Help to Buy - Wales puts first time buyers onto the property ladder

Leading housebuilder Barratt has pledged to help as many first time buyers in South Wales as possible take their first step on the housing ladder this year following the launch of Help to Buy – Wales.

Barratt, which has a number of developments in South Wales, has welcomed the arrival of Help to Buy – Wales as a massive boost to the local housing market.

The government backed scheme, Help to Buy - Wales, is helping first time buyers take the first steps onto the housing ladder with just a 5% deposit.

“We know first time buyers face a number of challenges but we believe Help to Buy - Wales will give more people than ever before the chance of owning their own home,” said Barratt Homes sales director Richard Lawson.

“There are so many advantages for first time buyers. In past years, we know that saving money for a deposit can be difficult, but if you can raise the 5% deposit you will be able to buy a new home with Help to Buy – Wales,” added Richard.

Help to Buy - Wales, which is only available on new homes, is made up an “equity loan” and “mortgage guarantee”. This means that you only need a 5% deposit to qualify for the best mortgage rates and then the Welsh Government will lend you up to 20% of the value of your property through an equity loan.

The scheme is available at developments including Copper Quarter in Swansea, Parc Tyn y Coed in Bridgend and Castlemead in Caerwent.

“There is a high degree of pent up demand for new homes in South Wales and we believe Help to Buy – Wales will enable buyers to make their move into a new Barratt home,’’ added Richard.

If you would like find out more about how Barratt is helping first time buyers in South Wales log onto barratthomes.co.uk.