Thanks to this Welsh government scheme, equity loans are now available for first time buyers and second time movers. You could be moving into your brand new home with only a 5% deposit!
Help to buy Wales shared equity loans are available to both first-time buyers and home movers who wish to purchase a new build home worth up to £300,000.
The buyer must contribute a deposit equal to 5% of the property price, and the Welsh Government (through the Help to Buy Wales scheme) will fund a shared equity loan for up to 20% of the purchase price.
As the buyer, you must now only need to secure up to 75% mortgage to cover the remaining balance from your bank or building society.
From the time you receive the shared equity loan, you will be charged an administration fee of £1 per month for the first 5 years of owning your home.
- Your dream home is worth £200,000
- You need to contribute at least 5% of the property price as a deposit: £10k
- The Welsh government will give you a shared equity loan for up to 20% of the price: £40k
- The mortgage lender. You will need a mortgage of up to 75% to cover the rest: £150k
Help to Buy Wales is available on all our developments throughout North Wales. For more information on Help to Buy Wales, please click here.
For information on Help to Buy England, please click here
Please contact our sales adviser for more information.