Homes England has today confirmed an extension of the Help to Buy scheme by one month.
Following widespread concern by builders that many homes would not be complete in time, the completion deadline has been extended in order to give homebuyers the best chance at their homes being built before the 31st of March 2023.
Originally, the scheme required homebuyers to be complete by the 31st of December, this deadline has now been extended to the 31st of January 2023.
Craig Hall, director at LSL New Homes, said: “Following the news that the Help to Buy completion date has been extended by one month, it’s great to see the Government take a ‘common sense’ approach on this, in order to allow builders adequate time to ensure homes are ready under the scheme.
“Already this year, we’ve seen various developers reporting supply issues with materials, including roof slates and boilers, which resulted in completion delays at half year, with completions put back to July.
“Hopefully this extension will now allow developers sufficient time to obtain required materials in order to guarantee practical completion ahead of the extended deadline.
“This will ensure that first-time homebuyers will not lose out on taking their first steps onto the housing ladder and will receive the required sign off on their new home before the legal completion deadline of the 31st of March 2023.”