**Help to Buy Scheme Extended **
In light of the latest Covid-19 restrictions and their impact on the house buying and building process the deadline for the existing Help to Buy scheme will now be extended by a month to the end of March.
Homes England has confirmed that it would not enforce the first longstop date of 28th February 2021, giving housebuilders an extra month to reach build completion
Key facts at a glance:-
- Practical completion can be reached at any point up to and including March 31.
- The deadline for legal completion remains as March 31.
- The legal completion date is now key for housebuilders and buyers to be eligible for the existing scheme.
But note an exception remains – for homes reserved before June 30 where Homes England has already agreed to a further extension to legal completion, the legal and practical completion deadline is May 31. This reflects the impact of the first national lockdown on construction.
Read the full details here:-Help to Buy scheme extended - GOV.UK (www.gov.uk)
The new Help to Buy scheme is due to be implemented from April 1, featuring regional price caps and for first-time buyers only.
We at CGM Hampshire are specialists in New Build Homes and the Help to Buy Scheme. If you have any questions regarding the impact of these changes on your existing matters with us or regarding a purchase under the New Scheme then please get in touch with us at firstname.lastname@example.org