English | Cymraeg Tel: 029 2076 5760 Connect: Twitter

Help to Buy extended by 12 months

Help to Buy Wales scheme will be extended until March 2022 in a third phase, housing minister Julie James has announced.

The equity loan home ownership scheme, which was due to close to applicants on 31 March 2021, will be extended until March 2022 with the possibility for a further extension until March 2023 subject to the availability of funding from the UK Government.

Since its inception in 2014, more than 10,215 homes have been bought through the scheme.

The third phase of the scheme will introduce some changes from April 2021 including a reduction of the price cap from £300,000 to £250,000 as well as improved quality with all homes being broadband ready.

The minister said: ‘Ensuring everyone in Wales has access to a good quality, safe and affordable home is this government’s ambition. I am pleased to announce our intention to extend Help to Buy Wales until March 2023, subject to the availability of funding beyond 2020-21 from the UK Government.

‘I have said I am committed to providing affordable housing and should funding not provided by the UK Government, than Welsh Government will commit to funding phase three of Help to Buy Wales for at least a further 12 months, until March 2022.

‘I want to ensure support is available to all those who need it when making the most significant purchase of their lifetime and allow developers to plan for their future. We will continue to work with developers and all stakeholders over the coming months to ensure homes purchased using Help to Buy are not just of good quality but are broadband ready to allow home owners to have instant access to essential services.’

Sign up to our email newsletter

Every two months we'll email you a summary of the latest news & articles on the WHQ website. Better still, if you're a fully paid up magazine subscriber, you'll get access to the latest members-only articles as well.

Sign up for the email newsletter »

Looking to advertise in our magazine?

Advertising and sponsored features are a great way to raise your profile with our readership of housing and regeneration decision makers in Wales.

Find out more »