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Cymorth iBrynu - CymruHelp toBuy - WalesHelp to Buy – WalesBuyer’s GuidePhase 3www.gov.wales/helptobuy

2Help to Buy – Wales Buyers’ GuideContentsYour guide to a Help to Buy – Wales: Equity Loan4What is a Help to Buy – Wales: Equity Loan?4Who provides the loan?4Key things you should know before taking out a Help to Buy – Wales: Equity Loan5How does it work?6Am I eligible?7Quality standards8Lease restrictions on Help to Buy – Wales homes9Estate Management Fees9How to apply10Buying your new home with an equity loan:11– Stage 1: Applying11– Stage 2: Authority to Proceed12– Stage 3: Mortgage offer and exchange of contracts13– Stage 4: Completing the purchase14How long does it take to buy a new home with an equity loan?15Repaying your equity loan16– You may pay back more than you borrow16– Work out what you need to repay16Understanding your interest payments17

Updated January 20213Differences in interest payments18What happens if the Consumer Price Index (CPI) is below 0%?18Equity loan fees and costs19Help to Buy – Wales: Equity Loan and mortgages20Add and remove homebuyers from the equity loan20Structural alterations21Other restrictions21Changes in the housing market could affect your property price22Glossary24

4Help to Buy – Wales Buyers’ GuideYour guide to a Help to Buy – Wales:Equity LoanThis guide provides useful informationabout Help to Buy – Wales: Equity LoanPhase 3 (from April 2021), a homeownership scheme. It will help you tounderstand what is involved in taking out anequity loan, how it works and how to apply.The principles of the Welsh Government’sEquity Loan scheme are to providesupport to people who want to becomehomeowners, who would not otherwisehave access to an affordable mortgageor be able to get onto the property ladder.What is Help to Buy – Wales?Help to Buy – Wales is an equity loan fromthe Welsh Government that you put towardsthe cost of buying a newly built home.Help to Buy – Wales aims to providesupport to people, who would not be ableto get onto the property ladder without thesupport of the scheme.If you’re eligible for an equity loan, you canborrow up to 20% of the market value of anew home.When you take out an equity loan, you onlypay interest on the amount you borrowed.You should be aware that the interestpayments you make do not go towardsrepaying your equity loan.You cannot make monthly repayments toreduce your loan, but you can choose torepay it all or in part at any time. If you sellyour home, you will need to repay all ofyour equity loan.You can only apply for Help to Buy – Walesif you reserve your new home with a Helpto Buy – Wales registered homebuilder.Who provides the loan?Help to Buy – Wales: is provided by Help toBuy – Wales Ltd, the administering agentsappointed by the Welsh Government.

Updated January 20215Key things you should know before takingout a Help to Buy – Wales: Equity LoanHelp to Buy – Wales: Equity Loan is nota discount scheme or a price reduction –the purchase price of the new home will bethe same whether you buy with or withoutan equity loan.The equity loan is not “interest free” –We do not charge interest for the first5 years of the equity loan, but you willbegin to pay it from year 6.The total equity loan amount you repayis linked to the value of your home at thepoint of repayment, and not the amountyou originally borrowed.You cannot have an equity loan without arepayment mortgage, which is valid for theduration of the equity loan.

6Help to Buy – Wales Buyers’ GuideHow does it work?With an equity loan, we lend you aminimum of 10% and up to 20% of themarket value of your newly built home.The maximum purchase price for an eligibleproperty under the scheme is 250,000.You cannot change or negotiate this price.Your homebuilder will be able to confirmif the home you want to buy is within theeligible price range.You must: pay a minimum cash deposit of 5% ofthe purchase price of your new homeat exchange of contracts arrange a repayment mortgage of atleast 25% of the purchase price of yournew home.An equity loan is secured against yourproperty in the same way a repaymentmortgage is. The Help to Buy – Wales:Equity Loan scheme is not regulated bythe Financial Conduct Authority (FCA).Example of how much your deposit,mortgage and equity loan may be if youbuy a new home worth 200,000:Homebuyers 10k5% deposit 40K20% equity loan 150k75% mortgage from repaymentmortgage lenderFor the first 5 years: the equity loan is interest free; pay a 1 monthly management fee byDirect Debit.From year 6: pay the 1 monthly management fee; pay a monthly interest fee of 1.75% ofthe equity loan; interest fees will rise each year in Aprilby the Consumer Price Index (CPI),plus 2%; continue to pay interest until you repayyour loan in full.You must repay the equity loan when youpay off your repayment mortgage, sell yourhome or reach the end of your loan term,normally 25 years.You can pay off your equity loan in full anytime before then or make part payments.Your first part repayment will need to beat least 10% of what your home is worthat that time.

Updated January 20217Am I eligible?You must be able to fund up to 80% of yourselected property through a combinationof a conventional repayment mortgage,and a minimum cash deposit of 5% of thepurchase price.You must take out a first charge repaymentmortgage with a qualifying lender.When you buy your new build home withan equity loan, you must be able to affordthe monthly fee and interest payments.The home you purchase must be youronly home.You must tell us if you or anyone youare buying with has a connection witha homebuilder, as this could affect youreligibility for the equity loan scheme.The Help to Buy – Wales scheme wasestablished to provide support to peoplewho want to become home owners,who would not otherwise have accessto an affordable mortgage or be able toget onto the property ladder. Therefore,if your financial position shows you cansecure a 90% first charge mortgage,without the support of Help to BuyWales, then you will not be offeredHelp to Buy – Wales assistance. YourIndependent Financial Advisor will beable to provide you with further advice.

8Help to Buy – Wales Buyers’ GuideQuality standardsWe aim to make sure that homes sold withHelp to Buy – Wales are of a high standardand broadband ready.All our home builders will clearlycommunicate any quality marks they havebeen awarded or any quality schemes ofwhich they are a member, for exampleTrustmark, in all Help to Buy – Walescommunications and advertisements.Members of the Home Builders Federation(HBF) that participate in the star ratingscheme, must clearly communicate thatrating on all Help to Buy – Wales relatedcommunications and advertisements.Only developers/builders that have a ratingof 4 stars and above will be permitted to bepart of the Help to Buy – Wales scheme.Members of the Federation of MasterBuilders (FMB) must clearly communicatetheir membership on all Help to Buy– Wales related communications andadvertisements.Our home builders agree to follow:1. Consumer Code for HomeBuildersAll Help to Buy – Wales registered homebuilders follow a code of customer careand standards set out within the ConsumerCode for Home Builders. Find out moreabout the code visitwww.consumercode.co.uk2. Planning permission andbuilding regulationsHome builders must ensure each eligiblehome built during Phase 3 of Help to Buy –Wales complies with planning permissionsand the Building Regulations in force inWales.Your conveyancer is responsible for makingsure these are evidenced.Home Builders must:3. New Home Warranty have a system in place which ensureshomes offered for sale through Help toBuy – Wales are checked for quality ofconstruction and finish during the buildand on completion;Your home builders must give you a newhome warranty before you complete thepurchase. be clear in all communications withcustomers about likely broadbandcapability on developments; allow buyers to view the actual homebeing purchased (with their own surveyorif desired) before legal completion ofsale.You won’t be able to buy your home withoutit. The warranty will: deal with defects you may find when youmove into your new home offer you, us and your mortgage lenderprotection.If you have any questions about the newhome warranty, your conveyancer or homebuilders will be able to give you moreinformation.

Updated January 2021Lease restrictions on Help to Buy – WaleshomesThe Welsh Government has set out rulesto protect you from unfair lease terms andcosts when you buy a home.There are very few Help to Buy – Waleshomes you can buy that will include a lease.Home builders can only charge apeppercorn ground rent for leaseholdhomes included in Phase 3 of theHelp to Buy – Wales Scheme.If you are buying a flat with a lease, checkwith your conveyancer that the terms of thelease meet the requirements of Help to Buy– Wales.Estate Management FeesYour builder must provide information,in writing, about the existence, and likelylevel of estate charges, before acceptinga deposit on your home.Your conveyancer will ensure you havebeen advised of any fees that may becomedue and the likely action that could be takenif you do not pay these fees.9

10Help to Buy – Wales Buyers’ GuideHow to apply1. Find and reserve your homeRegistered home builders advertiseHelp to Buy – Wales homes for sale on theirdevelopments. You must reserve your homeand pay a fee of no more than 500 beforeyou can apply for an equity loan. This feeis fully refundable if you’re not eligible for anequity loan.2. Get professional adviceHelp to Buy – Wales Ltd will help you toapply for an equity loan if you’re eligible andcan afford the equity loan on top of yourother outgoings. However they are notfinancial advisors and cannot provide youwith specialist advice. Therefore beforeapplying to the scheme you must check thatthe equity loan meets your needs and thatyou can afford to repay it.Consider seeking independent advice tohelp you understand your financial situation.You can contact Help to Buy – Wales Ltd –www.gov.wales/help-buy-wales/contact-us

Updated January 202111Buying your new home withan equity loanStage 1: ApplyingFind your new homeSearch online for new homes for saleusing a Help to Buy – Wales: EquityLoan. Look for the Help to Buy – Wales,supported by Welsh Government logoon registered home builders new homedevelopment sites.Reserve your homeReserve your home with the home builderand pay a fee of no more than 500.This fee is fully refundable if you’re notapproved for an equity loan. Make sure thehomebuilder gives you a signed copy of thereservation form, you’ll need it when youapply for the equity loan.Get financial adviceBuying a new home can be a dauntingprocess, but there are many organisationsthat offer free advice. Consider seekingindependent financial advice.Apply for your equity loanYou need to complete a PropertyInformation Form to apply for an equityloan. You will need to provide personal andfinancial information, such as householdincome, the property details, your proposedrepayment mortgage and deposit details.The information you provide whenyou apply must be accurate and true.False details will lead to delays and mayput you at risk of fraud, which is a criminaloffence.Return your paperworkSend your signed Property InformationForm and a copy of the home builder’ssigned reservation form to Help to Buy –Wales Ltd.

12Help to Buy – Wales Buyers’ GuideStage 2: Authority to ProceedKnow how your finances stack upHelp to Buy – Wales Ltd will check if you’reeligible for the scheme.Help to Buy – Wales Ltd will use aneligibility calculator tool to check yourmonthly income and outgoings, includinghousehold bills and estimated mortgagerepayments in the calculations. To beeligible for the scheme your debt oroutgoings must not exceed 45% of yourhousehold income.Your repayment mortgage should be lessthan 4.5 times your gross annual income.Help to Buy – Wales Ltd are committedto responsible lending and ensuringapplicants are able to comfortablyafford the shared equity loan. Therefore:* There is no flexibility on Debt toHousehold Income Ratios above 45%.Apply for a repayment mortgageYou are responsible for arranging yourrepayment mortgage. Only apply for yourrepayment mortgage once you have theAuthority to Proceed from Help to Buy –Wales Ltd. If you apply for a repaymentmortgage first and are not eligible toapply for Help to Buy – Wales equity loan,you may lose money. Your credit rating mayalso be affected if the mortgage lender hascarried out a credit check on you.Get Authority to ProceedIf your application is approved, Help toBuy – Wales Ltd will give you the Authorityto Proceed (ATP) to buy your new home.This is valid for 3 months.When you have the Authority to Proceed,your conveyancer will receive legalguidance and forms to complete. Returnthese to Help to Buy – Wales Ltd so youcan buy your home.Your conveyancer is responsible forexplaining the legal information to you.A list of conveyancers that have undertakenHelp to Buy training can be found atwww.gov.wales/help-buy-wales/howapplyGet the conveyancer’s packWhen you have the Authority toProceed, your conveyancer will receivelegal guidance and forms to complete.Your conveyancer is responsible forexplaining the legal information to you.

Updated January 2021Stage 3: Mortgage offer andexchange of contractsYour conveyancer will: explain the Help to Buy – Wales:Equity Loan contract and your legalresponsibilities. They will remind youthat your application must be accurateand true. False or misleading informationcould be fraud. This is a criminal offenceand you may have to repay the equityloan in full; ask you to sign the property sale contractand the Help to Buy – Wales: EquityLoan contract; make sure your repayment mortgageoffer, property price and deposit are thesame amount as agreed in the Authorityto Proceed; ask Help to Buy – Wales Ltd forpermission to exchange contracts.13Help to Buy – Wales Ltd will:Check all the paperwork is correct andissue the Authority to Exchange (ATE)to your conveyancer so they can exchangecontracts.You will: pay your deposit and be legally boundto buy your new home by an agreeddate. You pay 5% cash deposit whenyou exchange contracts, even if yourfull deposit is more; make sure your repayment mortgageoffer does not expire before thecompletion date.Home visitsYou can visit your new home once you haveexchanged contracts. Your homebuilderwill arrange this for you. This will give youa chance to confirm any last-minute detailsor changes before you move in. Speak toyour conveyancer or your homebuilder formore information about home visits.

14Help to Buy – Wales Buyers’ GuideStage 4: Completing the purchasePay for your new home on completion: you pay the rest of your deposit(if more than 5%); your mortgage lender provides its shareof the funds to buy your new home; Help to Buy – Wales Ltd will pay yourequity loan to your conveyancer; you legally own your new home, get thekeys and can move in.Confirm the saleYour conveyancer contacts Help to Buy –Wales Ltd to confirm the sale.Registration of interestYour conveyancer will register a legalcharge on your home for Help to Buy– Wales Ltd. They will also register aseparate legal charge for your mortgagelender. This is recorded with HM LandRegistry and will be shown on yourproperty title deeds.When you’re ready to sell your home,you need to let us know. You must pay backyour equity loan and repayment mortgagebefore we can remove our legal chargeon the property.Your homeYour home may be repossessed if youdo not keep up repayments on yourrepayment mortgage, equity loan orother loans secured against it. Considerseeking independent financial advicebefore making any financial decisions.After you buy your home, Help to Buy –Wales Ltd will: set up your Direct Debit to pay the 1 monthly management fee; arrange for you to pay fees and interestpayments on your equity loan; help set up repayments when you’reready to repay some or all of yourequity loan.

Updated January 2021How long does it take to buya new home with an equity loan?You have 3 months to exchange contractswhen you get our Authority to Proceed.You must complete buying your homewithin 6 months of exchanging contracts.When you exchange contracts, you makea legal commitment to buy the property.If you change your mind, you may haveto pay costs.15

16Help to Buy – Wales Buyers’ GuideRepaying your equity loanWhen you take out your equity loan,you agree to repay it in full, plus interestand management fees.You must repay your equity loan in full: at the end of the equity loan term; or when you pay off your repaymentmortgage; or when you sell your home; or if you do not comply with the terms setout in the equity loan contract and weask you to repay the loan in full.If your home is worth less than when youbought it, it may affect your ability to payyour repayment mortgage. Consider talkingto a financial adviser about what you coulddo if this happens.Work out what you need to repayYou can pay off all or part of your equityloan any time before it is due.At any time, you can make part repaymentsof at least 10% of what your home is worth,to reduce how much you owe.There are no monthly equity loanrepayments to reduce the total amountof equity loan you borrow. You can payoff all or part of your equity loan any timebefore then.For example, you could repay 10% if youtook out a 20% loan.You may pay back more than youborrowYou will need to get a Royal Institutionof Chartered Surveyors (RICS) valuationreport. A qualified surveyor will estimate thevalue of your home, based on its conditionand the current housing market.The percentage you borrow is based on themarket value of your new home when youbuy it.When you repay your loan in full or in part,the amount you pay back is worked out asa percentage of the market value at thetime you choose to repay.If the market value of your home rises,so does the amount you owe on your equityloan. And if the value of your home falls,the amount you owe on your equity loanfalls too.Your home could be at risk if you do notkeep up with repayments on your mortgage,so it’s important to consider how you willmanage if your home drops in value.To work out how much you pay back weneed to know the current market valueof your home.If you are selling your home, we usethe current market value of your homeas determined by a Royal Institution ofChartered Surveyors (RICS) valuer, or theprice it sells for, whichever is highest. In allother circumstances the market value willbe determined by RICS valuer.

Updated January 202117Understanding your interest paymentsInterest is what we charge for lending youthe funds to help you buy your Help to Buy– Wales home.Interest payments do not go towards payingoff your equity loan. You start to pay interest from year 6,on the fifth anniversary that you tookout your equity loan; Your first interest payment will be 1.75%of the amount you borrowed; Your interest will go up each year in Aprilby the Consumer Price Index (CPI),plus 2%.The amount of monthly interest you payis worked out by multiplying:1. the Help to Buy – Wales: Equity Loanamount (purchase price x equity loanpercentage). The equity loan percentagewill reduce following any part repayment.2. by the interest rate (in the first yearthis is 1.75%). The interest rate increasesevery year by adding CPI plus 2%.The interest rate from the previous year isthen used to work out the interest rate risefor the following year.Payments are worked out as an annualfigure and then divided by 12 equalinstalments to get a monthly interestpayment.Based on the yearly interest rate rises,it is possible to show the typical annualand monthly payments, including interestand management fees. You will receivea personalised example which estimatesthe fees you’ll pay on your equity loan.The figures in this guide are examples only.Typical annual and monthly payments,including interest and management fees,based on an equity loan in a region of 40,000 and inflation (CPI) of 2.5%:If the market value of your home at thetime of purchase was 200,000 and youborrowed a Help to Buy – Wales: EquityLoan amount of 40,000 (20%), in year 6,on the fifth anniversary of taking out yourequity loan, the interest rate used to workout your monthly interest fee would be1.75%. So the sum is: ( 40,000 x 1.75%) 12 58.33 interest every month inyear 6.How we work out interest rateincreasesInterest rates go up each year in April bythe Consumer Price Index (CPI), plus 2%.The table below shows how the interestrate rise is worked out.YearInterest rate increasecalculationInterestrate1-5No interest payments0%6Not applicable1.75%1.75% (year 6 rate) 0.08%71.75% (previous interestrate) x 4.5%(2.5% CPI 2%) 0.08%(interest increase)1.83%1.83% (year 7 rate) 0.08%81.83% (previous interestrate) x 4.5% (2.5% CPI 2%) 0.08% (interestincrease)1.91%

18Help to Buy – Wales Buyers’ GuideDifferences in interest paymentsYou will pay slightly less interest if you takeout an equity loan at the start of the year,and slightly more interest if you take itout later.Your interest payments start in year 6,on the fifth anniversary that you tookout your equity loan if your equity loananniversary is between: 1 April and 31 December, your firstinterest rate rise will be the coming April.For example, if you take out your equityloan on 1 June 2021, interest paymentswill start on 1 June 2026 (year 6) andthe increase in interest will take place inApril 2027. This means your interest willrise to the next rate sooner. 1 January to 31 March, your firstinterest rate rise will be a year or morelater in the following April. For example,if you take out your equity loan on1 January 2022, interest payments willstart from 1 January 2027 (year 6) andthe increase in interest will take placein April 2028. This means you will paya lower rate of interest for slightlylonger.What happens if the Consumer PriceIndex (CPI) is below 0%?CPI can go up and down.If when we work out your interest, CPI is0% or less, a figure of 0% will be used forCPI to calculate your interest rate rise.This means the interest rate increase willbe a minimum of 2%. CPI will never be lessthan 0% when used to work out the interestrate increase.Example:Where CPI is equal to or less than 0%,we use 0% to work out the interestrate rise:0% 2% 2% interest rate rise.

Updated January 202119Equity loan fees and costsYou agree to pay the fees and costs whenyou take out the equity loan, and theseinclude:Monthly management feeWhen your equity loan starts you mustpay a 1 monthly fee. This is paid byDirect Debit for the life of your equity loan.For example, if you have the equity loan for5 years (60 months) you will pay a total of 60 in management fees.InterestYou start to pay interest from year 6, on thefifth anniversary of your equity loan and thisis calculated at a rate of 1.75% of the equityloan amount. The interest rate will rise eachyear thereafter in April by the ConsumerPrice Index (CPI), plus 2%.The interest you pay during the life of theequity loan does not reduce the amountyou owe.The amount of interest you pay will reduceif you make part repayments. Interest willbe worked out on the amount of equity loanleft to pay.Administration feesYou may be required to pay administrationfees, for example if you make changes to,or redeem, your equity loan.A full list of charges will be available fromHelp to Buy – Wales.In addition to administration fees, you areresponsible for paying other costs and fees,such as a Royal Institution of CharteredSurveyors (RICS) valuation report,legal fees, mortgage arrangement fees.Costs for late paymentYou may be charged interest on overduemoney you owe us. Interest is worked outbased on the amount you owe. Interest isapplied every day until the money you oweis paid in full. You may also be asked topay other reasonable costs that we haveincurred, if we need to take action againstyou.We collect interest and management feepayments by Direct Debit. This helps tokeep your payment details up to date.

20Help to Buy – Wales Buyers’ GuideHelp to Buy: Equity Loanand mortgagesHelp to Buy – Wales: Equity Loan normallyhas a term of 25 years. If you choose toswitch lenders to get a better deal on yourrepayment mortgage, either with yourcurrent or a new lender, you will need toget our permission first.If you want to borrow more on yourmortgage, you will need to meet certainconditions.You can only borrow more when youremortgage if you use the money to pay: for repayment of all or part of yourequity loan; for structural alterations on medicalgrounds, if we agree to it; to remove or add a homebuyer to theequity loan agreement (Transfer ofEquity); for other personal circumstances thatyou agree with us.Add and remove homebuyersfrom the equity loanWith our permission, you can add orremove a homebuyer from the equity loan.Homebuyers who are added must meetour Help to Buy – Wales eligibility criteria.One of the homebuyers named, must staythe same as when the equity loan wastaken out.

Updated January 202121Structural alterationsHelp to Buy – Wales homes are for buyers,now and in the future. We want to makesure they are always affordable.Making structural alterations to your homecan increase its market value.You cannot make structural alterations toyour home without our permission, such asadding an extension or converting abedroom into a bathroom.We will only give permission to makestructural alterations on medical grounds.The equity loan is linked to the value of yourhome. So, if you make structural alterationswithout our permission and it increases theOther restrictionsYou are not allowed to sublet your homewithout our consent.Like your repayment mortgage, you musthave building insurance for your home,keep it in a good state of repair and complywith other conditions.value of your home, the equity loan amountyou owe will increase.If we give permission to make structuralalterations and the value of your homeincreases, we will ignore the value of thatalteration when we work out how muchyou owe on your equity loan.Redecorating or fitting a new kitchen orbathroom are not structural alterations,and you do not need our permission todo this.You have the option to repay your equityloan before you make structural alterations.

22Help to Buy – Wales Buyers’ GuideChanges in the housing market couldaffect your property priceChanges in the housing market means that house prices can go up and down.These examples show what could happen if a property price increases.Increase in a homeIn this example, the homebuyer has:Property value 200,000Homebuyer’s deposit 10,000 (5%)Equity loan % 40,000 (20%)Repayment mortgage 150,000 (75%)This assumes the property value increasesby 2% every year. If you sell your home atthe start of year 6, you would need to repay 44,163.Changes in the housing market could affectyour property price.Changes in the housing market means thathouse prices can go up and down.Start ofyearPropertyprice(%) increaseProperty priceHomebuyerentitlement:80%* of propertyvalueHelp to Buyentitlement:20% of propertyvalue10% 200,000 160,000 40,00022% 204,000 163,200 40,80032% 208,080 166,464 41,61642% 212,242 169,793 42,44852% 216,486 173,189 43,29762% 220,816 176,653 44,163* This entitlement excludes any balance you owe on your repayment mortgage

Updated January 2021This example shows what could happenif a property price decreases.Example 1: Decrease in a homeIn this example, the homebuyer has:Property value 200,000Homebuyer’s deposit 10,000 (5%)Equity loan % 40,000 (20%)Repayment mortgage 150,000 (75%)23This assumes the property value decreasesby 5% every year. If you sell your home atthe start of year 6, you would need to repay 30,951 (20% of the sale price) to settlethe equity loan. Since the sale price of yourhome in this example is less than when youbought it, it may affect your ability to payyour repayment mortgage and the Help toBuy – Wales: Equity Loan.Start ofyearPropertyprice(%) increaseProperty priceHomebuyerentitlement:80%* of propertyvalueHelp to Buyentitlement:20% of propertyvalue10% 200,000 160,000 40,0002-5% 190,000 152,000 38,0003-5% 180,500 144,400 36,1004-5% 171,475 137,180 34,2955-5% 162,901 130,321 32,5806-5% 154,756 123,805 30,951* This entitlement excludes any balance you owe on your repayment mortgage

24Help to Buy – Wales Buyers’ GuideGlossaryCapital repaymentsExchange of contractsCapital is the money you borrow; interest isthe charge made by the lender (in this case,Help to Buy Wales Ltd) on the amountyou owe.Where you and the seller have all thepaperwork in place, you legally agree to buya home. When contracts are exchanged,you’ll need to pay an exchange deposit of5% to the seller. At this point, an agreementto buy becomes legally binding.CompletionThis is the final stage in the sale of aproperty, and the point at which it legallychanges ownership to you, the homebuyer.Consumer Prices Index (CPI)CPI is a government annual measure ofinflation. CPI is measured at different pointsin the year.We use the September measurement andapply it to our interest rate rise every April.DepositA house deposit is usually an upfrontpayment which is normally a percentageof the house price and not included in themortgage. In the case of a Help to BuyWales home, the deposit at exchange ofcontracts must be 5% of the price of thehome.A deposit is your equity in the house youbuy.InterestInterest is the cost of borrowing money.You will usually pay interest for borrowingmoney, such as an equity loan. Interestis usually shown as a percentage of theamount you borrow. This percentage iscalled the interest rate. The higher the rateof interest, the more interest you pay back.For example, on 100 at a 5% interest rateyou’ll pay 5 in interest per annum.LeaseholdYou only own a leasehold property fora fixed period. A lease is a priva

new home. An equity loan is secured against your property in the same way a repayment . mortgage is. The . Help to Buy - Wales: Equity Loan scheme is not regulated by the Financial Conduct Authority (FCA). Example of how much your deposit, mortgage and equity loan may be if you buy a new home worth 200,000: Homebuyers

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Buying or renting a home This tool will help you think about whether to rent or buy a home when faced with a Permanent Change of Station and where living on base may not be an option. The decision to rent or buy a home is among the most challenging and important. It is a personal decision

detergent. If you buy the 200-oz. bottle for 7.49, you pay 5.99, or 3 cents per ounce. If you buy the 100-oz. bottle for 3.99, you pay 2.49, or 2.5 cents per ounce. The smaller bottle is a better value. Collect two coupons and buy two small bottles, and you save even more. 15 Buy more than you need right now.

Consumer behaviour denotes to the emotional and mental process and the observable behaviour of consumers during search of product, purchasing process and post consumption of a product or service. Consumer behaviour includes study of how people buy, what they buy, when they buy and why they buy. It mergers the elements from Psychology, Sociology .

3 to less than 5 years 19% 5 years or longer 12% 48.8M buy in less than three years 18.4M buy within a year 80M Total U.S. Gen Y population 18.4M plan to buy within a year 48.8M plan to buy within .

the How to Buy a Hotel handbook Jim Butler Bruce Baltin of PKF Consulting Jim Butler is the Chairman of JMBM’s Global Hospitality Group and the author of the Hotel Law Blog. The How to Buy a Hotel Handbook is based on the experience Jim’s team has gained from more than 71 billion of hotel transactions, involving more

Make change for your purchases: 1. You buy cotton candy for 5.50. You gave 10.00. Your change is 2. You buy a #1 Cardinals fan foam finger for 8.25. You gave 10.00. Your change is 3. You buy ice cream for 3.75. You gave 5.00. Your change is 4. You buy a Cardinals hat for 13.

Wood Energy Series Buying a Secondhand Wood Stove Fact Sheet FS-938 2012 When and When Not to Buy A Secondhand Stove Wood stoves are one of the appliances that generally should be purchased new. In this paper, we will review why and why not to buy a used stove, and how and where to buy one. But first, we will discuss why not to buy one.

Introduction, Description Logics Petr K remen petr.kremen@fel.cvut.cz October 5, 2015 Petr K remen petr.kremen@fel.cvut.cz Introduction, Description Logics October 5, 2015 1 / 118. Our plan 1 Course Information 2 Towards Description Logics 3 Logics 4 Semantic Networks and Frames 5 Towards Description Logics 6 ALCLanguage Petr K remen petr.kremen@fel.cvut.cz Introduction, Description Logics .