Date: Tuesday 11 February 2014
Taylor Wimpey has welcomed the Welsh Government’s new Help to Buy – Wales shared equity scheme, which aims to help 5,000 buyers purchase a new home.
The initiative, which was launched on 2nd January 2014, enables first-time buyers and existing home-owners to secure their new property in Wales for 80% of its full price.
Help to Buy – Wales customers receive a loan of up to 20% from the Welsh Government to help with their home purchase, which means that they only need to put down a deposit as low as 5% and obtain a 75% loan-to-value mortgage.
The scheme is available on new-build properties in Wales up to the value of £300,000.
Sara Taylor, Sales and Marketing Director for Taylor Wimpey South Wales, says: “We are delighted that we are now be able to offer the Help to Buy – Wales scheme on our developments across South Wales and help prospective buyers make the move into their dream Taylor Wimpey home.
“With a deposit as low as 5% required and a 75% loan-to-value mortgage, Help to Buy – Wales eliminates the need for a hefty downpayment on a property, as well as making the customer’s monthly mortgage repayments much more affordable.
“The scheme will make all the difference to those who thought home ownership was well out of their reach as well as those who’ve needed a larger house but have not been able to move up the property ladder.
“However, we’re expecting demand for Help to Buy – Wales to be incredibly high, so I’d urge anyone hoping to take advantage of the scheme to contact us without delay.”
Help to Buy – Wales mirrors a similar initiative that has been operating in England since April, which helped over 5,000 buyers purchase a home in the first six months of the scheme alone.