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 for people who can get a mortgage but cannot afford a suitable home on the open market. You would buy a new-build home from the developer or for resales from the current owner.
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, you can receive emails of homes for sale. You will also be able to see the homes for sale on our website, and on our Canfod Cartref /Home Finder site. If you see a home you're interested in buying, you will need to ensure your application is up to date with details of your:
- savings; and
- family members who are moving with you, including whether you will be buying the home with someone else.
You will also need to provide 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.
If you see a home you would like to buy you will express your interest in the home by ‘bidding’. A bid has no monetary value. It 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. If we have more than one person wanting to buy a home we will nominate a buyer according to our Affordable Homes Policy.
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