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Amendment to the Help to Buy Scheme

Reasons to choose Wilson Browne

Help to Buy is a Government backed equity loan scheme available to homebuyers of new build homes, available to make moving more affordable.

The scheme has been helping homebuyers onto the property ladder since 2013, initially any buyer, subsequently limited to first time buyers, who can proceed with just a 5% deposit.

The current scheme is now set to be withdrawn in March 2023, some two months earlier than originally planned.

This means that any homebuyers hoping to utilise the scheme will need to reserve their properties earlier, and no later than 31st October 2022. This will hopefully provide sufficient time for homebuyers to complete their purchase before the scheme ends in March 2023.

Full details of the scheme can be found here

Jenny Woodruff

Posted:

Jenny Woodruff

Partner

Jenny is a Partner and head of the Residential Conveyancing Team. She has extensive knowledge of the conveyancing process, including: dealing with freehold and leasehold sales & purchases; new build purchases; remortgages; transfers of equity; shared ownership; help to buy transactions & general property advice.