HUNDREDS of first-time buyers are missing out on government help because they aren't aware it is available.

Certain areas throughout Wales qualify for a Welsh Assembly scheme entitled 70/30, which offers an interest-free loan to buy 30 per cent of a property. The loan, exclusive to new buyers, does not have to be repaid in part or whole until the lender either sells his/her house or opts to pay it off voluntarily to obtain full home ownership.

Currently Newport, Monmouthshire, Torfaen and Caerphilly boroughs all qualify for the scheme, but according to 42-year-old financier Richard Hill, few people are taking it up.

"The scheme is designed to help people who may not otherwise be able to afford a new home because of rising house prices," said Mr Hill, director of KMS, in Newport.

"The problem is because it has only been available for the last few months, people aren't aware of it."

To be entitled to the 30 per cent loan, which can be anything up to £166,000 for a large family, purchasers must be in full-time employment and otherwise not able to afford their desired home.

Although all mortgage advisers and brokers are entitled to publicise and make use of the scheme, not all do.