The deadline for Help to Buy sales to reach ‘practical completion’ has been extended a second time to the 17^th March 2023, giving buyers and developers a further 6 weeks after the previous extension to 31^st January. The new deadline comes two weeks before the final deadline for Help to Buy sales to reach ‘legal completion’ on the 31^st March. Our previous blog on this topic goes into more detail on the government definitions of these terms and criteria that need to be met.

In her letter to Homebuilders Federation chair Stewart Baseley, housing minister Lucy Frazer re-emphasised that in cases where the final practical completion deadline is unlikely to be met, ‘it is crucial that developers, in compliance with their contractual obligations, refund customer reservation fees as soon as possible’.