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Wrexham

Call 01978 291000

10 Grosvenor Road, Wrexham, LL11 1SD



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Chester

Call 01244 312166

2 Vicars Lane, Chester CH1 1QX



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Llanrwst

Call 01492 641222

Bank Buildings, Llanrwst, Conwy, LL26 0LS



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HTBW

Help to Buy Wales Scheme


The Help to Buy Scheme was introduced by the government with aims to help people who can afford mortgage repayments but struggle to raise the initial deposit. Sioned McGlory, a solicitor in our property department is an Accredited Conveyancer for the Help to Buy Wales Scheme and explains the scheme in more detail:
  • The Help to Buy Scheme is assistance from the Welsh Government in the form of a shared equity loan for up to 20% of the purchase price. You will need to contribute a deposit equal to 5% of the property price and a mortgage will need to be secured to cover the remaining balance.
  • It is available to existing property owners who are looking to move home as well as first time buyers.
  • It is available for eligible purchasers to buy a new-build home in Wales up to £300,000 from builders participating in the scheme.
  • The property to be purchased must be your residential home on completion and you cannot let it out.
  • The shared equity loan needs to be repaid within 25 years. However, you are free to pay off the shared equity loan at any point within that period.
  • Help to Buy (Wales) have a panel of Accredited Conveyancers which includes Sioned McGlory from our property department. Accredited Conveyancers are familiar with undertaking residential conveyancing in respect of properties purchased under the Scheme.
For more information about the Scheme and eligibility requirements, please visit the Help to Buy (Wales) website http://helptobuywales.co.uk/

Should you wish to discuss any matters relating to this article please contact Sioned McGlory on 01492 641222 or by email [email protected]

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The professional rules relating to solicitors' firms, including the Code of Conduct can be accessed on the website of the Solicitors Regulation Authority at www.sra.org.uk

Allington Hughes Law is a trading name of Allington Hughes Limited. Registered office is 10 Grosvenor Road, Wrexham LL11 1SD

Registered in England and Wales. Company registration number 07831162.

Authorised and regulated by the Solicitors Regulation Authority number 597867

V.A.T. registration number 166 8213 93