Gwynedd Homebuy scheme helps local people buy homes

Many people in Gwynedd find it difficult to afford a suitable home on the open market, but the Gwynedd Homebuy scheme provides support to eligible applicants to help them become homeowners.

The Gwynedd Homebuy Scheme is an equity-sharing initiative that helps local people purchase homes on the open market within their own communities. Since its launch in 2022, the scheme by Cyngor Gwynedd, in partnership with Tai Teg and the Welsh Government, has helped 62 households purchase a home in Gwynedd.

Through collaboration with the Dwyfor Second Homes and Affordability Pilot, the maximum property value eligible for purchase has recently increased. In exceptional cases, properties worth up to £350,000 can now be considered—an increase of £50,000 from the previous threshold of £300,000.

Its main features are:

• Eligible buyers can use the scheme to buy a home on the open market.
• Loans available between 10% and up to 50% of a property's worth.
• Maximum property worth that can be bought - £300,000 (£350,000 in exceptional circumstances).

 

This is one of many schemes by Cyngor Gwynedd to ensure that more people have access to affordable housing in the county through the Housing Action Plan. Other plans include building more houses, bringing empty houses back into use and tackling homelessness by developing more supported housing in the county.

An individual from Pen Llŷn who has received support through the scheme said:

"I heard about the Homebuy scheme through a family member, and after reading more about it I really thought there was a catch of some sort as it sounded too good to be true. I went on to apply through Tai Teg, and the whole process was quick and smooth, with plenty of support from the officers. We managed to buy a house with the help of the scheme within our community, something that would never have happened with house prices so high there. I would encourage anyone looking to buy a house to look for more information about the scheme."

Councillor Paul Rowlinson, Cyngor Gwynedd’s Cabinet Member for Housing and Property, said:

"We are in the middle of a housing crisis and it’s essential that we do everything we can to help the people of Gwynedd with their housing situation. The number of people who have received help through this scheme clearly shows that there is a demand for the scheme and that it’s a scheme that works.

"It’s also important that we review our housing plans constantly to ensure that the criteria reflect the true situation for the people of Gwynedd. House prices have risen enormously over the last few years we have listened, and now the Gwynedd Homebuy scheme in some circumstances can help towards buying houses worth £350,000. Working together with the Welsh Government and Tai Teg means that we can combine our resources and reach even more people throughout Gwynedd.

"It is a difficult time for local people who want to buy a home in their communities, but help is available. I encourage anyone who wants more information to go to the Council's website, and if you are eligible for the scheme, go and register with Tai Teg as soon as possible."

Welsh Government Cabinet Secretary for Housing and Local Government, Jayne Bryant MS, said:

“It’s wonderful to see how our work with Cyngor Gwynedd and Tai Teg has helped so many people buy a home in their community.

"The Dwyfor pilot has taken a fresh approach to Homebuy, and the results speak for themselves - more families and individuals have become homeowners than ever before. I would encourage anyone who might be eligible for this scheme to register today.”

All the information about the scheme can be seen on the Council’s website: Gwynedd Homebuy

To register, make an application or ask a question about the scheme, go to the Tai Teg website: Hafan | Tai Teg

03456 015 605  

info@taiteg.org.uk