Written question WQ97919
- Asked by
- Joel JamesConservative
- To be answered by
- Cabinet Secretary for Housing and Local Government
- Tabled
- Due
- Answered
- Time to answer
- 3 days
Question
Will the Cabinet Secretary provide an update on the total number of applications submitted to the Welsh Government’s Help to Stay Wales scheme in 2024-25, and how many were successful?
Answer
Answered by Cabinet Secretary for Housing and Local Government
Help to Stay – Wales was introduced in the context of a crippling cost-of-living crisis. The scheme is still in its infancy, having been operational for just over two years.
The purpose of the scheme is to keep people in their homes. The scheme offers a suite of support options to suit individual circumstances, such as free expert financial advice and help to access free debt advice. If required, the scheme can offer applicants a 5-year interest free equity loan. The loan can be used to reduce mortgage repayments to an affordable level.
Loans are funded by Financial Transactions Capital and are repayable.
Since the scheme launched, 81 applications have been received, and up to 40 households have been supported, or assisted to access support through the scheme, with 5 progressing to an equity loan.