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Mortgage Advisor & Director
About the Scheme
This scheme allows the purchase of new-build homes of a value up to £300,000 with a 5% deposit.
The shared equity loan is offered up to 20% of the purchase price, with a mortgage required for the remaining value. You will not pay back any fees for the first five years, after which the interest rate is 1.75% and increases in line with the Retail Price Index +1%.
The scheme is open existing homeowners as well as first time buyers.
Eligibility and conditions
- A 5% deposit must be provided.
- The property price cap is £300,000.
- You may borrow a maximum of £60,000 under the scheme, there is no minimum amount.
- The loan must be repaid within 25 years.
- The property must be built by a builder registered on the scheme.
- A monthly management fee of £1/pcm is payable until the loan is repaid.
- The Help to Buy Wales scheme is entitled to a percentage of future sale proceeds, which varies depending upon their initial funding provision.
- You must take out a repayment mortgage with a qualified lender.
- Renting or subletting the property is not permitted.
More information
Our team of experienced mortgage advisors have helped many people get the best deal possible on their Help to Buy mortgage. Complete our simple online form today to get started!
More information can be found on the Help to Buy Wales website.
Choosing an Adviser
Selecting a qualified and experienced mortgage adviser is of great importance. To choose a suitable adviser, evaluate their qualifications, experience, and reputation, and ensure they are regulated by the Financial Conduct Authority (FCA).
Read reviews from previous clients and make sure they provide a clear explanation of the products and services they offer, as well as the fees and charges associated with them.
