The Welsh Government has announced the extension of three housing support schemes, including Help to Buy, which will help up to 400 more households purchase a new build home with smaller deposits.
Help to Buy Wales will now continue until 31 March 2027, with the Welsh Government saying that the scheme has been a vital route into homeownership for many, particularly first-time buyers who face significant barriers in the current housing market.
The Empty Homes Grant will also be extended to the end of March, funding the renovation of up to 300 empty properties and turning neglected buildings into energy-efficient family homes.
Finally, the Help to Stay Wales scheme will also run until 31 March 2027, providing support for homeowners struggling to meet their mortgage payments. This extension builds on the Welsh Government’s 100 days plan commitment to help families through the ongoing cost-of-living crisis.
The Welsh Government says that, together, the three schemes represent a significant and wide-ranging commitment to the people of Wales, combining support for new build homes, grants to bring empty properties back into use and help for existing homeowners struggling with mortgage costs.
Cabinet minister for local government, housing and planning, Siân Gwenllian, commented: “This government is committed to the principle that every family deserves a safe and affordable home in which to live. Increasing the supply of social homes is one way of achieving this, and we have announced our 20,000 additional homes target.”
“We are also offering targeted support for those who own or wish to own their homes – an option that is not affordable or accessible for many as prices continue to grow beyond the reach of local people across many parts of Wales. Today I am announcing the extension of three schemes that support people that are buying their first home, helping families from losing their home and helping to renovate empty properties into homes.”
“The cost-of-living crisis has hit hard, and these extensions are about helping families and young people to buy and to keep their homes through challenging times.”
“I am hugely grateful to our partners — the homebuilders, local authorities, mortgage lenders, and the Development Bank of Wales — whose commitment makes all of this possible. Together, we will keep pushing to make homeownership a reality for more people right across Wales.”
Louisa Edwards, marketing manager at Edwards Homes, said: “We welcome the extension of the Help to Buy Wales scheme until 31 March 2027.”
“This is excellent news for first-time buyers, providing continued support to help them purchase a new home in Wales.”
“To date, 45% of Edwards Homes’ sales have been made through the Help to Buy Wales scheme, demonstrating just how important and valuable it has been in helping people take their first step onto the property ladder.”
