We’ve been helping people own homes of their own for more than 170 years, so we understand how tricky it can be to raise a deposit to buy a property. With the Wales Help to Buy government scheme you could purchase your property with a much smaller amount upfront.
What is the Help to Buy Equity Loan Scheme?
With the Help to Buy - Wales scheme, as long as you’re buying a new-build home and meet eligibility criteria, in Wales the government may give you a loan of up to 20% of the property’s purchase price to boost your deposit. All you have to do is pay a minimum deposit of 5% and take out a repayment mortgage to cover the remaining amount.
Eligible buyers can apply for the equity loan to purchase a newly built home bought through a registered Help to Buy - Wales builder. And, there are no equity loan interest repayments to the government for the first five years of owning your own home.
The maximum property value allowed is £300,000, and the property must have an Energy Performance Certificate (EPC) rating of A or B.
For more information on the scheme in Wales, please visit the Welsh government website.