Help to Buy Scheme if buying off plan
I'm exploring using the help to buy scheme and assumed (whether using it or not) I would purchase an existing property. However, I have recently come across an off the plan townhouse that is part of a larger building development close to where I currently rent (and my ideal scenario would be to stay in this area). However, from the way I am interpreting the information around Help to Buy, the property wouldn't be eligible as the expected completion date isn't for another twelve months. Logically that makes sense - I realise the government isn't going to hold a spot in the scheme for over a year for me, but it would also be incredibly risky to sign a contract without having all my financial ducks in a row (and I certainly am not even considering this). I'm just a little confused how the Help to Buy Scheme actually works for new builds if settlement must occur within 90 days of Help to Buy application approval. Curious to know if anyone has used for a new build and how the timeline worked.