English housing minister Lucy Frazer has extended the deadline for the completion of Help to Buy transactions by six weeks, according to a letter sent to the Home Builders Federation’s executive chairman Stewart Baseley on January 26th. The extension was granted following the Home Builders Federation’s communication with Homes England and the Department for Levelling Up, Housing and Communities, as a small number of plots were expected to miss the original January 31st deadline.

The minister has extended the deadline for practical completion to March 17th, despite expressing disappointment that extra forbearance is needed for a small number of cases. Developers who wish to utilize this additional forbearance will need to provide Homes England with information about the specific plots requiring forbearance, the reasons for the delay, and their expected completion date.

Frazer emphasized that there will be no further extensions for forbearance as it could endanger the completion of legal procedures by March 31st, 2023. She stated: “I was very clear in my original letter and want to reiterate that there is no leniency on the final legal completion deadline of March 31st, 2023.”

“The end date for the scheme is set and unchangeable. Additionally, there will be no additional funds provided by HM Treasury for transactions beyond the current fiscal year. As a result, homes that do not meet the legal completion deadline of March 31st, 2023 will not have access to the Help to Buy equity loan. I request your continued support in informing your members of this.”