Minister agrees one month Help to Buy extension

Housing minister Lucy Frazer has written to the Home Builders Federation confirming a one month extension to the practical completion deadline for Help to Buy.

On properties where a developer notifies Homes England (in writing) by December 20 2022 that it is unlikely to reach Practical Completion by December 31 2022, the deadline will instead be January 31 2023.

HBF says the forbearance is only available to customers who already have an Authority to Proceed (ATP) or Authority to Exchange (ATE) in progress. No cancelled applications will be reinstated, and no new or additional reservations can be submitted.

It adds that the letter reiterates that there will be no leniency on the final legal completion deadline of March 31 2023. As a result, developers will need to report to Homes England on their progress. Where developers have orders they do not think they are able to complete by March 31 2023, they must communicate this to their customers as soon as possible.

HBF says: “Homes England will shortly contact all developers with an active reservation, notifying them of the amended first longstop date. As part of the correspondence, developers will receive access to an online form …