Those who apply for an equity loan through Help to Buy Wales from April 1 can take advantage of a new, higher price cap of £300,000.
New build home buyers in Wales who harness help from a government scheme now have more choice. Those who apply for an equity loan through Help to Buy Wales from April 1 can take advantage of a new, higher price cap, meaning they can now buy a home for up to £300,000. It’s available on new Anwyl homes in North Wales, including Summers Bridge and Croes Atti in Flintshire, Maes y Rhedyn near Wrexham, and Parc Aberkinsey in Rhyl.
Help to Buy Wales is a shared equity loan scheme designed to support home ownership and provide a boost to the wider economy. It was recently extended for a further two years until March 2025. It provides loans for up to 20% of the purchase price on all new build Anwyl homes under £300,000 in Wales. Buyers only need a 5% deposit plus a mortgage from their lender of choice to cover the remaining 75%. There is no interest to pay on the Help to Buy equity loan for the first five years*. More than 13,500 Welsh home buyers have already used a Help to Buy equity loan to purchase a property since the initiative launched in 2014. Around 10,000 of them have been first time buyers although the scheme is open to all new build purchasers. Graeme Gibb, sales director for Anwyl Homes in North Wales, said: “Help to Buy Wales has provided a lifeline for many people to buy a new home or move up the ladder. It’s already helped thousands to overcome affordability issues, either in terms of saving for a deposit or accessing better mortgage rates to lower their monthly repayments. “It's wonderful news that the initiative has been extended for a further two years with a new price cap of £300,000. This has increased in line with average house prices to ensure buyers have a wider choice of homes and can find one that suit their needs. “Buyers who have saved for a 5% deposit should be able to access more competitive interest rates using Help to Buy Wales as they only require a 75% loan to value mortgage. So, for example, on a house priced at £300,000, a deposit of £15,000 would be needed, and a mortgage to cover £225,000.” Buyers can choose from a range of two, three and four-bedroom Anwyl homes at Summers Bridge in Deeside, Croes Atti in Oakenholt, Maes y Rhedyn in Llay and Parc Aberkinsey in Rhyl. To find your nearest Welsh development see
anwylhomes.co.uk/our-developments *For more information see
www.gov.wales/help-buy-wales.
