Help to Buy & Remortgage

mancdude

Hello, 
Despite many searches I can't find a straight answer to this one so hoping you can help. 

We purchased a property for £257k with help to buy, using a 5% deposit and 20% government loan. 

In 2022 we can remortgage, and we're hoping to buy out of the loan. I don't know how much we'd need to remortgage though and I'm getting confused with equity. 
Presently, the house is valued at £300k, so using that as an "in theory" number to help with planning. 
The amount we will have paid on the mortgage will be approx. £35-40k at the point of remortgage, so how do we work out what we need to remortgage and pay off the help to buy loan, which will be 20% of whatever the house is worth at the time (60k approx)? 

haras_n0sirrah

You would need to add the 20% of the house value onto your existing mortgage
So if your mortgage is 180k at the time and the government bit is 60k you need to borrow 240k