(Reuters) - The UK Takeover Panel has extended the deadline for the 720 million pound ($913.7 million) all-share takeover proposal by homebuilder Bellway for its FTSE midcap peer Crest Nicholson to Aug. 20, the companies said on Thursday.

The deadline, originally scheduled on Thursday for Bellway to make a firm offer or walk away, was extended following requests from the two companies to allow further talks after "good progress" had been made on various due diligence matters, the homebuilders said in separate statements.

($1 = 0.7880 pounds)

(Reporting by Aby Jose Koilparambil in Bengaluru)