Cashback Remortgages · Buying across the UK
Help to Buy: What Happened and What's Next
The Help to Buy equity loan scheme has closed to new applicants, but many homeowners still have an equity loan to manage. There are practical points for them and for new buyers.
If you have an equity loan
Existing Help to Buy equity loans still need managing — interest becomes payable after an initial period, and the loan is repaid on sale or by staircasing, based on the property's value at the time. Remortgaging with an equity loan in place needs a lender that accepts it.
Repaying or reducing the equity loan involves a valuation.
Alternatives for new buyers
New buyers now look to shared ownership, savings products like the Lifetime ISA, or higher-LTV mortgages. Check current schemes and eligibility.
Sources and further reading
General mortgage information, not a personal recommendation. Lender criteria and scheme rules can change. Ask an adviser about your circumstances and a solicitor or tax adviser about legal or tax questions. Your home may be repossessed if you do not keep up repayments on your mortgage. Most buy-to-let mortgages are not regulated by the FCA.
Discuss the next step for your mortgage
Understand your options before you make a decision.