity loan, or applying through Help to Buy Wales, we can help you.
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Frequently Asked Questions
Still have questions about mortgages, rates, or the application process? Our comprehensive FAQ section covers everything from first-time buyer queries to complex remortgage scenarios.
The Help to Buy scheme is only available in Wales. It is not available in England or Scotland. Our advisors can guide you through the application process if you are in Wales.
Help to Buy Wales allows buyers to purchase a new-build home with a 5% deposit and an equity loan of up to 20% from the Welsh Government. The scheme remains open for qualifying buyers.
If you purchased your home through Help to Buy, you can still remortgage, sell your property, or repay your equity loan. You may need an independent valuation and approval from Homes England or the relevant government body before completing the process.
While there is no direct replacement for the scheme, several alternative schemes are available, including Shared Ownership, the First Homes scheme, and the Mortgage Guarantee scheme.
No, you can’t buy a second property while you still own a home purchased through the Help to Buy scheme. One of the key conditions of the scheme is that the property must be your only residence, so you can’t own another home or use it as a buy-to-let while you still have a Help to Buy equity loan in place.
If you want to move or buy another property, you’ll need to sell your Help to Buy home and repay the government loan first. Once that’s done, you can apply for a standard mortgage on your next property.
When your equity loan term ends, or when you sell your home, the loan must be repaid. You can also repay it early, in full or in part, and our advisors can help you find a suitable remortgage to cover the cost.
Help to Buy Scotland has closed and is no longer accepting new applications. Existing participants can still manage their equity loans, including remortgaging, repaying, or selling their property.
We make the mortgage process simple and manageable, whatever your situation. Our advisors handle both straightforward and complex cases, giving you certainty about your options and confidence in your next steps.
You will have a dedicated expert and case manager by your side from your first question through to completion, with regular updates so you always know what’s happening. We also give you the benefit of a one-stop experience by connecting you with trusted partners for conveyancing, insurance, and more.
This way, you get clear answers, everything taken care of in one place, and peace of mind that your mortgage is sorted.
A mortgage advisor will search the market for you and recommend the best deal based on your situation. They do more than compare rates. They understand lender criteria, manage the paperwork, and know how to get complex cases approved.
With expertise in specialist mortgages and strong lender relationships, they save you time, reduce the risk of rejection, and often access deals not available directly.
Online Mortgage Advisor is an FCA-authorised mortgage broker serving customers nationwide. We secure the best deal with help from a specialist in situations like yours.
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