Harder to get on the housing ladder in Wales? Thank the Welsh Government - Willott

August 7, 2013 9:51 AM

Talking

Jenny Willott, MP for Cardiff Central, has criticised the Welsh Government for allowing first time buyers in Wales to be further disadvantaged compared to their English counterparts.

Changes in Welsh Audit Office accounting rules have forced six Welsh Councils to scrap their local mortgage guarantee schemes for first time home buyers, following the collapse of the Welsh Government's NewBuy Cymru scheme for first time buyers earlier this year. A freedom of information request byWelsh Liberal Democrats Housing Spokesperson Peter Black found that all six Welsh Councils operating a local scheme were either winding their schemes up or had already done so.

As a result there will shortly be nowhere in Wales where a first time buyer can get help buying a home, despite the fact that in some counties the age by which somebody is able to afford their first home is as late as 35.

In contrast the UK Government has had a scheme in place for some time and is currently working towards providing even more assistance from January next year.

Commenting on the findings, Jenny Willott MP said:

"Since the financial crisis larger deposit requirements and falling property values have meant that many credit-worthy people can't get a mortgage.

"The Coalition wants to help more people onto and up the housing ladder - but whilst Labour was in charge when the financial crash happened, they're not prepared to help those affected by the fallout.

"First the Labour Welsh Government decides to cancel the NewBuy Cymru scheme, and now they've made even locally run schemes unsustainable by changing the rules. This means first time buyers in Wales are effectively left with nowhere to turn.

"It is important that Government support doesn't distort the property market and push house prices too high, but it's also important that first-time buyers, who didn't cause the financial crash, get the help they need to get a foot up on the property ladder."

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