Help to Buy booming in Wales
09 March 2016
Since the start of the year, more than 60 per cent of house buyers in West Wales since the turn of the year have used the Help to Buy scheme.
Sharon Robinson, sales director at Persimmon Homes West Wales, said 62 per cent of all reservations, exchanges and completions at Persimmon Homes developments in the region since the start of 2016 have been made using Help to Buy – Wales.
Sharon said there had been an increase in the number of people using Help to Buy – Wales from 2015, when around 40 per cent of all Persimmon buyers used the scheme.
“We have seen quite a sharp increase in the number of customers using the popular Help to Buy – Wales initiative,” Sharon said. “People are clearly finding it to be a very useful way to get onto the property ladder. I think the increased use in Help to Buy has been because of a greater awareness of the scheme. It has been well advertised and I think most people know at least something about it now.
Sharon continues: “We build houses to suit people at all stages of their life, but there is a particular emphasis on first time buyers as that is what is needed in South Wales. Our high quality, affordable smaller properties are perfect first homes, and they are popular with people who use Help to Buy – Wales.”
Help to Buy – Wales is a Welsh Government initiative to help first time buyers and existing home owners purchase a new-build home up to a value of £300,000 with as little as a five per cent deposit. Under the scheme, the Welsh Government provides a 20 per cent shared equity loan, leaving the buyer with a 75 per cent mortgage.
Sharon added: “Our sales advisers are fully trained in Help to Buy and would be delighted to explain the scheme to house hunters.”