Help to Buy looks set for extension

The Government’s Help to Buy scheme looks set to be extended as housebuilders warn that home sales are at risk of collapse because of construction delays caused by COVID-19. An announcement on whether to extend the stop date to the Government's loan scheme for new-build homes could come as early as this week, the FT reports. The present scheme is due to end in April 2021. However, applications will be accepted only for properties that are completed by December 31. Construction delays caused by the pandemic, which led most of the larger housebuilders to down tools on sites temporarily, means that thousands of agreed sales on homes that had been scheduled to be completed by the end of the year could fall through if the deadline is not extended.

The Times (28/07/2020)   Financial Times (28/07/2020) The Guardian (28/07/2020)