Help to Buy – Wales
How does the Help to Buy – Wales scheme work?
Looking to get on or move up the property ladder in Wales? Help to Buy – Wales scheme has been extended to 2025 along with a new cap of £300,000 starting in April 2023. It’s a perfect option for those wanting a more affordable approach to owning your first or next property and you could be moving sooner than you first thought.
*Help to Buy – Wales, subject to eligibility, terms and conditions.
What is Help to Buy – Wales?
Help to Buy – Wales has received a two-year extension along with an increased price cap, meaning you could be on the property ladder much sooner than expected. But what is Help to Buy Wales? The Help to Buy – Wales scheme is a shared equity loan allowing first time buyers and home movers to purchase a new build home up to the value of £300,000 from April 2023. The current Help to Buy - Wales scheme currently has a price cap of £250,000 which ends in March 2023.
How does Help to Buy work in Wales?
If eligible, the Help to Buy – Wales scheme allows first time buyers and existing homeowners in Wales buy a new build home with just a 5% deposit and a shared equity loan of up to 20% of the cost of a new build home. This means if a first-time buyer was to buy a new build home worth £300,000 come April 2023, they would need a £15,000 deposit, the shared equity loan would amount to £60,000 and their mortgage would amount to £225,000.
Who can use the Help to Buy scheme in Wales?
To use Help to Buy – Wales, you must meet the eligibility criteria. Help to Buy Wales is open to all homebuyers looking to purchase a property in Wales who:
• are purchasing a new-build home up to the value of £300,000
• have a minimum 5% deposit
• can afford the repayments on a 75% loan to value repayment mortgage
• are buying their only home for personal residence and are not planning to sub-let
Full details can be found on the Welsh Government website.
Find your dream home
Castle Green Homes is a registered builder with the Help to Buy – Wales scheme. That means you can browse our North Wales developments knowing you can utilise Help to Buy – Wales and reserve your dream home with a 5% deposit.
Search nowCastle Green Homes has retained its 5-star customer satisfaction rating in the annual industry-wide survey conducted by the Home Builders Federation (HBF).
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