The Help to Buy scheme has been extended until 2025 in Wales, it has been announced.
In a written statement about its future by Julie James, minister for climate change, described the scheme as “an important source of support for the housing industry and supply chains”.
Applications for Help to Buy in Wales were set to end in March 2023 but have now been extended by two years. The price cap will also rise from £250,000 to £300,000 as of April 2023 which James said was “in line with increases in average house prices in Wales”.
She added: “It is important to ensure that the extension to the scheme takes account of changes in the housing market, the impact of the current economic climate on potential homeowners and the housing industry.”
James said the extension to the scheme had been developed with the support of UK Finance, the Home Builders Federation, the Federation of Master Builders and the Development Bank of Wales.
She said she wanted to ensure the scheme was relevant and targetted to those who need it. James also announced there would be research into the future needs of homebuyers and how Help to Buy can assist those needs, which will inform the government’s support for people buying a home.
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
