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Developer applauds Help to Buy – Wales as 500th couple buy their dream home

Developer applauds Help to Buy – Wales as 500th couple buy their dream home

New development at Llandudno Junction.

Developer applauds the Help to Buy – Wales as 500th couple buy their dream home

Beech Developments applauds Help to Buy - Wales as the 500th couple to buy their dream home through the scheme.

Beech Developments applauds Help to Buy - Wales as the 500th couple to buy their dream home through the scheme move into their new development at Llandudno Junction.

The company is one of more than 100 builders who have signed up to the scheme. It has seen a real improvement in the marketplace since Help to Buy - Wales was introduced in January 2014 and says it is enabling many people in the Conwy area to realise their dream of owning their own home.

In the first eight months since the scheme launched in Wales, Beech Developments have secured 11 Help To Buy - Wales related sales, seven to first time buyers and four to home movers.

The scheme has proved especially popular for people buying houses on the company's new Gwel y Castell development in Llandudno Junction. 

Matthew Gilmartin, Managing Director of Beech Developments, said:

"It has been a great source of help to those who have struggled to save more than a 5% deposit with some lenders only offering a 90% mortgage in the market place.

"And it’s great news that most of our customers at Gwel Y Castell are local people. In our experience the Help to Buy - Wales Scheme has helped local people stay local and it’s been great for the area.

"Our two and three bedroom semi detached homes and two bedroom garden apartments have proven the most popular under this scheme.

"We hope to see more Help to Buy - Wales customers at our new development, Gwel Y Mynydd also in LLandudno Junction in the near future."

Local business owners Lisa Walker and Gareth Lavin are the 500th couple in Wales to buy a house through Help to Buy-Wales. They have been able to purchase a contemporary three bedroom semi- detached family home on the development.

Lisa said:

"We had been saving for ages for our deposit and the dream of owning our home seemed so far away even though we had a 5% deposit. When we heard about the Help to Buy-Wales Scheme and realised we met the criteria we were over the moon.

"Now we have our very own new home and we are so happy. It gives us a focus to ensure more than ever that we make a success of our business. I highly recommend the scheme to anyone. It was a surprisingly easy process."

It is hoped that Help to Buy – Wales will support the sale of around 5,000 new homes over the next two years, more than 40 of which are forecast to be in the Conwy area.

As well as helping people own their own homes, Help to Buy - Wales will also give a boost to the construction industry and the economy.

Help to Buy - Wales: Shared Equity Loan

Other Help to Buy schemes in Wales:

Forces Help to Buy expand
Help to Buy logo

Regular armed forces personnel can benefit from a £200 million scheme to help them get on the property ladder.

The Forces Help to Buy scheme enables servicemen and servicewomen to borrow up to 50% of their salary, interest free, to buy their first home or move to another property on assignment or as their families needs change.

Details are available on the
UK Government website

Help to Buy: ISA expand
Help to Buy logo

You can put away up to £200 a month in a Help to Buy: ISA that the government will then top up by 25%, up to a maximum of £3,000.

In the first month you’re also able to put away £1,200 - that’s an extra £1,000 on top of the monthly maximum of £200.

Details are available on the
Help to Buy website

Other affordable housing schemes in Wales:

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Buying a home with a Help to Buy – Wales shared equity loan couldn’t be easier, all buyers need to do is: Find a Help to Buy – Wales property from a registered builder The first step in buying a new home with a Help to Buy – Wales shared equity loan is to find an eligible property being offered by a builder who is registered with the initiative. Builders who are registered with Help to Buy – Wales will provide details of all eligible properties on their websites, at their developments, in ...
Eligibility Am I eligible for a Help to Buy - Wales shared equity loan? Details of the eligibility criteria for Help to Buy - Wales can be found here: Are you eligible? Does Help to Buy - Wales apply to anyone living in Wales? Yes, the Help to Buy - Wales shared equity loans are available to all people looking to purchase a home in Wales who meet our eligibility criteria. England and Scotland have their own shared equity loan products for new build properties (costing up to £600,000 and...