Wrexham: New Rhosrobin homes a hit with first-time buyers
Castle Green Homes has revealed that 66% of its homeowners at Llys y Coed in Rhosrobin are people stepping onto the housing ladder.
Most of them – 58% – took out an equity loan under the Help to Buy Wales scheme to help make homeownership easier to afford.
Sian Pitt, Castle Green Homes sales director said: 'First time buyers have accounted for the majority of our homeowners at Llys y Coed so far and in most cases they've used Help to Buy Wales.
"The success of the scheme here demonstrates that it really does what the name suggests – it helps people buy their own home. It's only available on new build homes, priced up to £300,000 and we only have a couple of properties left within that price range now.
"We'd encourage anyone thinking of using Help to Buy Wales to get in touch without delay. We'll be able to link them up with independent financial advisors to help them on their home buying journey.'
The three-bedroom detached Oxford, priced from £294,995, is available with Help to Buy Wales.
Someone purchasing in this way should typically only need a 5% deposit and 75% mortgage as the remaining 20% is covered by an equity loan. That loan is interest free for five years.
Across Llys y Coed, the scheme has been used by 40% of purchasers, including first time buyer Phoebe Hughes.
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The 27-year-old said: "I'd been saving for the last five or six years and tried to get into the habit of putting the same amount away every month so it wouldn't be a massive shock paying my own bills.
"Towards the end of last year, interest rates were starting to drop and I spoke to mortgage advisors as I'd got to the point where I had a pretty decent deposit.
'Help to Buy made a massive difference as I'm a single buyer with just one salary and wouldn't have been able to buy this house without it. I could have bought with a 5% deposit but decided to put down a bit more to bring the monthly mortgage repayments down.'
Show homes at Llys y Coed are open daily from 10am to 5pm.
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