Who is Eligible?
We try to assist as many people as possible, providing that people are able to prove that they can both initially raise a suitable mortgage as well as sustain the future costs of being a homeowner.
If you are considering purchasing a home you must firstly speak to a qualified mortgage advisor or Independent Finacial Advisor to establish whether you will be offerd a mortgage for an amount that will be sufficient for you to purchase a home. It is important that you do this, as mortgage lenders are becoming increasingly particular over whom they offer mortgages to.
In addition to you being able to raise a mortgage and afford the monthly costs of home ownership you will also need to;
- Be a UK or EU/EAA passport holder or have Indefinite Leave to Remain stamped in your passport
- Be over 18 years of age
- Be a first time buyer or be able to demonstrate that you are unable to purchase a home outright without assistance
- Have access to enough savings to cover the costs of buying a home. Examples of these costs are solicitor's fees, survey and mortgage arranging costs, and stamp duty. You may also need to have access to an extra deposit for mortgage purposes, for exchange of contracts or to reserve a property if you are buying a brand new home.
Although we primarily aim to assist first time buyers we may still be able to you if:
- You owned a home with a previous partner and the relationship broke down leading to the property having to be sold
- You are a current Hafod shared owner (lessee) and you fulfil all other criteria
- You need to move to the area as part of job relocation
If you currently own your own home you will need to sell your property before you will be allowed to purchase through us. In these situations we review each case individually taking all of your circumstances into account.
Who is not eligible?
We will not be able to help you if:
- You are not a UK or EU/EAA passport holder or your passport is not stamped with Indefinite Leave to Remain
- You are a buy-to-let investor
- You have a County Court Judgement (CCJ) registered against you. If you have previously had a CCJ we will need to see a certificate from the court stating that the CCJ has been repaid in full
- You have previously owned a home that was repossessed in the past 6 years
- You already own a home that you cannot or won't sell
- You have been declared bankrupt in the past 6 years
- You are self employed and do not have:
- Audited accounts for the last 2 years or;
- Copies of your last 2 years tax returns