Making headlines in the property news last week was the announcement of the extension to Help to Buy in Wales. Read on to find out what the Welsh government have confirmed, along with the updates to the scheme.
Extended until 2022
It was scheduled to come to an end in March next year, but it has been announced that the Help to Buy Wales scheme will be extended until March 2022. And providing funding will be available, there are plans to extend it further, until March 2023. Help to Buy Wales supports those looking to buy a new build home by making sure properties are affordable and obtainable. Since the scheme was launched back in 2014 it is reported that around 10,215 new homes have been bought through it.
Changes to the scheme
From April 2021, when the scheme starts its extended third phase, there will be some changes made. The first will see a reduction in the price cap on properties available, going down from £300,000 to £250,000. There will also be focus placed on making homes broadband ready for buyers. There’s a need for good quality homes, which are affordable, but also for homes which connect people to essential services.
Continuity for all
The decision to extend the scheme, offers renewed hope for both buyers and developers alike. These are testing times for all of us. For buyers, especially first-time buyers, there is now the additional pressure of getting a mortgage. Since the pandemic struck, mortgage lenders have clamped down on their offerings. And for developers too, they can plan for the future, knowing there is the support there to help people buy new homes.
What’s available in Wales
Of course April 2021 is still some way off, when Help to Buy Wales will reduce its cap to £250,000. But in any case, here are three examples of new build homes in Wales under £250,000, which are currently available to buy with the Help to Buy scheme.
This is the perfect starter home from Barratt Homes, designed to a high-spec, contemporary standard. It features an open-plan lounge/dining area, with a separate kitchen where there’s space for a breakfast table. There’s a master double bedroom and a single bedroom, both sharing a modern bathroom, while outside you’ll find a single garage with two parking spaces.
Central Cardiff is only a short drive away from the development, which sits on the border of St Fagans and Raydr, making it an ideal location for young professionals or young families. It’s a great opportunity to get on the property ladder with the help of Help to Buy Wales.
Made for modern living, The Beaumont 3-bedroom home from Macbryde Homes is on a development of new build homes set amongst beautifully landscaped surroundings. Located close to the market town of Abergele, there’s an abundance of coastal and hill walks, beaches, and cycleways on your doorstep. Schools, shops in the village, and Abergele Business Park are all close by to cater for busy family life.
The property itself embraces free-flowing, open-plan living, dining, and kitchen areas, all facing the rear garden, with plenty of natural light coming through the French doors. To the upstairs, the master bedroom benefits from an en-suite, as well as built in storage space. While an integrated single garage comes in handy for storing all those other family essentials. Select properties on the development are available with the Help to Buy Wales scheme.
The Chapel Fields development from Barratt Homes is located in the popular area of Loughor, only 15-minutes away from Swansea city centre. The development features a selection of properties to suit first-time buyers, growing families, and those looking to downsize.
Plot 53 is a 3-bedroom semi-detached property in a traditional style, offering plenty of space for modern living. A good-sized lounge is complemented by an open-plan kitchen with dining area. To the first floor, there is a generous master bedroom with an en-suite, a further double bedroom, single bedroom, and family bathroom. The property is available with Help to Buy Wales and only requires a 5% deposit.
Whether you are in Wales currently or looking to move there and buy a brand-new home, we can help you with your property search. We bring the new homes from across a selection of developers within one place, so you can easily find those properties available with Help to Buy Wales. Start your search with us here.