The Help to Buy equity loan scheme was launched in April in England, prompting the Welsh government to axe its own plans to bring NewBuy to the nation.
The Welsh government is working on launching a Help to Buy scheme but Persimmon said it was unfair customers in Wales had to wait and has launched its own scheme in the interim.
The similarly titled Help You Buy scheme will be offered over the next six months on new Persimmon houses in Wales, with an interest-free equity loan from the builder replacing the government’s contribution.
Other differences mean that only homes worth £300,000 or less will be eligible for the scheme, unlike Help to Buy which is available on properties worth up to £600,000. Help You Buy will also be limited to homes in South East and South West Wales.
Glyn Mabey, Persimmon Homes’ regional chairman for Wales, said: “Since the UK government introduced Help to Buy in England we have had to turn away many disappointed prospective buyers in Wales as the Welsh government is still to introduce an equivalent scheme, which our Welsh customers see as very unfair.
“As the largest homebuilder in Wales, we have decided to take the initiative and introduce an equivalent scheme ourselves, to put Welsh home buyers on a level playing field until the Welsh government catches up.”
Richard Price, Wales planning and policy manager for the Home Builders Federation (HBF), said: “The HBF is working closely with the Welsh government to introduce a Help to Buy scheme to reflect the highly successful model already in operation in England.
“However, it is great to see one of our members Persimmon Homes taking the initiative to bridge the gap in Wales until a Welsh government scheme is up and running. This will be a great boost to Welsh home buyers, and something we fully support.”
