Am I eligible for the Help to Buy scheme?

Help to Buy Wales is available to all buyers who are buying a new build home up to the value of £300,000. There are a few important things you should know about Help to Buy Wales:

  • To qualify, you will need to have a minimum of a 5% deposit.
  • The Welsh government will give you a shared equity loan for up to 20% of the purchase price.
  • You will need a mortgage to cover the other 75%.

As an example:

For a property worth £300,000 Amount
Cash deposit of 5% £15,000
Shared equity loan of 20% £60,000
Your mortgage at 75% £225,000

If you were to sell, then you would realise 80% of the value (your mortgage and the 5% deposit) and repay the government’s equity loan of 20%.

If you were to remain in the property, you would start to pay interest from year 6 at 1.75% of the original shared equity amount.

For further information, please refer to the Help to Buy website.

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