To qualify for Help to Buy – Wales, you need to meet specific criteria, which include the following:

• You must be purchasing a new-build home valued up to the maximum of £300,000.
• You must be capable of financing a minimum of 80% of the property price through a combination of a repayment mortgage and a deposit of at least 5% of the purchase price.
• You’ll need to secure a first charge repayment mortgage with an eligible lender.
• You should not sublet any part of the property acquired through the scheme.
• You should not be renting out your current residence while simultaneously purchasing a second home via Help to Buy – Wales.
• If you already own a home, you will need to sell your current home prior to applying for Help to Buy – Wales.
• Any mortgage used alongside Help to Buy – Wales must be a repayment mortgage and not an interest-only mortgage.

The scheme has been extended until 31 March 2027.

Help to Buy – Wales is applicable to new-build homes valued up to £300,000, with no specified minimum value.

Help to Buy – Wales enables you to buy your new home with just a 5% deposit.

You are eligible to borrow up to 20% of the value of the new build home through a shared equity loan.

Help to Buy – Wales is interest-free for the first five years, however, there is a management fee of £1 per month until the loan is repaid.

When using the Help to Buy – Wales scheme, the shared equity loan needs to be repaid within 25 years, or when you sell your home. However, you are able to pay off the shared equity loan at any point within that period.