DLUHC announced on 26/01/2023 that it has extended the “First Completion Date” for practical completion of properties being bought with Help to Buy: Equity Loan funding from 31/01/2023 to 17/03/2023:-
“By 17 March 2023, Help to Buy: Equity Loan properties must be build-complete and have reached practical completion. This is to give Eligible Purchasers enough time to legally complete before the scheme ends on 31 March 2023. To meet practical completion, all Help to Buy: Equity Loan properties must have complied with Homes England’s Building Warranty, Planning Permission and Building Regulation requirements.”
NB: There has been no change to the deadline for legal completion of the sale of properties being bought with Help to Buy: Equity Loan funding, which remains at 31/03/2023:-
“To be eligible for Help to Buy: Equity Loan, homebuyers must legally complete the purchase of an Eligible Dwelling on or before Friday 31 March 2023.They are expected to have the keys to their home by 6pm on this date.”
For more information, please contact Dominic Bauers or Stavrina Tofallis.