Homebuy Schemes
Homebuy properties are purchased with the aid of a Welsh Government funded equity loan. We don’t currently have any new Homebuy properties planned, but we may do in the future.
As a Homebuy purchaser you will need to be able to fund 70% or in some cases 50% of the purchase price of a property usually through a mortgage and we will provide you with a grant financed from the Welsh Government. This is a second charge of the property, and you usually have the chance to re-pay us as and when you are in a position to do so or at point of Sale.
Frequently asked questions
Homebuy purchasers need to fund 70% of the purchase price of a property, usually through a mortgage, and we provide a 30% grant financed from the Welsh Government. This is called a “second charge” on the property and you usually have the chance to re-pay us as and when you are in a position to do so, but it must be repaid if you sell.
There is no rent to pay as the property is owned 100% by the purchaser.
Yes, you can repay early. The amount you repay will be linked to the percentage of the equity loan. (If you borrowed 30%, you will repay 30% of the current value of your property, as at the time of repayment)
Yes, you are fully responsible for all maintenance and repairs, the structure, inside and outside of your home. It is important to note you are also responsible for insuring the property as you are the freeholder.
Yes, you are responsible for insuring the property for building and contents insurance as you are the freeholder
There is no rent to pay, but you may have a monthly service charge if there is a communal area you have the use of