Good news for Welsh homebuyers as the popular Help to Buy -Wales scheme has now been extended until March 2022, with the possibility of a further extension until March 2023.
The popular scheme, which was due to close to applicants on 31 March 2021, has seen over 10,000 new homes bought with the assistance of Help to Buy – Wales since it was first launched in 2014.
The Welsg Government also announced that the third phase of the scheme will see soe changes introduced. From April 2021 there will be a reduction of the price cap from £300,000 to £250,000 as well as improved quality with all homes being broadband ready.
The Welsh Government Minister for Housing and Local Government 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 be provided by the UK Government, than Welsh Government will commit to funding phase three of Help to Buy Wales for at least a further twelve 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.”
The scheme is currently available on new homes for sale up to value of £300,000 at our The Hedgerows development in Pennard. For further information on how the scheme could help you purchase your new home and for criteria and eligibility, please visit https://gov.wales/help-buy-wales