In this guide
4. Repaying your equity mortgage
The Equity Mortgage needs to be repaid within 25 years. However, you are free to pay off your Equity Mortgage at any point within that period.
You can repay either a proportion or the entirety of the amount owing under your Equity Mortgage with or without selling your Property.
If you make a partial repayment the remaining balance of your Equity Mortgage must be at least 5% of the market value of your Property.
You cannot make a partial repayment if you are in arrears with your monthly payments, unless those arrears and any other outstanding fees or expenses are paid off at the same time as you make the repayment.
You must instruct your own Royal Institution of Chartered Surveyors (RICS) valuer to carry out the valuation and confirm the current Market Value. Read the valuation guidance.
If you are looking to change the ownership of your Property, you will need to complete the Change of Ownership Form and obtain our permission.
If you are planning on making any alterations to the property which are not cosmetic you will need our permission.
If any of the circumstances apply to you, you will need to complete the Post Completions Instruction Form.
Further information about your Help to Buy - Wales agreement can be found in the Help to Buy - Wales : Post sales guide
All homes sold through the scheme, will need to meet a minimum of EPC rating of B and the purchase price cap is £300K. Download the application form for the extended scheme.