I’m Charles Calvert, a mortgage broker at Easy Mortgages. This is general information, not personal advice. Always check the figures against your own situation before you decide anything.
Many Hampshire homeowners still have a Help to Buy equity loan beside their main mortgage. Remortgaging to repay that loan is a common project once the period with no interest charged ends — or when interest has already started and the cost is climbing.
The Help to Buy equity loan scheme in England is no longer open to new applicants, but thousands of existing loans remain on new-build estates around Fareham, Whiteley and the wider county. If you already have one, the remortgage question is very much live.
Interest after year five
Help to Buy equity loans charged no interest for the first five years. After that, interest usually starts and rises over time under the scheme rules. That is why many people plan a remortgage or partial repayment around that anniversary. Check your own equity loan statements for the exact charges and dates rather than relying on a neighbour’s experience.
How remortgaging to repay the equity loan works
Typically you remortgage onto a larger main mortgage that pays off the equity loan, subject to valuation, available equity and lender criteria. You need a valuation the scheme administrator and the new lender will accept, enough equity headroom after fees, and an income position that supports the higher main loan. Some people repay part of the equity loan from savings and remortgage the rest.
Timing and paperwork
These cases involve more moving parts than a straightforward rate switch: scheme forms, redemption figures, valuation instructions and conveyancing that understands Help to Buy. Starting a few months before you want to complete reduces the chance of interest ticking up while files sit incomplete. With mainstream mortgage rates much higher than when many Help to Buy purchases completed, affordability on the combined loan needs a careful check.
Hampshire new-build estates
Help to Buy stock remains common on estates around Fareham, Whiteley and wider Hampshire. Local agents and brokers see these cases regularly. The process is familiar, but each loan still needs careful packaging — especially if your property value has moved a long way from the original purchase price.
Fees
If we arrange the remortgage, my fee is £299 once you receive a full mortgage offer. First conversations are no fee and no obligation. Product transfers are a different route and may not repay an equity loan on their own — we would check that against your lender’s rules.
Partial repayments without a full remortgage
Some homeowners make voluntary partial repayments of the equity loan when they have spare cash, then remortgage later. Scheme rules set minimum tranche sizes and process. Ask the scheme administrator for the current redemption figure and process before you move money. I can help coordinate the main mortgage side once you know how much equity loan will remain.
When values have risen — or fallen
The equity loan is a percentage of the property’s value at the relevant valuation, not a fixed pound amount forever. If your home has risen a lot since purchase, redeeming can cost more in pounds than you first borrowed. If values have softened, the opposite can apply. A current valuation is essential before you decide timing.
A quick Hampshire checklist
Before you act on anything in this article, write down your target property price or current balance, your deposit or equity, your deal end date if you have one, and the monthly payment you could comfortably afford if rates moved again. Bring that note to a broker chat and we can turn it into live illustrations. Easy Mortgages is based in Fareham and works with clients across Gosport, Portsmouth, Southampton and the wider county.
None of the examples here are a personal recommendation. Products, criteria and tax rules change, and your credit file and income decide what is actually available. A short conversation usually clarifies more than another hour of search results.
Next step
If your Help to Buy interest is due to start — or has already started — and you want a plan to remortgage in Hampshire, get in touch with your outstanding loan figures and we will map the steps.
If you would like to talk this through for your own numbers, you can get in touch here or email contact@easy-mortgages.co.uk. I am based in Fareham and help clients across Hampshire.