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Housing Minister confirms Help to Buy will not be extended

Jessica Nangle

November 3, 2020

There will be no extension to the March 31 deadline for the Help to Buy scheme in England according to a Housing Minister Christopher Pincher.

Despite calls for an extension, the Housing Minister stated there was to be no further deadline changes.

There have been changes previously announced, including a new Help to Buy Equity Loan scheme being introduced in April 2021 and closing in March 2023 and two extended deadlines for builders working on Help to Buy properties.

The newly introduced scheme will run will be restricted to first-time buyers and for houses in line with newly introduced regional property price caps.

Christopher Pincher MP said in a written response to Conservative MP Andrea Leadsom: “The government recognises that there have been delays caused by COVID-19.

“That is why on 31 July a two-month extension was announced to the building completion deadline from 31 December 2020 to 28 February 2021.

“The legal completion deadline for the purchase remains 31 March 2021.

“The government also announced an extra measure to protect existing customers who have experienced severe delays as a result of coronavirus.

“Homes England, who administer Help to Buy, will work with those who had a reservation in place before 30 June to assess their situation and look to provide an extension where necessary.

“In which case, they will have until 31 May 2021 to legally complete.

“We believe these measures provide sufficient time for developers to build out homes delayed by COVID-19 and protect customers whose purchases have been significantly delayed.

“There are no plans to extend the current scheme further.”


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