Redeem your help to buy loan
If you purchased your home with a Help to Buy equity loan, you’ll need to repay it in full or part at some stage. This can be done using personal funds, inheritance, or through a remortgage. Our experienced conveyancing team will guide you through every step, from arranging a RICS valuation to obtaining your Redemption Statement and completing the legal process. We also assist if you’re redeeming as part of a property sale. With local offices and a personal approach, Amicus Law ensures your redemption is handled smoothly and efficiently.
Your trusted conveyancing experts
We make Help to Buy loan redemption simple and stress-free. Our team handles all legal requirements, ensuring compliance and timely completion.
The stages of redeeming your help to buy loan
Thinking about repaying your Help to Buy loan? Here’s a clear step-by-step guide to help you navigate the process smoothly, whether using savings, inheritance, or a remortgage.
Decide How You Will Repay
You have the flexibility to repay your Help to Buy Loan using your own funds, such as savings or inheritance, or through a remortgage.
If you choose to redeem through a remortgage, the initial step involves consulting with your mortgage advisor or lender to secure a mortgage offer or the necessary funds.
Arrange a RICS Valuation
You will then need to arrange for a Royal Institute of Chartered Surveyor (RICS) Valuation to be completed on your property to enable you to obtain the Help to Buy Redemption Statement.
You’ll be responsible for arranging and covering the cost of this valuation.
Submit Documents to Help to Buy
Once you have the valuation report, you’ll need to submit it to Help to Buy along with their completed form and payment for their administration fee.
Keep in mind that both the valuation and the Help to Buy Redemption Statement are only valid for three months from the valuation date.
Ensure Funding is in Place
We recommend that you ensure you have all necessary funding in place to redeem your loan, before you obtain the Valuation, to avoid any issues i.e. the Redemption Statement expiring ahead of your funding being sorted.
Access Government Guidance and Forms
For detailed guidance on repaying your equity loan and accessing the relevant forms, please refer to the following links:
Final Steps with Your Solicitor
Once your mortgage offer (if applicable) and the Help to Buy Redemption Statement has been issued to us, we can then review the same and complete the necessary steps in obtaining your funds and dealing with the redemption on your behalf.
More information on this process will be provided to you as part of your instruction with us.
Why choose amicus law?
Our dedicated conveyancing team offers expert advice and a personal approach to Help to Buy loan redemption. With local offices and CQS accreditation, we ensure your process is smooth, compliant, and stress-free.
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