Do I need a RICS valuation to repay Help to Buy?
The short answer
Yes, for almost every route: repaying from savings, repaying by remortgage, and part-repaying (staircasing down the loan) all require an independent RICS valuation, because the loan is a percentage of market value, not a fixed sum. Selling still needs one too - you repay the loan's percentage of the sale price or the RICS valuation, whichever is higher. An estate agent's appraisal never counts.
Why a percentage loan needs a valuer
The equity loan was never a pound figure - it was a share of your home, typically 20% (up to 40% in London). Repaying means buying that share back at today's value, so someone independent has to establish today's value. That's the whole job of the RICS valuation: a £150 to £350 report that prices a five or six-figure repayment.
| Route | RICS valuation needed? | What sets the repayment |
|---|---|---|
| Repay in full from savings | Yes | Loan % × RICS valuation |
| Repay by remortgaging | Yes | Loan % × RICS valuation |
| Part repayment (min 10% of value) | Yes | Part % × RICS valuation |
| Selling the home | Yes | Loan % × sale price or valuation - the higher |
What doesn't count, and why
Estate agent appraisals, online estimates, your mortgage lender's valuation, an insurance rebuild figure - none are accepted. The administrator requires a RICS-registered valuer, independent of the sale, who has inspected internally and evidenced the figure with comparable sales. It's not bureaucracy for its own sake: both sides of the transaction (you, and the taxpayer who funded the loan) are relying on one number, so the number has to be defensible. The full sequence from booking the valuer to completion day is in how repaying works.
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Compare valuation quotesCommon questions
I'm selling for more than any valuation would say - do I still pay for one?
Yes - the rules require it regardless, and in your case it's painless: the repayment simply follows the higher sale price. Think of the report as the administrator's proof that the sale price was genuine.
Can I part-repay less than 10%?
No - partial repayments must be at least 10% of the current market value per instalment, which is what makes the valuation necessary even for partial redemptions. Smaller overpayment-style chipping isn't part of the scheme's design.
Does repaying early save money?
From year six the loan charges interest (starting at 1.75% and rising annually), and the repayment tracks your home's value - so in a rising market, waiting costs twice. In a flat or falling market the maths softens. The one universal: the interest never buys any of the loan off.
Who actually is 'the administrator'?
The government appoints a loan administrator to manage equity loans day to day - applications, redemption figures, completions. Your paperwork and valuation go to them; GOV.UK's equity loan pages point to the current arrangements.
Sources and further reading