Over the last six months, we at eConveyancer have seen an increase in enquiries relating to clients
wishing to repay their help to buy equity loans. Feedback from conveyancers and advisers highlights
the confusion that clients sometimes feel in terms of what they need to do and who they need to
contact – the following provides an overview of the process that we hope will alleviate client
concerns.

How much does your client need to repay?
The amount owed is based on the market value of your client’s home when they wish to repay the
loan. The amount to repay will include interest, outstanding payments or arrears, and any due fees.

What are the steps?
Valuation
Your client will need to obtain a help to buy valuation report; this report should be forwarded
to the Help to Buy administrator.
o The report must be signed and dated by a certified RICS surveyor and must be on headed paper
addressed to Homes England. It can be supplied as a PDF file or digital document that cannot be
edited.
o The report must be sent to the administrator within five days of the report being issued.
Valuations are usually valid for a period of three months and can be extended only by agreement
from the administrator.
✓ eConveyancer can assist with arranging an HTB valuation report; a quotation can be
obtained through our conveyancing portal by selecting the survey option

Confirmation of how the client is raising funds to repay the loan
o If your client plans to use their own money to repay the loan, they will need to provide
evidence to show where the funds are coming from. If they are raising funds through a mortgage
lender, they will need to provide a copy of the mortgage offer.

Instruct a conveyancer
o Your client must instruct a conveyancer to carry out the legal process required.
✓ You can provide your clients with a conveyancing quotation by accessing
the eConveyancer portal.

Fees
Your client will need to pay an administration fee of £200 when applying to repay their equity
loan. They can pay this via bank transfer, debit, credit card, or cheque.
Payment is direct to the help to buy administrator.

Repayment application form
Your client must complete and return the equity loan repayment application form to the help to
buy administrator. They will be asked to provide their conveyancer’s contact details at this stage.

Redemption letter
The administrator will forward the client and their conveyancer a redemption letter – please
note that this is only after your client has provided RICS valuation, completed application form, &
administration fee.

The redemption letter will confirm that your client can repay the loan, the % of equity loan
taken originally and the repayment amount.

Legal undertaking
The administrator will forward the conveyancer a list of items they need to put into a ‘legal
undertaking’. An ‘Authority to Complete’ will not be issued until all interest, fees, charges, and
arrears have been repaid.

Repayment of the Equity Loan

The administrator will issue ‘Authority to Complete’ within five days of receiving the
undertaking from the conveyancer. At this point, the conveyancer will transfer the funds to repay
the loan and forward completion documents to your client.
When the administrator receives monies, they will check this against the authority to complete
and inform the conveyancer accordingly. The administrator will apply to the Registry to remove the
charge on the property.
Please note that if your client is remortgaging and not repaying their equity loan they will need
to obtain permission from the Help to Buy administrator.
As confirmed above, eConveyancer is here to support you and your clients. We not only offer access
to specialised conveyancers who are knowledgeable in these types of transactions, but we can also
assist in obtaining a valuation report certified by an RICS surveyor.

Getting Started with eConveyancer
Log in to your eConveyancer portal here.
If you’ve not received your registration details or require any assistance
registering on eConveyancer, please contact either Chantal or Jodie
o Chantal Wright on 07500 707670 or email Chantal.Wright@hellosmoove.com
o Jodie Babbage on 01844 265455 or email Jodie.Babbage@hellosmoove.com

• Fees
o Your client will need to pay an administration fee of £200 when applying to repay their equity
loan. They can pay this via bank transfer, debit, credit card, or cheque.
Payment is direct to the help to buy administrator.

• Repayment application form
o Your client must complete and return the equity loan repayment application form to the help to
buy administrator. They will be asked to provide their conveyancer’s contact details at this stage.
• Redemption letter
o The administrator will forward the client and their conveyancer a redemption letter – please
note that this is only after your client has provided RICS valuation, completed application form, &
administration fee.
o The redemption letter will confirm that your client can repay the loan, the % of equity loan
taken originally and the repayment amount.
• Legal undertaking
o The administrator will forward the conveyancer a list of items they need to put into a ‘legal
undertaking’. An ‘Authority to Complete’ will not be issued until all interest, fees, charges, and
arrears have been repaid.
• Repayment of the Equity Loan
o The administrator will issue ‘Authority to Complete’ within five days of receiving the
undertaking from the conveyancer. At this point, the conveyancer will transfer the funds to repay
the loan and forward completion documents to your client.
o When the administrator receives monies, they will check this against the authority to complete
and inform the conveyancer accordingly. The administrator will apply to the Registry to remove the
charge on the property.
Please note that if your client is remortgaging and not repaying their equity loan they will need
to obtain permission from the Help to Buy administrator.
As confirmed above, eConveyancer is here to support you and your clients. We not only offer access
to specialised conveyancers who are knowledgeable in these types of transactions, but we can also
assist in obtaining a valuation report certified by an RICS surveyor.
Getting Started with eConveyancer
• Log in to your eConveyancer portal here.
• If you’ve not received your registration details or require any assistance
registering on eConveyancer, please contact either Chantal or Jodie
o Chantal Wright on 07500 707670 or email Chantal.Wright@hellosmoove.com
o Jodie Babbage on 01844 265455 or email Jodie.Babbage@hellosmoove.com