Help to Buy scheme to support the purchase of new houses announcedby the Wales Housing Minister Carl Sargeant.
Buyers with small deposits will have additional interest free help from the Welsh Government.
This is the hoped for start of a sustained housing market recovery in Wales.
It is however support for the purchase of new builds in an attempt to see the number of housing starts in Wales increase.
Whilst the news has been welcomed there are those that think with the likely increase in interest rates just around the corner that we could be storing up more trouble for the future.
You need to make sure what you borrow is affordable now but also if interest rates should rise by 2 or 3%.
Don't forget every 1% rise on a £100,000 mortgage adds £1000 per year to your houshold bill or £83 per month.
Don't bite off more than you can chew!
3rd July 2013