Homebuyers scheme dropped

The Welsh Government has been criticised for dropping a flagship scheme which promised to help homebuyers access mortgages.

Live updates

Plaid Cymru: Welsh Govt dithered over homes scheme

The Welsh Government has long been dithering on the scheme which would have helped first-time buyers get on the property ladder and its dithering has once again led to disappointment.

It’s high time that it finally took action that can help prospective homebuyers in Wales.

Helping people on to the property ladder gives people capital security and is vitally important for economic growth.

– Rhodri Glyn Thomas, Plaid Cymru Housing spokesperson

Conservatives: Welsh homebuyers left behind

Just a day after being forced to pull a botched back-to-work scheme, this amounts to another Labour mess.

Ministers kicked their heels and failed to get to grips with a scheme that was continually postponed.

While homebuyers in England and Scotland benefit from initiatives launched last year, it is people in Wales who will again pay the price of Labour failure.

Potential homebuyers looking to get on the property ladder deserve far better.

– Mark Isherwood, Shadow Minister for Housing

Advertisement

Carl Sargeant: UK scheme open to Welsh homebuyers

We are currently working through the detail of the new Help to Buy schemes offered by the UK Government and working closely with our stakeholders to consider opportunities for Wales.

The UK Government’s new Help to Buy: Mortgage Guarantee Scheme will be available in Wales for all buyers on new build and existing properties up to the value of £600,000 from January 2014.

My officials are also exploring the Help to Buy: Loan Equity scheme, which is an England only initiative, and options for introducing a similar scheme for the Welsh housing market.

– Carl Sargeant, Welsh Government Housing Minister

Welsh Government drops flagship mortgage scheme

The policy would have helped buyers access high loan-to-value mortgages, and supported the building of 3,000 homes. Credit: PA

The Welsh Government has confirmed it is dropping a flagship scheme which promised to help homebuyers with mortgages.

Housing Minister Carl Sargeant says NewBuy Cymru, which was due to launch on 3 June, will not go ahead, because of a similar scheme announced by the UK Government in last month's Budget.

Back to top