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Is now a good time to repay a Help to Buy loan?

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ExR
ExR Posts: 4 Newbie
First Post
I have had a Help to Buy loan since March and am now in a financial position to be able to pay it back. The loan amount at the time was for £37k.
What I don't know is whether or not now is a good time to repay this loan. Some people predict a recession or possible decrease in house prices. In either scenario, there is a possibility of paying back less. Looking at house prices in my area, they don't seem to have dropped since COVID-19 and if anything, they have risen.
I appreciate some of these questions only I can only really answer but would be interested to hear any thoughts
Thank you

Comments

  • DrEskimo
    DrEskimo Posts: 2,435 Forumite
    Seventh Anniversary 1,000 Posts Name Dropper
    Very interesting proposition...!

    The HTB portion is interest free for 5 yrs right? I might be tempted to wait 6-montjs or so and see what happens. If your wrong and prices rise, it's not going to be by large amounts.
  • ExR
    ExR Posts: 4 Newbie
    First Post
    Thanks for the feedback.
    I guess that makes sense. Having the funds put away also gives me some security in the event that my employer makes me redundant. They have not hinted or suggested that may happen, but they have a history of making redundancies as with most large businesses. 
    I think I will wait and see how things look in 6 months
    Thanks again
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