Leading housebuilder Lovell Homes is encouraging property seekers to consider its popular development Ymyl Yr Afon in Merthyr Vale, where the Government-backed Help to Buy Wales: Equity Loan scheme is available.
The Welsh Government recently announced that the scheme, originally ending in March 2021, is set to be extended for an additional year to March 2022, with plans to further extend the scheme until 2023 subject to available funding.
From April next year, the price cap on homes available to purchase using Help to Buy will be reduced from £300,000 to £250,000. The scheme will also not be restricted to first-time buyers, providing support for all purchasers looking to move to a brand-new home.
Darren Romais, independent mortgage advisor at ABP Mortgages Ltd said: “Buying a home comes with a real sense of achievement and getting on the property ladder is an aspiration for most people. There has definitely been a recent increase in the amount of people buying homes in Wales, thanks to the Help to Buy Wales scheme.”
Deb Hurley, also an independent mortgage advisor and Darren’s sister, who joined ABP Mortgages Ltd due to its growing success, said: “I’ve had many clients who thought that owning their own property would be out of their reach. Help to Buy is a fantastic scheme; there are currently no other mortgages that will allow you to buy with a 5% deposit, so using this scheme may be the only opportunity that many have to purchase their own home.
“Homeowners also don’t have to repay the equity loan for the first five years, which allows purchasers to keep their payments low in the early years whilst starting out in their new home.”
Help to Buy Wales is available on homes at Ymyl Yr Afon, enabling first and second-time buyers to purchase a brand-new home with just a 5% deposit. The remainder is made up from an equity loan of up to 20% of the full price of the property and 75% mortgage. The equity loan is interest free for the first five years.
Located between Merthyr Vale and Aberfan, Ymyl Yr Afon consists of two, three and four-bedroom homes, all of which have been thoughtfully designed with their own unique character whilst projecting Lovell’s unmatched quality, striking style and outstanding value.
Julie Bowen, regional sales director for Lovell, said: “For most people, buying a house is one of the biggest investments they will ever make, and it is important to us at Lovell Homes that people receive the best possible value.
“The properties at Ymyl Yr Afon are ideal for first-time homebuyers looking to take their first steps on the property ladder. We have a variety of stunning homes that are well-suited for many different lifestyles and requirements. I would encourage anybody interested in taking advantage of the Help to Buy scheme to make an appointment with our sales team to find out more.”
Deb commented: “I love Ymyl Yr Afon, it’s so peaceful and has a lovely outlook. It has really good transport links too, with the train station and A470 nearby making it suitable for commuters.”
Current availability includes three-bedroom homes priced from £178,995.
Following the recent announcement of further lockdown restrictions across Wales, appointments at Ymyl Yr Afon will be taking place remotely. For more information contact the sales team on 01685 868 245.