NEW homes near Swansea could be easier to afford thanks to the extension of a Government scheme.
The current phase of Help to Buy Wales was due to close at the end of March but has been extended for two years, until March 2025, with applications for the new scheme now open (from April 5).
With the deadline extension, also comes an increased price cap from £250,000 to £300,000 and a condition that homes purchased in this way need to reach a minimum of Energy Performance Certificate (EPC) B.
The changes to the scheme mean there will be a greater choice of homes available under Help to Buy Wales at Parc Ceirw Garden Village in Morriston.
Edenstone Group sales director Adele McCoy explained: “Help to Buy has proved to be invaluable to thousands of home buyers across Wales, including some of our homeowners at Parc Ceirw Garden Village. The extension of the scheme, combined with the increased price cap, has the potential to make a real difference to people’s lives. For some it will mean they’re able to buy sooner than they anticipated, while others will be able to buy a bigger home, better suited to their current and future needs. The advantage in buying in this way is that typically they should only need a 5% deposit to secure a property using Help to Buy Wales. Plus, because they only need a 75% mortgage, they should be able to access rates usually reserved for those with more substantial savings.”
Using Help to Buy Wales, the buyer must provide a minimum 5% deposit. The scheme provides an equity loan for up to 20%, meaning the buyer will need to take out a mortgage for the remaining amount.
Among the homes at Parc Ceirw eligible for Help to Buy Wales is the two-bedroom Ashmore, available on the Bluebell Homes phase from £222,500.
The Ashmore features a combined kitchen and dining room at the front, with the lounge spanning the width of the rear of the property. French doors offer lots of natural light into the lounge, while also providing easy access to the garden. A cloakroom completes the ground floor.
Upstairs, there are two bedrooms and the family bathroom.
Just released for sale on the Edenstone phase, are the two-bedroom Bournemouth and three-bedroom Boscombe bungalows priced from £290,000.
Between the two brands there’s a good choice of two, three and four-bedroom properties available.
The new community will also feature a host of facilities to enable residents to enjoy a healthier way of living including an equipped, circular outdoor fitness trail and a gym within a community hub.
The sales office and show homes at Parc Ceirw Garden Village are open daily from 10.30am to 5pm.