In this guide
Homebuy - Wales supports households by providing an equity loan to assist purchasing an existing property.
The scheme helps people who could not otherwise afford to buy a property and is particularly of benefit in more rural communities where there may be few opportunities to buy a home.
Homebuy is not available in all areas and where it is available the scheme will be subject to local eligibility criteria.
How it works
With Homebuy – Wales:
- you will normally need to contribute 70% of the purchase price of a home through a mortgage and/or personal savings
- you will need to arrange a mortgage from an approved lender
- you will need to make the agreed payments to your mortgage lender, there are no monthly payments to the housing association
- you must repay the equity loan when you sell the home at the equivalent percentage value of your home at the time you sell it
- you can repay the loan before you sell you home in which case you will repay based on the value of your home at that time
|Value of home||Your
|Equity loan (30%)|
|Value of home||Your share (70%)||Equity loan
to be repaid (30%)
in value at sale