Welsh Help to Buy to launch later this year

Housing Minister, Carl Sargeant, today announced the first phase of a package of measures that will support the housing industry and also deliver on his pledge to improve the quality and safety of houses in Wales.

Related topics:  Mortgages
Amy Loddington
18th July 2013
Mortgages

The Minister announced that a shared equity scheme, Help to Buy Cymru, will be launched later this year to help buyers who are struggling to secure a mortgage or purchase an affordable family home.

The scheme is in addition to the NewBuy Cymru mortgage guarantee scheme, which the Welsh Government is continuing is explore with builders and lenders. Engaging all parties is essential in developing a viable scheme.

The Minister concluded:

"Building more homes is my priority. Doing this will not only meet growing housing need, but also generate growth and job, provide work to help people out of poverty and counter the effect of the bedroom tax.

"This package of measures represents the first phase of action to increase the supply of new homes in Wales. To build a rounded policy and encourage housing supply across all sectors, I have set up a small task force to look at the barriers to development. I will report further on this work in December."

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