The Welsh Government has announced it is investing up to £290 million in the second phase of Help to Buy.

Between 2016 – 2021, the funding will aim to support the construction of more than 6,000 additional new Welsh homes, significantly boosting Wales’ building industry and making home ownership achievable for thousands more families.

This second phase of Help to Buy – Wales builds on the success of the current £174 million scheme, which has already helped around 2,400 people buy their home, with another 650 applications in the pipeline.

Wales’ housing sector continues to go from strength to strength, with recent statistics showing that during 2014-15, a total of 6,955 new homes were started, which is a rise of 20 per cent on the previous year.

Announcing the scheme at St Lythans Park in Cardiff, Communities Minister, Lesley Griffiths, said:”Today’s £290 million investment clearly demonstrates this Government’s commitment to encouraging housebuilding and helping people achieve their goal of owning their own home.

“We are seeing sustained growth in Wales’ house building industry and today’s announcement will strengthen this further by increasing the supply of low-deposit mortgages available to people looking to buy a new home.

“This is a huge boost to the Welsh construction industry, and our economy as a whole, which will provide thousands of new jobs and training opportunities for people across Wales.”