Financial help for Gwynedd first-time buyers

Published date: 01 November 2012 |
Published by: Tomos Hughes
Read more articles by Tomos Hughes

 

 

LOCAL FIRST time house buyers in Gwynedd have received a financial boost following revelations that the county is the holiday home capital of England and Wales.

Last week, it was revealed that Gwynedd topped list of counties with most holiday homes, with a census report detailing over 12,000 second homes in the county.

Local MP Alun Ffred Jones labelled the figure as “frightening”, and expressed concerns about constituents having difficulty in finding a home.

But now, Gwynedd Council will be offering loans to local first time buyers in the county to meet the deposit requirements for a mortgage, in a bid to help Gwynedd residents enter the local housing market.

Councillor John Wyn Williams, the council’s housing cabinet member , said: “Ensuring that there is good quality, affordable homes for local people is a priority for Gwynedd Council and we have been exploring a number of ways to help meet the growing demand. We hope that this innovative scheme will not only return empty properties into use but will also help to deliver quality homes for Gwynedd residents.”

Applicants will be able to apply for a 20% deposit loan to purchase properties up to the value of £150,000, and will have to prove that they have continuously lived or worked in the county for a period of five years before making the application.

Applicants are urged to register their interest at www.taiteg.org.uk by 15 November 2012, and although it will still be possible to register interest in the scheme after this date, residents are reminded that the scheme is run on a first come first served basis.

For more information about the scheme, contact Gwynedd Council’s Empty Properties Team on 01341 424 371 or e-mail taigwag@gwynedd.gov.uk.

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