Redeeming Your Loan

If you purchased through an equity loan Help to Buy (previously known as HomeBuy) scheme, then you may wish to pay off the loan or you may want to sell your property and redeem the loan on completion of the sale.  The amount you repay will be calculated based on the current market value of your home.  The only exception to this is the Starter Homes Initiative £10,000 interest free loan as the figure will always remain £10,000.

Contact your equity loan provider to confirm the process of obtaining a current market valuation and the processing fees involved.

If you bought with:

  • Help to Buy: Equity Loan
  • FirstBuy
  • HomeBuy Direct
  • First Time Buyers Initiative

Please contact Target at myfirsthome for all enquiries: Tel 0345 848 0235.