The Welsh Government’s Help to Buy Wales scheme is helping people who might otherwise not be able to afford a home to become homeowners.
The scheme has already helped more than 14,500 households to purchase their own homes. Since April 2022, 84% of purchasers have been first-time buyers.
In December, the Cabinet Secretary for Housing and Local Government, Jayne Bryant, announced an additional £57m to extend the scheme until September 2026, allowing even more people to achieve their dreams of homeownership.
The Cabinet Secretary recently visited Locke Gardens, a Lovell Homes development at Glan Llyn in Newport, to meet with new homeowners who have benefited from the scheme.
One of the purchasers, Venkatesh Mandapati, was previously renting in Newport before he and his wife purchased their three-bedroom home at the Lovell development through Help to Buy Wales.
The Cabinet Secretary said: “When meeting Mr. Mandapati, I heard first-hand how Help to Buy Wales has transformed his life from renter to homeowner. The scheme is delivering real change for people across Wales, helping individuals and families enjoy the security of owning their own home.
“I’m particularly pleased about the support we are providing to first-time buyers through Help to Buy Wales, helping them take their first step onto the property ladder.
“We will continue to work with developers and partners to ensure Help to Buy Wales is accessible to those who need it most.”
Suzie Hewitt, Regional Sales Director of Lovell, said: “Help to Buy Wales is an excellent scheme that has helped many of our purchasers get their foot on the property ladder and gain access to a home of their own. At Locke Gardens, 36 per cent of buyers have used the scheme to purchase a range of two and three-bedroom house styles available at the development.
“We were delighted to welcome the Cabinet Secretary to Locke Gardens to discuss the scheme and speak first-hand to Lovell residents who have benefited from it, and we look forward to connecting more buyers with the right home for them with the help of the scheme going forward.”
