Help to Buy in Wales

Help to Buy Wales
The Help to Buy scheme is designed to help first-time buyers to purchase affordable new build homes in Wales. Find out how the scheme can benefit you with WhatHouse?
What is Help to Buy?
Available only on brand new homes, Goverments "Help to Buy scheme" gives financial assistance to new home buyers by reducing the deposit required down to 5%.
Now used as an ‘umbrella’ brand for a variety of government homebuying schemes, the main part of this initiative provides financial assistance to buyers in the form of an equity loan, a lump sum added to the purchaser’s deposit to reduce the size of the mortgage they need. This loan is interest-free for five years and only needs to be repaid when the property is sold. Hundreds of housebuilding companies have signed up to the scheme, and there are just a few eligibility criteria for potential buyers to meet in order to qualify for it.

The latest statistics from the government show that over 100,000 homes were purchased with this equity loan from the launch of the scheme in April 2013 to the end of September 2016, with 80% of them purchased by first-time buyers.
young couple looking at new homes

View of Cardiff
Help to Buy Wales
Help to Buy Wales (Cymorth i Brynu Cymru) works along the same principles of the scheme for England, but the property price limit is £300,000. The buyer needs to provide a 5% deposit and will receive a 20% equity loan from the government, with a mortgage of 75% of the property price needed to complete the purchase.

Read more

What's best for me, equity loan or the mortgage guarantee scheme?
Can I buy a home off-plan?
Can I change the property in any way?
Are there any restrictions on the type of property I can purchase?
Do I have to pay stamp duty?
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