Hopes that Help to Buy Wales will be extended

Fri, 27 Feb 2015

Hopes that Help to Buy Wales will be extended
Help to Buy is expected to be extended in Wales past the current end date, depending on upcoming announcements.

Help to Buy Wales is reported to have been used by 1,200 people to purchase a home, when they otherwise wouldn't have been able to.

It has helped first time buyers get a leg up onto the property ladder, purchasing properties worth up to £300,000, making use of an equity loan up to 20% of the property value from the government. It is set to end in 2016, but is thought that this deadline could be extended.

Housing minister for the Welsh Assembly, Lesley Griffiths, said: "We want Wales to be a nation where everyone has access to a high quality, safe and affordable home and have been working with the construction industry to increase the supply of new homes in Wales.

"I am today setting out the Welsh Government’s intention to extend the Help to Buy Wales scheme beyond March 31, 2016."

They want the scheme to be extended for as long as the other schemes throughout the UK. The main Help to Buy scheme is set to run until 2020, and the Welsh government want to match this to keep an even playing field.

However, it is all depending on the outcome of the spending review by the UK Government whether the extension will be able to happen or not.
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