HomeBuy is a Government backed scheme to help provide affordable housing. The scheme is for eligible first time buyers, who cannot afford to purchase a property outright off the open market, but can afford to meet 70% of the purchase price through a mortgage and/or savings.   

United Welsh provides the remaining 30% in the form of a loan. There are no repayments due on the loan but it has to be re-paid when the property is sold.  The loan may be paid back at any time, but not before the first 12 months of occupation. 

Example:

There are maximum purchase price limits for homes bought through HomeBuy. These limits are calculated by the local authority and relate to family size. Below is a table outlining the maximum purchase price limits for houses in the local authority areas of Caerphilly and Blaenau Gwent for 2006 / 2007.   

For example, if you are a single person looking to buy a property within the local authority area of Blaenau Gwent, the cost of this property must not exceed £88,900.

Alternatively, a family with three children looking to buy in the local authority area of Caerphilly must find a property that does not exceed the value of £170,400. 

For more information on the costs involved in buying your own home, please click here.

United Welsh receives funding from the Welsh Assembly Government to provide the HomeBuy scheme at the commencement of the new financial year, ie April.  Grant has to be claimed from the WAG by no later than the following March. 

This scheme, however, is not permanently available and it is not guaranteed to run from one year to the next. 

The scheme operates on a first come, first served basis and funding is limited, therefore, not all eligible applicants will receive assistance.  It may be necessary to place applicants onto a waiting list so that they can be considered when the next allocation of funding is received.