The Welsh Government's Help to Buy Wales scheme is
helping people who might otherwise not be able to afford a home
to become homeowners.
The scheme has already helped more than 14,500 households to
purchase their own homes. Since April 2022, 84% of purchasers
have been first-time buyers.
In December, the Cabinet Secretary for Housing and Local
Government, , announced an additional £57m
to extend the scheme until September 2026, allowing even
more people to achieve their dreams of homeownership.
The Cabinet Secretary recently visited Locke Gardens, a Lovell
Homes development at Glan Llyn in Newport, to meet with new
homeowners who have benefited from the scheme.
One of the purchasers, Venkatesh Mandapati, was previously
renting in Newport before he and his wife purchased their
three-bedroom home at the Lovell development through Help to Buy
Wales.
The Cabinet Secretary said: "When meeting Mr. Mandapati, I heard
first-hand how Help to Buy Wales has transformed his life from
renter to homeowner. The scheme is delivering real change for
people across Wales, helping individuals and families enjoy the
security of owning their own home.
“I'm particularly pleased about the support we are providing to
first-time buyers through Help to Buy Wales, helping them take
their first step onto the property ladder.
"We will continue to work with developers and partners to ensure
Help to Buy Wales is accessible to those who need it most."
Suzie Hewitt, Regional Sales Director of Lovell, said: “Help to
Buy Wales is an excellent scheme that has helped many of our
purchasers get their foot on the property ladder and gain access
to a home of their own. At Locke Gardens, 36 per cent of buyers
have used the scheme to purchase a range of two and three-bedroom
house styles available at the development.
“We were delighted to welcome the Cabinet Secretary to Locke
Gardens to discuss the scheme and speak first-hand to Lovell
residents who have benefited from it, and we look forward to
connecting more buyers with the right home for them with the help
of the scheme going forward.”
ENDS
Notes to editors
The Help to Buy Wales scheme is available to buyers purchasing
eligible new-build properties with a maximum price of £300,000
from registered builders.
It aims to make homeownership accessible to those who might
otherwise struggle to afford it.
More information is available here: Help to Buy - Wales |
GOV.WALES
The Cabinet Secretary for Housing and Local Government, , announced the extension of
the scheme on 16 December 2024: Written Statement: The
future of Help to Buy Wales from April 2025 (16 December 2024) |
GOV.WALES
