The purchase price cap on the Help to Buy, Wales shared equity loan scheme increased from £250,000 to £300,000 on 1 April 2023, and all homes sold through the scheme must meet a minimum of Energy Performance Certificate (EPC) B1. The change followed an announcement in December 2022 by the Minister for Climate Change that the scheme would continue until March 20251. The cap had previously been reduced from £300,000 to £250,000 on 1 April 20211.
Under the scheme, the maximum equity loan is £60,000, or 20% of the purchase price1. After the deposit and equity loan, the remaining balance must be financed through a mortgage no greater than 4.5 times the applicant's household income1. GOV.WALES gives the example of a £300,000 property with a 5% deposit of £15,000 and a 20% equity loan of £60,000, leaving £225,000 to be funded by mortgage; in that case total applicant household income must be £50,000 a year1.
"From 1 April 2023, the purchase price cap was increased from £250,000 to £300,000, with all homes sold through the scheme needing to meet a minimum of EPC B."
In 2023-24, the first year at the higher cap, 519 property purchases completed using the loan, a 10% increase on the previous year but the second smallest annual figure since the scheme began1. The equity loans were worth £25.5 million, against £129.2 million of property value1. The mean purchase price was £248,924 and the median £249,995, both higher than in 2022-23, when they were £218,270 and £231,9951. GOV.WALES said the rise may reflect the higher cap combined with rising average house prices in Wales1.
Almost half of 2023-24 purchases, 48%, fell in the top £250,001 to £300,000 band, a range that did not exist under the scheme the year before1.
| Purchase price | Completed purchases 2023-24 | Share |
|---|---|---|
| £250,001 to £300,000 | 247 | 47.6% |
| £225,001 to £250,000 | 134 | 25.8% |
| £200,001 to £225,000 | 60 | 11.6% |
| £175,001 to £200,000 | 43 | 8.3% |
| £150,001 to £175,000 | 22 | 4.2% |
| £125,001 to £150,000 | 10 | 1.9% |
| All properties | 519 | 100% |
Source: GOV.WALES, Table 11
First-time buyers made up 84% of completed purchases in 2023-24, or 435 of 5191. Just under half of all recipients, 49%, put down the minimum 5% deposit1. The cumulative total since the scheme began in January 2014 reached 14,158 purchases by the end of March 2024, with equity loans worth £563.1 million against £2,849.7 million of property value1.
Why it matters for households
The cap sets the highest price at which a new-build home in Wales can be bought with the loan, so the April 2023 change widened the scheme to homes priced between £250,000 and £300,000. The EPC B requirement applies to every home sold through it, which rules out new builds with a lower rating. The equity loan remains capped at £60,000, so a buyer at the £300,000 limit puts in at least a 5% deposit and takes a mortgage of no more than 4.5 times household income1. The scheme is open to first-time buyers and former owner-occupiers; first-time buyers accounted for the large majority of purchases1.
What happens next
The scheme was extended to September 2026, a decision taken in December 20242. Figures for April 2024 to March 2025, published on 26 June 2025, record 603 completed purchases, a 15% increase on 2023-24, with a mean purchase price of £254,478 and a median of £260,0002. The cumulative total since January 2014 is 14,779, with equity loans of £594.3 million against £3,007.4 million of property value2. GOV.WALES notes that the 2023-24 mean and median figures in the two releases differ, at £248,924 and £249,995 in the earlier release1 and £247,704 and £249,995 in the later one2.
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