Help To Buy Scheme help please

[iwishiknewthatbefore]

We will be in a position to buy our house and start the process of doing mortgage etc. around February/March time. I'm looking to see if anyone knows about the actual changes to help to buy scheme that are going to be put in place 1st April 2021? I'm worried that if something doesn't go to plan, we will be set behind in terms of deposit and therefore won't be able to go through with this scheme I've had different, conflicting information from multiple sources and I'm just so confused as to what's actually true. Online it says that it will still be available but to first time buyers only(which we will be) and with regional caps which will be a problem for us as the house is more than the cap from what I've read online. An estate agent said that the scheme is continuing as it currently is until 2022, another estate agent told me that it will be scrapped completely at the end of this year and not even open to first time buyers. I'm just looking for some real information from someone who knows facts about this scheme that I can rely on and plan towards. Thanks!!

I've taken this from a Facebook page I'm on:

Help to Buy which has been in place for some time will be changing. We are letting you know as virtually all of our clients use this facility, the main changes going forward there will be a Regional price cap put place, this will limit the price of the house you can buy dependent on where it is.
Secondly, it will only be available for First Time Buyers, currently if you've already owned then you can still use it as long as you have sold the first home. These two points together may effect a lot of our Forces families so we wanted to share the information and advise a way forward.

New Help to Buy regional price caps (First Time Buyers Only) effective in 2021
Region Price cap for properties eligible for Help to Buy from April 2021 to March 2023
North East £ 186,100
North West £ 224,400
Yorkshire and the Humber £ 228,100
East Midlands £ 261,900
West Midlands £ 255,600
East of England £ 407,400
London £ 600,000
South East £ 437,600
South West £ 349,000

When will this be?
Well the official date from the government is 31.3.2021

Does this mean i have a full year to find a home?
No, in fact a lot less, all developers have been told that they are not to sell any homes using the old scheme which can't be built by December this year, this means that allowing time for the normal conveyance process our clients need to be reserving their house in the next four months to qualify for the current Help to Buy scheme.

Who will this effect?
Any of our clients who have ever owned a home even if they have sold it
Any of our clients that need a larger home due to family requirements that price comes above the government cap which is going to be put in place next year.

What should i do next?
If you think this might effect you then get in touch, we are here to help and will be happy to advise, lets make 2020 a record year for securing Homes

@notheragain4 oh no thank you! So looks like we can't do it then 😢

How come? Is the regional cap too low for you?