Help to Buy – Wales: applications now close 31 March 2027 — what it means for South Wales buyers
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Quick answer: The Welsh Government has extended Help to Buy – Wales: applications must now be submitted by 31 March 2027 (the previous deadline was 30 September 2026). The scheme gives you a shared equity loan of up to 20% of the purchase price on a new-build home up to £300,000, on top of a 5% deposit. Because the equity loan is only paid out at legal completion, the build timetable of the specific plot matters as well as the application date. A 95% mortgage is the other mainstream low-deposit route for South Wales buyers, and it isn't restricted to new-build. Checked against gov.wales, July 2026; application deadline re-checked against gov.wales on 8 October 2026.
The deadline, and why completion timing matters too
The published deadline is for applications. gov.wales says: "Applications for the Help to Buy - Wales must be submitted by 31 March 2027." The Welsh Government extended the scheme to that date in July 2026; before that, applications were due to close on 30 September 2026.
Scroll sideways to see every column.
| Deadline | Date | What it means |
|---|---|---|
| Applications must be submitted by | 31 March 2027 | No new Help to Buy – Wales applications after this date (extended from 30 September 2026) |
| Completion | Check before you reserve | gov.wales doesn't currently publish a separate completion deadline for the extended scheme — confirm what applies to your reservation with the scheme, your builder and your conveyancer |
The application date isn't the only timing question. The equity loan is paid out at legal completion (when the purchase goes through and you get the keys). So also ask: "will this plot be built, signed off and legally completed in time for the loan to be paid out?" Before you reserve, get the expected build completion date from the developer in writing. Building schedules slip.
What the scheme gives you
Help to Buy – Wales is a shared equity loan: not a grant, and not a mortgage. The Welsh Government lends you part of the price, secured against the home, and you repay it later as a percentage of the home's value then, not a fixed sum.
- Maximum purchase price £300,000, from a builder registered with the scheme.
- Minimum 5% deposit from you.
- Equity loan of up to 20% of the purchase price.
- You must pay at least 80% of the price with a repayment mortgage (where your monthly payments clear the loan as well as the interest) plus your 5% deposit. The loan tops up normal borrowing rather than replacing it.
- The mortgage must be a first-charge repayment mortgage (the main loan secured on the home) with a qualifying lender. Interest-only mortgages aren't allowed.
- New-build only, through a participating builder. It can't be used on an existing home.
- Affordability limits. The buyers' guide says you're not eligible if you could get a 90% mortgage without the scheme, and your repayment mortgage should be less than 4.5 times your gross yearly income.
On the loan itself, there's no interest for the first five years. From year six, interest is 1.75% of the original equity loan amount, rising each April by the Consumer Price Index (CPI, a measure of inflation) plus 2%, according to the current Help to Buy – Wales buyers' guide. There's also a £1 monthly management fee, paid by direct debit from the start. Repay the loan in full within the first five years and you pay no interest at all.
You can't sub-let (rent out) any part of the home, or rent out a home you already own in order to buy another through the scheme.
How repayment works: the part people misunderstand
This is where the real cost sits. You repay the percentage, not the pounds.
Borrow 20% on a £280,000 new-build in South Wales and the loan is £56,000. If the home is worth £330,000 when you repay (when you sell, remortgage, or buy back the government's share, known as "staircasing"), you owe 20% of £330,000: £66,000. The extra £10,000 isn't interest. It's the government's share of the rise in your home's value, and you owe it whether or not you've ever paid interest.
That isn't a reason to avoid the scheme: sharing the gain is the trade-off for a smaller deposit, and if prices fall, you share that too. But the equity loan isn't "free money for five years". If you're weighing it against a 95% mortgage, compare the two over the whole time you expect to own the home, not just the interest-free years. Our low-deposit routes guide sets the options side by side.
Is it worth using before the 31 March 2027 deadline?
More likely to fit if you've reserved, or nearly reserved, a plot with a registered builder that's due to complete comfortably in time: typically one already built or nearly finished.
Harder to make work if the plot is a long way from completion, because the equity loan is only paid out at legal completion. Rushing a £280,000 decision to hit a paperwork deadline is how people end up in the wrong house on the wrong street.
Worth comparing either way if you're a first-time buyer with around a 5% deposit. The real choice is Help to Buy against a 95% mortgage on the open market, where you'd own 100% of the home, and 100% of any rise or fall in its value, from day one.
What happens after the deadline
No successor scheme has been announced, and that's less worrying than it sounds. Welsh Government statistics record 14,779 purchases using the scheme between January 2014 and March 2025, but only 603 in 2024-25 (Help to Buy – Wales: April 2024 to March 2025, published June 2025). That shows how far the market has moved since 2014. What has changed is that mainstream lenders now widely offer 95% mortgages on new-build and existing homes, which wasn't the case when Help to Buy launched.
The realistic alternatives for a South Wales buyer:
Scroll sideways to see every column.
| Route | Deposit | Notes |
|---|---|---|
| 95% mortgage | 5% | New-build or existing homes, no price cap, no equity share, no scheme deadline. The mainstream alternative for most buyers. |
| Builder incentives | Varies | Deposit contributions and paid Land Transaction Tax are common on Cardiff developments. Lenders generally accept incentives up to 5% of price before adjusting what they lend against. |
| Shared Ownership – Wales | Often 10% of your share; can be higher or lower | Buy 25–75% of the home through a housing association and pay rent on the rest. Still open; income caps apply. |
| Homebuy – Wales | Varies | Equity loan of ~30% on existing homes, aimed at areas short of affordable homes. No monthly payments; availability is patchy in central Cardiff. |
The Welsh Government's July 2026 statement extending the scheme says work is underway to review its home-ownership schemes, but at the time of writing (October 2026) no successor has been announced. Nobody buying now should plan around one arriving.
If you already have a Help to Buy – Wales loan
The deadline doesn't affect you. Your loan carries on as before: interest-free for five years from completion, then 1.75% rising each year as set out in your loan agreement (check it for the measure used), plus the £1 monthly fee throughout.
Two moments are worth planning for:
- Your fifth anniversary, when interest starts.
- Your first remortgage (switching to a new mortgage deal). Not every lender will remortgage a home with a Help to Buy loan still on it, and those that will may treat your loan to value (the mortgage as a percentage of the home's value) differently. Our remortgaging in South Wales guide explains how a product transfer (a new deal with your current lender) differs from a full remortgage when there's a second charge (a second loan secured on the home, here the equity loan).
You can repay part or all of the equity loan early ("staircasing"), at the home's value at the time, which needs a RICS valuation (by a surveyor registered with the Royal Institution of Chartered Surveyors).
FAQ
When exactly does Help to Buy – Wales close? Applications must be submitted by 31 March 2027 (extended from 30 September 2026). gov.wales doesn't currently publish a separate completion deadline, so confirm what applies to your reservation before relying on it.
Can I still apply if I haven't reserved a property yet? Yes, until 31 March 2027, but you need a reserved plot with a registered builder. And because the loan is only paid out at legal completion, the build timetable matters as much as the application date.
What is the maximum property price for Help to Buy – Wales? £300,000, bought from a builder registered with the scheme. It can't be used on an existing home.
Do I have to be a first-time buyer? No. It's open to first-time buyers and home movers, though you can't rent out a home you already own in order to buy another through it.
Is the equity loan interest-free? For the first five years, yes, apart from a £1 monthly management fee. From year six, interest is 1.75% of the original loan amount, rising each April by CPI plus 2% under the current buyers' guide.
How much do I pay back? The same percentage you borrowed, of the home's value when you repay. A 20% loan on a £280,000 home is £56,000 at the start, but £66,000 if the home is worth £330,000 when you repay.
What replaces Help to Buy – Wales? Nothing directly. In practice, 95% mortgages have taken over the role for most buyers, and they aren't limited to new-builds or capped at £300,000. Shared Ownership – Wales is still open, and Homebuy – Wales is an equity loan on existing homes, with no announced closing date.
Does the deadline affect my existing Help to Buy loan? No. Existing loans carry on under their original terms, including the five years interest-free from your completion date.
Where to go next
Our new-build buying guide covers builder incentives, down-valuations (the lender valuing the home below the price) and the reservation timeline. First-time buyers can start with the first-time buyer walkthrough and salary needed in South Wales. And check the Land Transaction Tax guide before you budget: Wales has its own property tax, and a £300,000 purchase is taxed very differently either side of the border.
Sources: Help to Buy – Wales and eligibility criteria, gov.wales, checked 25 July 2026; application deadline re-checked 8 October 2026. Interest terms from the Help to Buy – Wales buyers' guide; the extension from the Welsh Government's written statement of 27 July 2026.
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