CML Cymru: developments in retail policy and lending

Low-cost home-ownership in Wales

The Welsh Assembly Government published final guidance on the relaunch of their shared equity scheme DIY Homebuy in May 2009. DIY Homebuy is targeted at first time buyers in Wales but also includes those in a similar financial position to first time buyers. Housing Associations can provide financial assistance by an equity loan for 30 % of the approved purchase price (although there are circumstances in which this can be increased to 50%). Funding for the scheme comes from social housing grant distributed to local authorities from the Welsh Assembly Government.

A copy of the final guidance is attached.