Welsh Secretary Stephen Crabb today (5 March) hailed the UK Government’s mortgage guarantee scheme as new figures show that it has helped hundreds of people across Wales buy a home.
Since the scheme was started in 2013, 1,530 first time buyers in Wales have been able to buy a home of their own.
Mr Crabb said the Welsh Government now needed to extended their version of the Help to Buy equity loan scheme to 2020 - as the UK Government has done - to reassure homebuyers and the housebuilding industry in Wales.
Stephen Crabb said:
For too long, too many people have struggled to make their dream of home ownership a reality - but today’s figures show that is changing.
Hundreds of people across Wales have used our mortgage guarantee scheme to climb onto the first rung of the housing ladder.
In England we have extended the Help to Buy equity loan scheme until 2020. I know housebuilders are concerned the Welsh Government have not made the same commitment with their own scheme.
Wales needs to reap the economic benefits of a vibrant housebuilding industry. I hope the Welsh Government moves quickly to reassure homebuyers and the housing market so Wales doesn’t lag behind.