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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 mortgage and a minimum 5% cash deposit.

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.