More than 50 per cent of house buyers in Wales use Help to Buy

More than 50 per cent of house buyers in south-east Wales since the turn of the year have used the Help to Buy scheme, according to a leading builder.

Victoria Williams, sales director at Persimmon Homes East Wales, said 56 per cent of all reservations at Persimmon Homes developments in the region since the start of 2016 have been made using Help to Buy – Wales.

Locally, at Persimmon’s Coed Dyffryn scheme in Aberdare, 42 per cent of sales since January 1 have been made using the Government-backed scheme. The development has since sold out

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Victoria said there had been an increase in the number of people using Help to Buy – Wales from 2015, when around 38 per cent of all Persimmon buyers utilised the scheme.

Persimmon Homes East Wales, based in Llantrisant Business Park, currently has houses for sale in Abergavenny, Newport, Pontypridd, Barry, Newent and Church Village.

“We have seen quite a sharp increase in the number of customers using the popular Help to Buy – Wales initiative,” Victoria 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.

“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.

Victoria added: “Our sales advisers are fully trained in Help to Buy and would be delighted to explain the scheme to househunters.”

For further details on all of Persimmon’s sites, visit www.persimmonhomes.com

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