The current Help to Buy scheme (2013-2021) will end on 31 March 2021, but homebuyers using the current scheme will have more time to complete their purchase.
The Government has extended the legal completion to 31 May 2021 due to delays caused by Coronavirus. This allows an extra 2 months for home builders to complete the build and for homebuyers to legally complete.
All purchasers in the closing scheme now benefit, if required, from an additional two months of forbearance for legal completion up to 31 May 2021.
Homes England and the Government’s website have now been updated. Click here to read the full details.
There will be no more extensions, Homes England is asking home builders to continue to build at pace. The new Help to Buy First Time Buyer scheme is now available with completions from 1 April 2021 to 31 March 2023.