Update on Help to Buy

Any buyers currently purchasing using the Help to Buy scheme will be pleased to hear of an extension announced to the ‘old’ scheme. Despite a new scheme being announced, many transactions coming up to completion now would have been agreed under the previous scheme which was further reaching by allowing second-time homeowners the ability to access an equity loan, whereas the current scheme is now only for first-time buyers.

This extension gives a further two months from the original date of 31st March to 31st May 2021. Housebuilders will be grateful as this offers further time to enable properties to be finished, building completion certificates to be issued, and therefore those delayed transactions to stand a chance of completing.

It does beg the question as to whether this ‘extension’ will be the stance on stamp duty also?? We will find out on the 3rd March!

To find out more about the ‘New’ Help to Buy Scheme, please refer back to our news article posted 16th December.

For any advice or help you need, please get in touch with our team.