Help to Buy Wales available on new homes in Newport
The scheme was set to end in March 2025 but has been extended to September 2026.
This means more people can benefit from the scheme's assistance to buy a home.
Developer Lovell Homes is encouraging buyers to consider purchasing with Help to Buy Wales at its two Newport developments, Royal Victoria Court and Locke Gardens.
The scheme is available on properties up to £300,000 and enables buyers to purchase a new-build property with just a five per cent deposit.
The remainder is made up of a 75 per cent mortgage and a 20 per cent equity loan, which is interest-free for the first five years.
Suzie Hewitt, regional sales director at Lovell Homes, said: "Help to Buy Wales is an excellent scheme, so we were delighted by the news that it has been extended until 2026.
"For most people, buying a home is one of the biggest investments they will ever make, and this scheme has made the dream of homeownership possible for many buyers who would've thought it was out of reach."
Lovell Homes is currently providing new homes at two developments in Newport – Royal Victoria Court and Locke Gardens.
Royal Victoria Court is located off Cardiff Road, on the site of the former Whiteheads steelworks, and consists of 264 two, three and four-bedroom houses and one and two-bedroom apartments.
Locke Gardens, on the site of the former Llanwern steelworks, consists of 286 two, three and four-bedroom homes.
To date, 53 per cent of buyers at Royal Victoria Court and 36 per cent at Locke Gardens have used Help to Buy Wales to purchase their new home.
Ms Hewitt added: "We have a fantastic selection of homes under £300,000 available in Newport, which have been designed for first-time buyers, growing families and those looking to rightsize to a more manageable property.
"We can't wait to help more buyers make the move to a new Lovell home and would encourage anyone who is interested to get in touch with our sales team to find out more."
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