Help to Buy valuation

PaulTW007

i am looking to sell my house which has a 20% help to buy loan on it and have been told that I will need to pay back 20% of either the sales price or the RICS valuation, whichever is higher. Is this correct and if so isn’t this open to abuse?

RelievedSheff

Yes it is correct and is what you signed up for at the time you took out the loan.

From the HTB guidance booklet:

"You can sell your home at any time and an independent valuer must decide what it is worth. Your property should be sold on the open market at the prevailing market valuation. If you do sell your property for more than the prevailing market value then the amount due to Homes England under the equity loan will be their percentage value of the actual sale price. Homes England will not agree to release its charge over the property for sales at less than market value. "

watch3r

PaulTW007 said:

i am looking to sell my house which has a 20% help to buy loan on it and have been told that I will need to pay back 20% of either the sales price or the RICS valuation, whichever is higher. Is this correct and if so isn’t this open to abuse?

No , as HTB very clearly states the rules of sale and you have it when applying for HTB , form you solicitor and on exchange. 

So you ware well aware of how this works.