Help to Buy Interest

Trig

A question on help to buy and the interest charged after 5 years.  
Interest is 1.75% of original equity loan after 5 years (increasing further every year)

But what happens if you remortgage after 5 years (not borrowing extra to repay equity loan), but the property value has increased.  
Is the equity loan interest based on original loan or based on the current property value at remortgage?
I will try an example: 

200K Property Value, 40K (20%) Equity Loan, 150K 5 year fixed rate mortgage
Year 5 equity loan interest 1.75% of 40K (700 a year, 58.33 a month) increasing further every year.

After 5 years - the Property Value is now 300K.
- If you remortgage to a new fixed rate mortgage (different lender, borrowing no more, equity loan stays at 20%) - is the equity loan interest based on 40K or 60K (20% of 300K)?
- What about if you just move to a new fixed rate deal with the same lender?  is the equity loan interest based on 40K or 60K (20% of 300K)?
- If you stay on standard rate with same lender assume no change to equity loan payments

Hope this makes sense and in the correct forum.
Thanks

jay1804

I'm not 100% sure, but from the research I have done

1) Remember the equity loan is like your deposit/equity, its just that lenders limit you to certain products and rates, so if you remortgaged and the property value went up you might get a lower mortgage rate. The equity loan would still be 20% and the interest would still be based on 40K as I believe the interest is only on the amount you borrowed. They would only know they owe more once you have done the RICS valuation pay off the equity loan.
2) Same as above the interest would be the same.
3) Yes stays the same.

Hope this helps if i'm correct.

Thrugelmir

The equity loan remains static. This amount will never change. Though the amount you repay will differ depending on whether the value of the property has risen or fallen.