Help to Buy used to purchase more than 2,000 homes in Wales

Figures show that people in Flintshire are seven times more likely to have made it on to the property ladder using the Welsh Government scheme

More than 2,000 homes have been bought in Wales thanks to Help to Buy schemes.
People in Flintshire and Bridgend are seven times more likely to have made it on to the property ladder using the Welsh Government’s Help to Buy scheme than buyers in Ceredigion, new figures show.

Government data, a year after the scheme was launched, shows 200 homes were bought in Flintshire in the first years of the Help to Buy (Mortgage Guarantee) scheme and Help to Buy Wales, a rate of 2.09 sales per 1,000 adults, the highest rate of sales in Wales.

The area was closely followed by Bridgend, with 184 sales, and Newport with 189 sales.
Buyers in Cardiff were the least likely to take advantage of the financial support. The area saw just 17 homes bought through the scheme since it began in January last year.
In the first year of the Help to Buy (Mortgage Guarantee) scheme, there were 1,420 homes bought with its help. Meanwhile, 1,030 homes were bought through Help to Buy Wales in its first year in 2014.

Help to Buy Wales is a £170m scheme, whose priority is to increase the supply of housing in Wales and is on track to support the building of 5,000 new homes.

More than 1,030 homes were bought through Help to Buy Wales in its first year in 2014.
The number of sales through Help to Buy in Flintshire (8.7%) and Newport (8.4%) was equivalent to one in 12 of all the local sales made up to November 2014.

People in Ceredigion were the least likely to use Help to Buy schemes to get on the property ladder, with just 14 sales in the first years of the two schemes, with nine bought through the Mortgage Guarantee scheme and five through Help to Buy Wales.

In the first year of the Help to Buy (Mortgage Guarantee) scheme, from October 2013, there were 1,420 homes bought through the scheme.

The Help to Buy (Mortgage Guarantee) scheme has been open since 8 October 2013 and is available across the United Kingdom.

Under that scheme the UK Government offers lenders the option to purchase a guarantee on mortgage loans where the borrower has a deposit of between 5% and 20%. The scheme can be used for mortgages on both new build and existing homes, and can be used by first time buyers, home movers and for those remortgaging.

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