Help to buy a home
If you're considering buying a home but are struggling to find something you can afford, we may be able to help. Affordable homes are aimed at people who can get a mortgage but cannot afford a suitable home on the open market. The council do not sell the homes, you would buy the home from a developer.
The affordable homes are usually sold on a shared-equity basis. This is when you buy a percentage of the home and we keep the remaining share.
We may be able to help you if the following apply.
- You can show that you can get a mortgage and have money for a deposit and legal fees. (The deposit that you will need will depend on your mortgage provider’s lending criteria.)
- Your total household income before tax is less than one third of the open-market value of the home.
- You live in, or work full-time in, Carmarthenshire, or you have a long-standing local connection to Carmarthenshire, such as immediate family within the area.
We will give priority to council and housing-association tenants in Carmarthenshire. We will not consider you if you:
- currently own, alone or jointly, another home, unless you cannot live there (for example, after your relationship has broken down);
- will not give us details of your income and savings; or
- are a cash buyer.
Once you've registered with us for an affordable home, we will email you when affordable homes are coming up in areas you have chosen. You can also check the homes for sale page on our websites, which we update regularly. If you see a home you're interested in buying, you will need to ensure that the information on your application is correct with details of your:
- savings; and
- family members, including whether you will be buying the home with someone else.
We will also need a mortgage certificate from a bank or building society confirming that they will give you a mortgage for the amount you need to buy the home.
You will 'bid' for a home you are interested in. 'Bidding' means putting forward your interest in the home. We will assess your 'bid' to buy an affordable home using the criteria in our Affordable Homes policy. If you are nominated to buy an affordable home, we will ask you to fill in a statutory declaration. This is a formal statement, signed in the presence of a commissioner of oaths, (this is someone, such as a solicitor, who is authorised to verify oaths and other legal documents) confirming that the information you have given us is true. If you tell a lie in a statutory declaration, this may be a criminal offence.
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