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6. Phase 3

Phase 3 of Help to Buy in Wales will be available from April 2021 until March 2022 with the possibility of a further extension until March 2023, subject to the availability of funding.

From April 2021, under phase 3, properties eligible to be sold with the Help to Buy – Wales scheme must not exceed a market value of £250K. Homebuyers who meet the affordability criteria and lending terms can borrow an equity loan of up to 20% of the sale price of a new build home. Homebuyers must fund at least 80% of the sale price, this will be made up of a a mortgage and a minimum 5% cash deposit.

Application details for Phase 3 which opens 1st April 2021, will be available shortly.

The existing scheme, Phase 2, will close to applications at 5pm on 31st March 2021 (subject to funding availability). For properties to be eligible for Phase 2 funding they must be practically and legally completed by the 23rd December 2021.