The Welsh government has announced it is planning a similar scheme to Help to Buy.
So far in England, the programme has been a big success and has led to a boom in the construction industry, which had previously struggled at the hands of the recession.
Welsh housing minister Carl Sargeant released a statement to the Senedd that said he had been considering a number of options to help first time buyers enter the housing market and something similar to the English scheme is being considered, according to Mortgage Solutions.
“I have been looking at a range of options to support buyers who are struggling to secure a mortgage or purchase an affordable family home,” he said to the Cardiff-based assembly.
Help to Buy offers consumers the chance to access a loan worth 20 per cent of the value of a property.
Perhaps the most attractive aspect of this credit offer is that it is interest free for five years and allows homebuyers to get a cheaper 75 per cent mortgage as opposed to a 95 per cent rate.
However, some activists and analysts have said the coalition policy will create surplus demand and cause a crash in the housing market.
