THE Help to Buy Wales scheme is being extended.

The scheme supports people looking to own a new build home, ensuring homes are affordable and within reach of buyers.

It was originally due to close to applicants in March 2021, then extended to March 2022.

However, minister for housing and local government Julie James announced today it would run until March 2023.

Since its inception in 2014, more than 10,215 homes have been bought through the scheme.

The third phase of the scheme will introduce some changes from April 2021 including the reduction of the price cap from £300,000 to £250,000 as well as improved quality with all homes being broadband ready.

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The Minister for Housing and Local Government said: “Ensuring everyone in Wales has access to a good quality, safe and affordable home is this government’s ambition.

"I am pleased to announce our intention to extend Help to Buy Wales until March 2023, subject to the availability of funding beyond 2020-21 from the UK Government.

"I have said I am committed to providing affordable housing and should funding not provided by the UK Government, than Welsh Government will commit to funding phase three of Help to Buy Wales for at least a further twelve months, until March 2022.

"I want to ensure support is available to all those who need it when making the most significant purchase of their lifetime and allow developers to plan for their future.

"We will continue to work with developers and all stakeholders over the coming months to ensure homes purchased using Help to Buy are not just of good quality but are broadband ready to allow home owners to have instant access to essential services."