The government has belatedly agreed to extend the practical completion deadline for homes reserved under the Help to Buy scheme just days before the deadline was due to be passed. The decision potentially saves hundreds of delayed purchases from collapse.

Housing minister Lucy Frazer said in a letter to the Home Builders Federation yesterday evening that housebuilders will now have until 17 March to achieve practical completion of homes sold under Help to Buy, having previously said that they had until 31 January.

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