The government’s new Help to Buy scheme, which will replace the current Help to Buy scheme, will come into place from 1 April 2021 and run until March 2023. The new scheme introduces property price caps and is restricted to first-time buyers only, supporting people onto the housing ladder.
Housing Minister Rt Hon Christopher Pincher MP said:
This government is committed to helping a new generation to realise their dream of home ownership, and since 2010 we’ve helped more than 640,000 families into home ownership through our support including Help to Buy and Right to Buy.
This announcement will help provide certainty and assurance for Help to Buy customers whose new homes have been delayed due to coronavirus and affirms the government’s commitment to helping more people to own their own home.