Generally, lenders prefer a deposit of at least 5-20% of the property’s value. However, with the Help to Buy-Wales scheme, you may be able to purchase a property with a deposit as low as 5%.
Overall, the deposit amount required for a mortgage in Wales varies depending on the lender and the type of mortgage you choose.
Mortgage affordability in Wales is assessed by lenders based on factors such as your income, employment status, credit history, monthly expenses, and the loan-to-value ratio (LTV).
Lenders use these factors to determine the amount they are willing to lend you and the interest rate they will offer.
Help to Buy – Wales provides a shared equity loan to buyers of new-build homes. Here is a cost breakdown for if you use Help to Buy – Wales to purchase a home worth £200,000:
| For a property worth £200,000 | Percentage | Amount |
| Cash deposit | 5% | £10,000 |
| Shared equity loan | 20% | £40,000 |
| Your mortgage | 75% | £150,000 |
At Deedle, our team of mortgage advisors is fully dedicated to providing support throughout your entire mortgage journey. From the initial consultation until the finalisation of your mortgage, we are committed to offering guidance and assistance at every stage.
Leveraging our extensive knowledge of the Welsh mortgage market, we diligently search through thousands of mortgage options to identify the one that aligns perfectly with your unique circumstances and requirements. Our primary objective is to ensure a seamless and hassle-free experience for you. We handle all the essential paperwork, facilitate communication with lenders on your behalf, and strive to make the process as smooth as possible.
Regardless of whether you have a less-than-perfect credit history, are self-employed, or are in retirement, our team of experts specialises in finding mortgages that cater to a wide range of needs.
Deedle can help you get a mortgage anywhere in Wales. Locations include but are not limited to:
Cardiff
Swansea
Newport
Wrexham
Barry
Neath
Cwmbran
Llanelli
Merthyr Tydfil
Bridgend
Port Talbot
Pontypridd
Aberdare
Caerphilly
Colwyn Bay
Rhyl
Pontypool
Bangor
Carmarthen
Flint
Prestatyn
Yes, foreign residents are generally allowed to buy property in Wales. However, foreign buyers may be subject to certain additional considerations and regulations. For instance, if you are a non-resident of the UK for tax purposes, you may be subject to different tax rules and obligations when purchasing and owning property in Wales.
Yes, the Welsh Government offers various grants and schemes to promote energy-efficient home improvements. The Nest scheme provides free advice, support, and potential financial assistance for energy-saving measures such as insulation and boiler replacements. The Renewable Heat Incentive (RHI) scheme offers financial incentives for renewable heating systems.
The Land Transaction Tax is a tax imposed by the Welsh Government on properties purchased in Wales. It replaced the Stamp Duty Land Tax in Wales in 2018.
Yes, you can remortgage your property in Wales. Remortgaging involves switching your existing mortgage to a new lender or renegotiating the terms with your current lender.
Yes, it is possible to get a mortgage in Wales even if you have a poor credit history. Deedle considers people with all sorts of credit history.
