Cyngor Gwynedd, GB approves its own version of national Homebuy Scheme for local market conditions

Cyngor Gwynedd, GB Own Version Local Market Homebuy Scheme

First-time homeowners receive equity loans covering the differences between available mortgages and purchase prices under the scheme. The council's expanded program increases the income limit from £45,000 to £60,000. Local buyers can borrow up to 50% of the property's value with a maximum purchase price of £300,000 under this scheme. Cyngor Gwynedd's four-year, £13,000,000 version is funded by taxes on second homes and a contribution by the Welsh government.

CG

Cyngor Gwynedd, GB

Unitary authority in Wales

United Kingdom