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Buying

Melin Homebuy logo

Our Melin Homebuy team are experts in helping people get on the property ladder.

DIY Homebuy (Torfaen only)

This option helps you to buy a property of your choice from the open market via an estate agent. The Homebuy scheme mainly helps first time buyers although they may be able to help if you are re-entering the property market.

You’ll need to be able to fund 70% of the purchase price with the other 30% being provided by Welsh Government. There’s no rent or instalments to pay on the 30% loaned; it is repaid in the future when you choose to sell.

To apply you need to register for Help2Own and once accepted onto the scheme you’ll be contacted when opportunities and funding are available. You’ll receive approval to look for a house within a fixed budget which will be based upon your affordability, the property location and your family size.

New Build Homebuy

This option helps you to buy a new build property via a low-cost home ownership (LCHO) scheme. This is provided on a shared equity basis, with the percentage equity varying based on location and property type.

You’ll need to be able to fund your equity stake with access to a mortgage and a 5% deposit. The remaining balance of the purchase price will be funded via Melin. There’s no rent or instalments to pay on the Melin loan; it is repaid in the future when you choose to sell (there are no time limits).

The Homebuy scheme mainly helps first time buyers although the team may be able to help if you are re-entering the property market.

To apply you need to register with the Local Authority (see list below) in the area where you wish to purchase. A proven local connection is required. Once accepted onto the scheme you’ll be contacted when opportunities and funding are available.

Resales

To ensure the continued supply of affordable home ownership there is a requirement that when an owner wishes to sell their Homebuy property it is offered for sale to the current waiting list. This removes the need to pay estate agency fees and offers the property at a fixed price to a waiting pool of buyers.

This method sees sellers able to move on whilst giving first time buyers the opportunity to get onto the ladder with enhanced affordability.

Contact our Melin Homebuy team

If you’re interested in any of the home ownership options (DIY, new homes and resales) please email: homes@melinhomes.co.uk or call 01495 745911.

I just wanted to thank you and your colleagues for all your help and support with my house purchase. I am delighted with the new house, even though my life is currently still packed in cardboard boxes!

Peter — New home owner

The small print

Properties and funding are subject to change so it is best to contact Homebuy Team and your Local Authority for the latest offers.

All opportunities will be offered to registered applicants from the Local Authorities affordable housing register and will also be advertised on our Melin Homebuy Facebook page.

Equity loan redemption is based upon current market value at the time of repayment.

Potential mortgage lenders include Halifax, Nationwide, Lloyds, TSB and The Leeds. Mortgage lenders will require you to have a 5% deposit based on the full market value of the property. We recommend that you seek independent financial advice.

Your home is at risk if you do not keep up repayments on the mortgage or a secured loan.