Help to Buy Scheme extended until May

The deadline to buy a home under the current Help to Buy scheme in England has been extended to the end of May ..

The Government has announced that it is extending the legal completion deadline for the current Help to Buy scheme until the 31st of May.

In a statement, Homes England said: “Help to Buy will end on 31 March 2021, but homebuyers using the current scheme will have more time to complete their purchase. We are extending legal completion to 31 May 2021 due to delays caused by coronavirus. This allows an extra two months for homebuilders to complete the build and for homebuyers to legally complete and get the keys to their home,” concluding “there will be no more extensions, so we are asking homebuilders to continue to build at pace”.

The Government said that if buyers cannot meet the legal completion by 31 May 2021, their homebuilder must unconditionally release them from the contract and refund the reservation fee.

The new version of Help to Buy is limited to first-time buyers and subject to regional price caps, while it runs until the March 31 2023.

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