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Written Statement - The Launch of NewBuy Cyrmu

Carl Sargeant, Minister for Housing and Regeneration

Today, I am pleased to announce the launch date of 3 June for the NewBuy Cymru Scheme.

NewBuy Cymru, a mortgage guarantee scheme will assist up to 3,000 welsh households to meet the mortgage criteria specified by lenders. It will enable high loan to value mortgages of up to 95% using a shared model of guarantees from both house builders and Welsh Government. It will assist potential home buyers, first time and those hoping to move up the property ladder to purchase a new build home up to the value of £250,000 with a deposit of just 5%.