Over 100 builders have signed up to Help to Buy in Wales.

The Welsh Government's £170 million Help to Buy - Wales shared equity loan scheme, which opened for business on 2 January, makes home ownership easier for buyers of new homes who have small cash deposits.

The scheme is set to support the construction of 5,000 new homes across Wales and has already received the backing of many builders and aspiring home owners alike.

Matthew Gilmartin, Manging Director at Beech Developments commented: "We have witnessed first hand the difference the scheme has made to first time buyers and home movers alike to help secure their new home.

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"We have seen a significant increase in the number of buyers looking to use the scheme. Since it’s launch in January 2014 the percentages of buyers opting to use the scheme has risen from 25% of buyers to 40% in the last quarter.

"We are committed to delivering quality new homes in the area and have recently purchased our new site Gwel y Mynydd, off Narrow Lane in Llandudno Junction. Of the pre-sales on this site over 50% of buyers are currently looking to utilise the new Help-to-Buy Wales scheme.

"As a company we have plans to deliver over 200 new homes in the area in the next 3 to 4 years. All our new homes qualify for the government scheme."

(CD)