Help to Buy (Wales) allows an eligible buyer to purchase a brand new property, funded by an affordable mortgage and help from the Welsh Government.
Help to Buy (Wales) gives you the chance to buy a new home with the assistance of an equity stake. The value of the stake is a maximum of 20% of the full price of the property. The maximum full purchase price is set at £300,000. Help to Buy (Wales) is open to all buyers including existing home owners and first time buyers.
Under the scheme the government provides an equity stake as follows:
Our Help to Buy (Wales) offer is currently available at the following developments:
Terms and conditions apply
Help to Buy (Wales) is only available on selected homes at selected developments in Wales up to a value of £300,000. Eligible applicants will be offered an equity stake of up to a maximum of 20% of the full market price. The Welsh Government will hold the second charge on the property. Applicants are required to fund at least 80% of the purchase price by means of a mortgage and any deposit where required. The maximum you can borrow from HtBW under this scheme is £60,000. There is no minimum amount. Buyers must provide a deposit of a minimum of 5% of the purchase price of the home bought under this scheme. After five years you will be required to pay interest at 1.75% of the market value of your shared equity loan at the time you purchased your property, rising each year after that by the increase (if any) in the Retail Prices Index (RPI) plus 1%. More details are on page 15. The loan itself is repayable after 25 years or on the sale of the property if earlier, or in certain other circumstances. You must pay a monthly management fee of £1 per month from the start of the loan until it is repaid. The total amount payable by you will be the proportion of the market value of your home that was funded by this loan, plus interest and charges. The amount you will have to repay under the loan agreement will depend on the market value of your home when you repay the shared equity loan and the rate of inflation in the meantime. Your home may be repossessed if you do not keep up your repayments on your mortgage. Help to Buy is not available for part-exchange or buy-to-let.
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