Schemes

• Where rents are above social rented housing and below market housing rents.
• Some properties are set at the Local Housing Allowance rate - Local Housing Allowance.
• A month's rent and a deposit will be required by some landlords, this will be noted on the property advert.
• Credit checks, current landlord referencing & employment checks may be required by some landlord.
• Households must be able to afford the housing costs (‘rent’ including any service charges) and these should equate to no more than approximately 30% of your income e.g. £25,000 x 30% = £7,500 / 12 (months) £625pcm.
• Local Connection - The applicant will be required to comply with Local Connection criteria as noted on the property advert.

• Rent to Own - Wales supports the purchase of a home for those who do not have sufficient funds for a mortgage deposit.
• The scheme enables tenants of rental properties within the scheme, to build up a lump sum toward a deposit whilst they rent their home.
• The lump sum toward the deposit can then be used to help secure a mortgage to enable the purchase of the home.

With Rent to Own - Wales:

• you will have the opportunity to purchase the home you are renting and can build up a lump sum towards a mortgage deposit whilst renting the home.
• you will initially rent the home and can receive 25% of the rent paid over the duration of the tenancy and 50% of the increase in the property value (if any) during the period of time you have rented the property to use as a deposit towards purchasing the property.
• your Rent to Own - Wales agreement lasts up to 5 years, you can apply to buy your home at anytime between the end of the 2nd year and the end of the agreement.
• Please note: we consider your credit history as part of the application for a rent to own property and we may ask for evidence of your credit rating.
• If you decide not to purchase the property, the deposit element will NOT be refunded.
• Click on the link for further information on the rent to own scheme Rent to Own – Wales | GOV.WALES

• A scheme supported by the Welsh Government to help buy a property on the open market.
• 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.
• Local Connection - you will have to have at least 5 years of 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. As each County has a different Local connection criteria, this will be noted on the scheme's advertisement.
• You are not able to buy a home suitable for your needs without help from Homebuy – Wales.
• 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.
• A minimum deposit of 5% is required, subject to the requirements of the mortgage lender.
• Local authority/Registered Social Landlord will lend the remaining 30% to you. In certain circumstances, the loan can be increased to 50%.
• The loan will be secured against the property, rent or interest will not be payable on the loan.
• When your circumstances allow you, you can pay your % loan back to local authority/Registered Social Landlord .
• 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 / Help to Buy - Wales Buyers' Guide (gov.wales)

• Shared equity is offered on properties purchased directly from a developer, housing association / local authority or re-sale properties.
• The properties are sold at a discount below the open market and the % reduction is agreed during the planning process.
• The applicant will be required to comply with the eligibility criteria of Section106. (Council Legal Document).e.g Local Connection.
• You must have a repayment mortgage for the % of the home you are buying.
• The equity loan can vary, and you would be required to fund the remaining % with a combination of mortgage and/or savings.
• The equity loan will be secured against your property, no rent or interest is payable on the loan.
• A minimum deposit of 5%, subject to the requirements of the mortgage lender.
• In certain circumstances you will not be able to repay the % equity and will therefore not be able to staircase to 100% ownership.
• There is an assessment fee of £75.00.

• A developer builds houses and sells them on at a discounted price that is lower than the open market.
• The discount % is agreed during the planning process.
• Applicant will be required to comply with the eligibility criteria of the Section106. (Council Legal Document) e.g. Local Connection.
• Discount can vary and you would be required to fund the remaining % with a combination of mortgage and savings.
• A minimum deposit of 5%, subject to the requirements of the mortgage lender.
• There is an assessment fee of £75.00.

• Applicant can buy a % of the home and pay rent on the remaining %.
• You can buy an initial % that will be between 25% and 75% of the value of the property.
• A minimum deposit of 5%, subject to the requirements of the mortgage lender.
• You need a combination of mortgage and/or savings to fund the equity share % that you are buying.
• You can increase your share in the property at any time up to the % noted on the lease.
• The leaseholder will be responsible for maintaining the property even if you pay a % of rent.
• The lease will outline your responsibility for the property.
• For further information on the scheme please click on the link Shared Ownership – Wales | GOV.WALES

• Applicants who want to build a property on their own land.
• You will be assessed against the criteria set by the Local Authority in line with their Supplementary Planning Guidance - Affordable Housing.
• Housing need refers to households lacking their own housing or living in housing which is judged to be inadequate or unsuitable, who are unlikely to be able to meet their needs in the housing market without some financial assistance.
• Affordable Housing - Housing provided to those whose needs are not met by the open market.
• You will need to provide information as noted in the Tai Teg process.
• Proof of land ownership is required.
• Proof of mortgage and/or savings is required.
• Once Tai Teg have completed the assessment it will be forwarded to the relevant Local Authority to be considered as part of the Planning Process.
• The land will be subject to a Section 106 agreement with your Local Authority. Please contact the Local authority for further advice and guidance.
• There is an assessment fee of £75.00