A council is using a second homes tax to fund loans to first-time buyers in Pembrokeshire, Wales.
The Homebuy Pembrokeshire scheme will provide a loan of up to 30% of a property’s value, which must be used towards a purchase.
The loan is interest-free and secured against the property, while its value is linked to the cost of the home.
Cllr Michelle Bateman, cabinet member for housing, said “The launch of Homebuy Pembrokeshire is part of the administration’s commitment to increasing the supply of affordable housing of all tenures.
“We know that there are barriers which prevent people being able to move onto the housing ladder, and we hope that with this support we can give first-time buyers an opportunity to own their own home.
“The scheme is part of a wide range of measures being taken to address the housing crisis, including our development and acquisitions programme, leasing scheme Wales and support for those wanting to bring empty properties back into use.”
To qualify, applicants have to prove they have a local connection to the County.
The scheme has so far secured £1m to run as a pilot project.