We are part of an exciting scheme that allows us to offer low-cost homes to purchase at 70% of their market value.
We have seven properties available on the recently developed Clos Derwen site in Coity, Bridgend. The first two homes are complete and we are looking for potential buyers for these two and three-bedroom homes.
Criteria needed to buy these homes include:
- Over 18 years of age
- A UK or EU / EEA passport holder, or have ‘indefinite leave to remain’ stamped in their passport
- Able to meet the long term financial commitment of homeownership
- Be able to raise a mortgage for the value of the property
- Have access to a deposit; usually 5-15% of the property value
- Meet the affordability criteria and not exceed the maximum income threshold.
The potential purchaser will be buying 100% of the sales value. In addition, we will register the equitable interest of 30% by taking a second legal charge registered with the land registry. This loan does not get paid back, and there is no interest on the 30%. However, the purchasers will not be able to sell the property for the first three years. Read more about the Homebuy-Wales scheme.
How can you enquire?
If you know someone who might be eligible and interested in living in one of these homes, then please ask them to get in touch with: