Press release

Help to Buy – helping over 2,000 people in Wales buy a new home

Alun Cairns: Mortgage guarantee scheme helps make home ownership a reality in Wales

The UK Government’s flagship housing scheme is becoming a key catalyst to helping people in Wales get onto, and up, the rungs of the housing ladder, Wales Office Minister, Alun Cairns said today.

Figures released today (3 June) show that Help to Buy’s mortgage guarantee scheme has helped 2,179 first time buyers in Wales to buy a new home.

Help to Buy was launched by the UK Government in 2013 to support hard-working taxpayers who could pay a mortgage, but couldn’t afford the high deposits demanded by lenders.

Since its launch, the scheme has helped almost 100,000 [99,601] people UK-wide to get on to and up the property ladder.

Wales Office Minister, Alun Cairns said:

For too long, many people in Wales found it difficult to get onto the housing ladder.

The success of the Help to Buy scheme means that is changing. Today’s figures show that thousands of working people across Wales are benefiting from the mortgage guarantee scheme and realising their dream of home ownership.

In England we have extended the Help to Buy equity loan scheme until 2020. Whilst I welcome the Welsh Government’s recent announcement on extending their own scheme, I am keen for them to quickly set out more details.

Homebuyers and the construction industry need this reassurance so that Wales continues to have a vibrant house building sector in the years to come.

NOTES TO EDITORS

Data period for mortgage guarantee (Oct 13 – Mar 15)

Please find the latest figures here