Help to Buy Scheme: Coronavirus

Ministry of Housing, Communities and Local Government written question – answered on 1st July 2020.

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Photo of Paul Maynard Paul Maynard Conservative, Blackpool North and Cleveleys

To ask the Secretary of State for Housing, Communities and Local Government, if he will extend the closure date for Help to Buy equity loans beyond 31 December for housing developments that have had their completion date delayed by the covid-19 outbreak.

Photo of Christopher Pincher Christopher Pincher Minister of State (Housing, Communities and Local Government)

The Government recognises the disruption COVID-19 has caused to housebuilding; that is why we took decisive steps to re-open the housing market and ensure housebuilding could safely recommence. The Government published a “Plan to Rebuild” on Monday 11 May, setting out the UK Government’s COVID-19 recovery strategy. This makes clear that construction work can be undertaken across England providing sites are able to operate safely in line with the new COVID-19 secure guidelines.

As announced at Budget 2018, there is a new two year Help to Buy scheme commencing from 1 April 2021, specifically for first time buyers, so supporting people onto the housing ladder. Where new build properties are not completed within the current Help to Buy scheme deadlines, they may be eligible for sale through the new scheme. More information on the new Help to Buy scheme can be found at https://www.helptobuy.gov.uk/equity-loan/eligibility/. We continue to monitor the sector.

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