Homebuy

Scheme

  • A scheme supported by the Welsh Government to help buy a property on the open market.
  • You are not able to buy a home suitable for your needs without help from 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 
  • That you are able to meet the specific criteria set by each local authority/Registered Social Landlord which operate the scheme.
  • Click on the link for further information on the Homebuy scheme and the step by step guide for buyers Homebuy – Wales | GOV.WALES
  • Please note :- Since the 1st of April 2026, Gwynedd Homebuy is being administered by Gwynedd Council. Please contact tai@gwynedd.llyw.cymru / 01286 685100.

 

To be eligible for Homebuy – Wales you must:

  • Be over 18 years of age.
  • Have a combined Gross household income of between £16,000 and £60,000. See Income tab.
  • Local Connection - you will have to have at least 12 months local connection to the area you choose to live in to be on the register e.g. living, working or close family contact :- Parents, grandparents, siblings, adult children. Each County has a different Local connection criteria, this will be noted on the scheme's advertisement.
  • You must be able to show the local authority/Registered Social Landlord either that you are not adequately housed or that you can no longer afford to occupy your current home. e.g be unable to afford to buy a property suitable for your family size on the open market or through any other home ownership initiative
  • Not be able to buy a home suitable for your needs without help from Homebuy – Wales.
  • A minimum deposit of 5% is required, subject to the requirements of the mortgage lender.
  • That you are able to obtain a mortgage to cover your contribution and have savings to cover the other costs of buying a home. You will be required to fund up to 70% of the property price, combination of mortgage and savings.
  • Be able to meet the specific criteria set by each local authority/Registered Social Landlord which operate the scheme.
  • Applicants can be in receipt of Housing Benefit or have been in receipt of Housing Benefit in the 12 months prior to their application, but must meet the other criteria, and lenders affordability assessments. However, once applicants are homeowners, they may not be able to claim housing benefit but additional support may be provided via Support for Mortgage Interest (SMI)
  • Be British or an EU/EEA citizen, or have indefinite leave to remain.

  •