The deadline for the English Help to Buy scheme has been extended once again to the end of May. This is the third time that Homes England has pushed the date back in response to the pressures and delays caused by the coronavirus pandemic.
The final date for completion has been moved from the 31st March to the 31st May 2021. This is the date by which both the physical build and the legal sale must be completed by. As a result of this change, buyers and builders can enjoy a two-month extension and a little breathing room. However, the government has emphasised the deadline won’t be moved again.
The new extension will surely be welcome news to many. Despite the previous extension providing one month of extra time by pushing the deadline from the end of February to the end of March, many were still concerned that this did not leave enough time for building work to be completed and many sales would still fall through.
This version of the scheme closed to new applicants on 15th December, with the replacement scheme now running and accepting applications. As a result, this extension only applies to existing sales and allowing these to be completed.
Help to Buy extended for all buyers and builders until 31 May – Mortgage Solutions
