The Welsh Assembly Government commissioned a review of Low Cost Home Ownership (LCHO) policies in Wales. The aims of the project were: to assess the effectiveness of LCHO schemes in meeting their stated policy objectives; to assess whether LCHO schemes have wider, or unforeseen consequences on local housing markets and problems; and to advise on whether LCHO schemes were meeting their stated objectives, or whether revisions to the schemes were required, within the policy flexibility available to the Welsh Assembly Government.