Tai Teg

Linking People with Home Ownership Opportunities

Am I eligible to apply?

Tai Teg is for the residents of Anglesey and Gwynedd who are interested in intermidate rent or buying a home locally.

The definitions of ‘local’ and ‘need’ are as follows:

Local:

Households that have a 5 year connection either through residency, family or work to the County where they want to live. For more information please refer to the Counties Supplementary Planning Guidance document – see useful links under contact heading.

Need:

Households whose incomes are insufficient to allow them to buy a suitable home for their needs on the open market. For more information please refer to the Counties Supplementary Planning Guidance document – see useful links under contact heading.

Eligibility can be summarised as follows:

Am I:
  • a local person?
  • unable to buy a home on the open market?
  • Is your household income above £16,000 ? if No please contact the Housing Options Team in your County for Advice. Details noted below.
  • able to pay a deposit of at least 5% (shared equaity) or 20% (new builds) ?
  • able to afford to pay rent whilst intending to buy in the future?

How much can I afford?

  • It is important that all applicants obtain independent financial advice.
  • Most mortgage assessments are based on 3.5 x income for single person application and 3 x income for joint application but savings, individual circumstances and liabilities are also taken into account.
  • Mortgage lenders determine the percentage of deposit required and the interest rate.
  • Generally a higher deposit may means lower interest rates are charged.
  • The additional costs of buying a home should also be considered.
  • Your home is at risk if you do not keep up your payments on a mortgage.

For Example:-

  • A new build property is being sold on the open market – terrace house for £120,000
  • A 30% discount is on the property to make it affordable £84,000
  • You will require a 20% deposit on the new build £16,800
  • You would require a mortgage of £67,200

If you have no savings to contribute you may want to consider contacting the Housing Options Team within your Local Authority to discuss renting opportunities.

  • Anglesey County Council: – 01248 751850 housing@anglesey.gov.uk
  • Gwynedd Council 01286 685100 housingoptions@gwynedd.gov.uk

If you have answered ‘Yes’ to the above, please register your interest by completing the Tai Teg Registration form.

Cymraeg