Help to Buy Redemption Solicitors
Help with repaying a Help to Buy equity loan, including Homes England application, redemption, and assisting Homes England with the discharge registration.
Help to Buy Mortgage Redemption
At Mounteney Solicitors, we support clients looking to ‘redeem’ or repay a Help to Buy equity loan. We handle the full legal process, from the initial application to Homes England through to completion and payment of the client’s funds to Homes England, including liaising with all parties, preparing the legal documents, and ensuring the loan is properly discharged.
Help to Buy was introduced as a Government scheme to support first-time buyers in purchasing newly built homes. The scheme involved the Government lending part of the purchase price as an equity loan, meaning the loan amount was linked to the value of the property rather than a fixed sum. Although the scheme has now closed in England, many of these equity loans remain active and need to be dealt with when owners sell, remortgage, or choose to repay.
Redeeming a Help to Buy loan involves steps different to redeeming a typical mortgage. The process requires a formal valuation of the property, time-sensitive paperwork, and approval from Homes England before funds can be released. We manage much of this on your behalf, including submitting your application, responding to Homes England’s instructions, giving the required legal undertakings, preparing the discharge form, and ensuring all Source of Funds checks are completed.
We understand that this process can feel slow and paperwork-heavy. Our role is to keep everything moving forward, minimise delays where possible, and keep you informed throughout.
If you are planning to repay your Help to Buy loan and need a solicitor to guide you through the process and meet Homes England’s requirements, get in touch with our team today.
Conveyancing Estimate
Our Team of Specialist Help To Buy Solicitors
Money Matters
Help to Buy was in England, and remains in Wales, a Government scheme to help first-time buyers buy property. The Government would lend part of the cost of a new-build home as an ‘equity loan’, with a commercial lender making up the rest of the funding with a traditional loan. Tens of thousands of Help to Buy mortgages remain in place, and so have to be dealt with in conveyancing from time to time.
‘Equity loans’ give the relevant authority a share of the property, rather than a fixed amount of financial stake in it. The administration of the redemption of ‘equity loans’ is much more complicated than for a money-loan because there needs to be a valuation of the property, and that valuation figure is likely to be time-limited to three months.
Help to Buy Mortgage Redemption (£600)
We’ll start by understanding your situation and explaining your options. Once you’re ready to proceed, we’ll take care of everything: submitting your application to Homes England, working through their requirements, providing our letter of undertaking, preparing your discharge documentation, and handling all funds securely (including the required source of funds checks).
We’ll keep you updated at each stage so you know exactly where things stand.
Your supplier is CLC-regulated Mounteney Conveyancers Ltd, that charges VAT some customers may be able to reclaim
There is more info about our fees here
If you have any questions, require any further information, or would like to engage us on the T&Cs linked Our Terms in the footer below, please don’t hesitate to Contact Us.
Conveyancing Estimate
Contact us to Repay your Help to Buy Equity Loan
If you are looking to repay a Help to Buy equity loan, our legal team can assist with managing the redemption process and dealing with Homes England on your behalf. We will assess your circumstances, apply for the redemption, respond to Homes England’s instructions and manage all associated legal steps through to completion.
While the process can be slow and document-heavy, our experience helps to keep things on track and ensures you meet the requirements set by the scheme. We will handle the necessary correspondence, give the required undertakings, manage the funds and submit the discharge to Land Registry once approved.
With offices in Bramhall, Cheadle, Hazel Grove and Heald Green, we support clients across Stockport, Greater Manchester and throughout England. Remote appointments are available for convenience.
Contact us today to speak with one of our Conveyancing Solicitors and take the next step towards redeeming your Help to Buy loan.
Other Services
Mounteney Complete
Land Registry ID1 Form
Completion of Property Transaction
