Convey Law, Wales’ largest conveyancing company, has welcomed the Welsh Assembly’s decision to introduce Help to Buy in Wales.
The £170 million shared equity loan scheme is designed to support home ownership, stimulate building activity and provide a boost to the housing sector.
First time buyers and existing home owners will be able to purchase a new-build home up to a value of £300,000 with as little as a 5% deposit.
The first loans will be available to buyers from the 2nd January 2014 with the scheme due to conclude on 31st March 2016.
Builders who wish to participate in the scheme can now register with the scheme.
Convey Law operates throughout England and has already felt the benefits of the English scheme with increased instruction levels throughout the autumn.
Lloyd Davies, Managing Director, Convey Law said: “We believe that the Welsh Assembly has taken a very positive step in deciding to launch its own version of the Help to Buy Scheme in Wales.
“Confidence in the housing market is certainly growing as we have witnessed during the latter half of this year.
“The UK market is being driven by the South East of England currently and it is vitally important that the Welsh Assembly continue to back home buyers in Wales to achieve the same level of recovery here.”
