advice investments news pension retirement property protection
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." It added that "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 Help to Buy scheme for first-time buyers only starts on 1st April 2021 and ends 31st March 2023.
