WHAT IS HELP TO BUY WALES?
Help to Buy Wales is a scheme that offers buyers a 20% loan on a mortgage. This means buyers will need to save just 5% deposit on a new property. For example, a buyer who wants to purchase a £100,000 house will need to raise just £5,000.
Another 20% of the mortgage will be provided through a loan from Help to Buy Wales. The loan will be interest-free for five years and, according to Help to Buy Wales, will be at ‘below market rates’ once interest is charged.
Anybody who uses the Help to Buy Wales scheme will need to qualify for a 75% mortgage, covering the remaining value of the property once the deposit and loan is secured.
WHAT SORT OF HOME CAN I BUY?
Marine House qualifies for Help to Buy, as apartments priced up to £300,000 are eligible for purchase under the scheme, with equity loans of up to £60,000 available to buyers.
FIND OUT MORE
Visit the HELP TO BUY WALES website for full details of the scheme.