Buying a home

DIY Homebuy

This option helps you to buy a property of your choice from the open market via an estate agent. It’s only available in Torfaen, Monmouthshire and Powys.

The Homebuy scheme mainly helps first time buyers although they may be able to help if you are re-entering the property market.

You’ll need to be able to fund up to 70% of the purchase price with the balance being provided by Welsh Government. There’s no rent or instalments to pay on the equity loan; it is repaid in the future when you choose to sell.

How to apply

To apply you need to register for affordable home ownership with the local authority. Once accepted onto the scheme, you’ll be contacted when opportunities and funding are available. You’ll be told when you can start looking for a house within a fixed budget.

This will be based on:

• your affordability
• the property location
• your family size

Resales

To ensure the continued supply of affordable home ownership there is a requirement that when an owner wishes to sell their Homebuy property, it’s offered for sale to the current waiting list. This removes the need to pay estate agency fees and offers the property at a fixed price to a waiting pool of buyers.

This method sees sellers able to move on whilst giving first time buyers the opportunity to get onto the ladder with enhanced affordability.

The small print 

Properties and funding are subject to change so it’s best to contact our Homebuy Team and your local authority for the latest offers. 

All opportunities will be offered to registered applicants from the local authorities affordable housing register and will also be advertised on our Hedyn Homebuy Facebook page.