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Swansea housebuilder buoyed by help to buy boost

THE New Year brought great news for Welsh homebuyers as the Government launched its highly anticipated equity loan scheme.

Introduced on January 2, the positive effects of Help to Buy – Wales are already being felt by one housebuilder.

After successfully registering to offer the scheme, Elan Homes, building at Parc Gwyn Faen in Gorseinon, has received numerous enquiries from would-be purchasers about the initiative.

Help to Buy in Wales

Andrea Nippe, sales director for Elan Homes in the South, said: “We know from our experience of building in the area that homebuyers have been waiting for the scheme to launch for some time. It’s fantastic news that they can now access the valuable help that’s been available to purchasers in England since last April.

“Mortgage availability is still an issue for many people. Even if they can easily afford the repayments many have been unable to save for the large deposit required by many lenders.

“Now, with the assistance of Help to Buy – Wales, homebuyers have been thrown a lifeline. The valuable initiative enables them to purchase a home up to the value of £300,000 with just a 5% deposit. The remaining amount is covered by a 20% equity loan from the Welsh Government, which is interest free for five years, and a 75% mortgage from their chosen lender.”

Even prior to the launch of Help to Buy – Wales, Parc Gwyn Faen, close to the picturesque Loughor estuary, had been enjoying a steady flow of interest, with several properties already sold.

The four-bedroom ‘Belvoir’ show home, which means ‘beautiful view’, is open for customers to see first-hand the high specification available.

Parc Gwyn Faen, on Brynafon Road, will eventually feature a total of 30 three and four-bedroom homes forming a brand new community. Its picturesque location, close to the River Loughor and on the doorstep of the magnificent Gower Peninsula, has been a major selling point. Prices are from £145,995 to £199,995.

Gorseinon is just a couple of miles from the M4 offering easy access to nearby or Cardiff and Mid Wales. Gowerton railway station is only 15 minutes away with regular trains to London and the Midlands.

To discover everything Parc Gwyn Faen has to offer visit the show home and marketing suite Thursday to Monday, from 9.30am to 4.30pm. To find out more call Elan on 01792 229335