Help to Buy Scheme

(asked on 15th December 2020) - View Source

Question to the Department for Levelling Up, Housing & Communities:

To ask the Secretary of State for Housing, Communities and Local Government, if he will extend the help-to-buy scheme to enable smaller developers to obtain materials and meet their obligations to buyers.


Answered by
Christopher Pincher Portrait
Christopher Pincher
This question was answered on 11th January 2021

The Government recognises that there has been market disruption. That is why on 31 July a two-month extension was announced to the Help To Buy building completion deadline from 31 December 2020 to 28 February 2021. The legal completion deadline for the purchase remains 31 March 2021. However, the Government also announced some additional flexibility to protect existing reservations made before 30 June 2020. These sales, by agreement with Homes England, must reach practical completion by 30 April 2021 and legal completion no later than 31 May 2021. More information can be found at https://www.gov.uk/government/news/help-to-buy-scheme-extended . There are no plans to extend the current Help to Buy scheme beyond 31 March 2021 and a new two-year Help to Buy Equity Loan scheme for first time buyers commences on 1 April 2021. More information on the new scheme can be found at: https://www.helptobuy.gov.uk/equity-loan/help-to-buy-equity-loan-2021-2023/ .

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