Continued funding for Help to Buy – Wales, Help to Stay – Wales, and the Empty Homes Grant provides welcome short-term certainty for buyers, homeowners, and the property sector. However, targeted assistance must form part of a wider, long-term housing strategy that increases supply across all tenures and ensures that people in Wales can access homes they can afford.
More properties can be returned to use
Propertymark campaigning helped lead to the Welsh Government's announcement of a National Empty Homes Grant in 2023. Up to £25,000 is available for essential repairs and energy-efficiency improvements needed to make a long-term empty property safe to occupy.
To qualify, a home generally must have been registered with the relevant local authority as unoccupied and unfurnished for at least 12 months. Owners or prospective owners must intend to use it as their main, and only residence for at least five years after the funded work is completed.
The extension is expected to support up to 300 additional empty and neglected properties.
Empty homes crisis: Propertymark’s roadmap to bring properties back into use
Tackling empty homes is a practical and achievable way to increase housing supply without relying solely on new development. By combining stronger local action, targeted incentives, and clearer national direction, governments can unlock the potential of existing housing stock and support more people into secure homes.
Help to Buy continues for new-build purchases
A shared equity loan of up to 20% supports eligible buyers to purchase a new-build home if they can provide a minimum 5% deposit and obtain a repayment mortgage covering at least 75% of the purchase price. The maximum purchase price is £300,000, and participating homes must meet specified quality and energy-efficiency requirements.
The latest extension could enable up to 400 more households to use the scheme. The Welsh Government has invested more than £600 million in Help to Buy – Wales since its launch, supporting over 15,000 purchases. Since April 2022, 85% of those using the scheme have been first-time buyers.
The additional certainty will benefit agents marketing eligible new-build properties. Agents should ensure prospective buyers understand that eligibility and affordability checks apply and direct them to the official guidance and application process.
Mortgage safety net remains available
The Help to Stay scheme is intended for homeowners experiencing financial difficulty and at serious risk of losing their main residence. It can provide a low-cost shared equity loan to repay part of an existing mortgage, reducing the outstanding balance and bringing monthly payments down to a level the household can afford.
Applicants must first explore the support available from their mortgage lender and seek independent debt advice. Eligible homeowners receive specialist mortgage advice funded by the Welsh Government before any assistance is approved.
