Wales adopts Help to Buy scheme

Wed, 27 Nov 2013

Wales adopts Help to Buy scheme
The Welsh government has announced a £170 million Help to Buy mortgage scheme to boost the housing market.

From January 2nd, 2014, buyers of new homes under £300,000 can apply for a loan to assist them financially. The investment will support the purchase of around 5,000 new homes in Wales during the next two-and-a-half years.

Carl Sargeant, housing minister, said that this scheme "will help more people get onto the property ladder and will provide much needed boost to the building industry in Wales".

Buyers with a five per cent deposit will receive an initial interest-free loan of up to 20 per cent of the property value from the Welsh government. This means buyers can get mortgages from certain banks with a lower deposit than normal.

It is hoped that the scheme, very similar to the one rolled out in England in April, will give the economy a boost and create more jobs.

Mr Sargeant urged "all builders, large and small, to register now so that they are ready for the first loans being made available to buyers in January".
add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Copy and Paste the following HTML into your page.

Note: For a free no obligation chat with an independant mortgage specialist about your requirements please complete ourmortgage enquiry form below.

Mortgage, Remortgage or Buy-to-Let Mortgage Enquiry Form

Stop Press: Find the perfect mortgage!
Lending criteria has been relaxed and our specialists can find you great mortgage offers to compare.
Our team do all the work to find you the best offer
We'll help you find the best mortgage for your needs and ensure that everything runs as smoothly as possible.
Deposits required are again falling
The cost of the best deals has dropped recently for those borrowing either 80%, 85% or 90% of their property's value
Independent, searching the whole market
With 1000's of mortgage products available our mortgage brokers will source the mortgage that suits your situation.
Please complete this quick, free enquiry form.


Your Details

Home Buyer Guides

Home Buyer News

Speak with an independant mortgage specialist

About Company is part of the SFN Network of websites. Sitefinders Net Ltd is a U.K based company setup in 1995. Our core business is the development of online businesses using the generic domain name concept. We have a growing portfolio of websites in many different industries such as electronics, finance, retail, seasonal and health.

Privacy Policy

Get in Touch