Frequently Asked Questions - Purchase

Q. How much savings can I have to be eligible to be on the register?

A. This is dependent on the scheme you considering or/and the purchase area. We consider the maximum purchase price by assessing each individually and follow Welsh Government figures - 5% max purchase price, and 3.5 income / Joint income.

Q. Homebuy Scheme maximum purchase price ?

A. The Welsh Government states what the purchase price will be for every area. The Tai Teg team will use this guidance when assessing the purchase of a Home Buy property.

Q. After I have been approved and placed on the register, how can I apply for a property?

A. After you are approved by Tai Teg and placed on the register you can then visit the Find a Home’ page and look for properties. Normally each property will have a local connection criteria that must be met (please see property information) After you have declared an interest for a property, Tai Tag will then invite you to upload supporting documents as part of the second process. Following receipt of the information within the specific timescale (See below 'supporting documents – Part 2)Tai Teg will complete a financial assessment and confirm if you have a local connection and family size are eligible for the property.

Q. Partner / Spouse on application

A. If you have a partner / spouse you must complete them as a “joint applicant”, and not under “Add another Family Member”

Q Why do I have to pay and fee of £75.00?

A. The fee is for the administration and assessment work carried out by Tai Teg (financial and local connection assessment) for you to be considered for a property. The fee of £75 is payable at the start of the process when applying for a property, and We will not be able to start the assessment process if payment is not received

Jargon Buster :

These are some of the terms and common words that you are likely to come across on our website and in the process of your application. Please use this to help you better understand these common words and phrases. A useful list for anyone looking to purchase a property via Tai Teg.

  • Housing Association

A blanket term for Not for profit organisations that have the aim of making homes available and affordable for all.

  • Affordable Housing

Housing built by Housing Associations or Registered Providers, with subsidies from the Government.

  • Gross household income

Gross income refers to the total amount earned before taxes and other deductions, just like annual salary.

  • Net income

Net income refers to your income following deductions, i.e tax and National Insurance payments.

  • D.I.P (Decision in Principle) /Agreement in Principle –

This is a written estimate from a mortgage lender, giving you an indication of how much money you can borrow.

  • Completion

The finalising of the sale when all the monies are passed over and the buyer has the legal right to take ownership of the property.

  • Equity – (relevant to home owners)

The value of the property less any money that you owe that is secured against it.

  • S106 (Section 106)

A section 106 agreement is an agreement between a developer and a local planning authority about measures that the developer must take to reduce their impact on the community.

Need help?

If you need help filling out any part of your application then please feel free to contact us on any of the details below:

Phone: 03456 015 605

Or alternatively, you can visit our help pages to find out more.

Register with Tai Teg

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