Help to Buy in Wales


7 years ago by Nigel Kags and 2285 Views

Help to Buy in Wales provide potential first-time buyers with an equity loan they can use to purchase their prospective new built home. The scheme supports homeowners to buy homes with a market value of up to £300,000 and a home developed by a registered Help to Buy in Wales constructor. If you want to qualify, there is a set of criteria you need to pass. Eligible applicants need to be able to pay a 5% deposit of the purchase price of the property. To pay for the rest of the purchase price, you need to be able to take out a repayment mortgage with a suitable lender. Help to Buy schemes do not allow second homes and sub-letting any part of the house. If you can qualify to these criteria then you may try to apply for Help to Buy in Wales. There are restrictions to the type of property you can buy through Help to Buy. The property’s market value must not exceed £300,000 and it has to be a new building. Moreover, as mentioned before, you cannot buy it as a second home or used for renting purposes. In terms of size, there is no limit as long as it is within the maximum price constraint. There are no limits to the number of bedrooms as well.