A Flintshire homebuilder has welcomed the extension of a buying scheme that brings homeownership within reach for more people in Wales.
As part of its draft budget, the Welsh Government has announced that the Help to Buy Wales initiative will run for a further 18 months until the end of September 2026.
Ewloe-based Anwyl Homes, one of 50 developers and SMEs registered to offer Help to Buy Wales, believes the scheme’s extension will support both homebuyers and the local economy.
Graeme Gibb, sales director at Anwyl Homes Cheshire and North Wales, said:
“Help to Buy Wales provides a lifeline for many buyers who may otherwise be priced out of buying a home of their own. It ensures that even those with a smaller deposit can access more competitive interest rates, backed by an equity loan.
“It also provides an additional stimulus for the housing market, which in turn supports local economies where new homes are being built – bringing new people into the area to support jobs and local businesses and provide additional tax revenue.
“We welcome the Welsh Government’s pledge to extend the scheme and look forward to helping more people to achieve the dream of homeownership.”
Under the Help to Buy Wales scheme, which is exclusively available on new homes priced up to £300,000, first time buyers and existing homeowners can take out an equity loan for up to 20% of the purchase price, interest free for five years. They then only need a 5% deposit plus a mortgage from their lender of choice to cover the remaining 75%.
Launched in 2014, Help to Buy Wales is designed to assist those who wouldn’t be able to purchase a property otherwise, for example, first time buyers or those who’ve owned a property previously and want a route back to homeownership, perhaps after a change of circumstances such as a breakup.
It was originally due to end in 2023 but was then extended until March 2025.
A further extension of Help to Buy Wales was announced in December as part of the Draft Budget. It is expected to be confirmed when the final Budget is published in February.
