Help to Buy ISA guide

peterjmay

Yes i told them i wanted to use it - however they left it too late to let me know to cash it in - and i didnt have time to get to a bank branch to close it in time for completion.

yes but surely they can just claim the reward and send me a cheque in the amount of the bonus when they receive it- its just like giving me a refund. It does state all over the internet that I have 12 months from completion to claim it up until 2030! - So much different information online . They cant snub me for something i am entitled to just because they have been paid. They are a law firm after all! I closed the isa literally the very next day after completing..

eskbanker

peterjmay wrote: »

yes but surely they can just claim the reward and send me a cheque in the amount of the bonus when they receive it- its just like giving me a refund.

[...]

They cant snub me for something i am entitled to just because they have been paid. They are a law firm after all! I closed the isa literally the very next day after completing..

It's not as simple as you make out because this is a highly-regulated scheme with strict rules - if those rules aren't followed then it won't be possible to claim the government bonus as you wouldn't be entitled to it, although it does sound like there may be an argument that the conveyancer was negligent in not advising you of the process.

peterjmay wrote: »

It does state all over the internet that I have 12 months from completion to claim it up until 2030! - So much different information online

Where have you seen this? My understanding is that after closing the account you then have 12 months within which to complete, not the other way round.... The scheme itself finishes in 2030, that's nothing to do with the application of its rules while it's current.

Perhaps worth reading the definitive source of information at https://www.helptobuy.gov.uk/documents/2015/12/scheme-rules.pdf?

peterjmay

i completed last friday and she said she would send me her bill without the bonus to pay and she said she can see what can be done on the monday. she also said she could apply using an interim document at the account was still open. why is this info totally hidden away

masonic

peterjmay wrote: »

i completed last friday and she said she would send me her bill without the bonus to pay and she said she can see what can be done on the monday. she also said she could apply using an interim document at the account was still open. why is this info totally hidden away

That sounds rather suspicious, and in conflict with the scheme rules. Others have been refused the bonus because they'd already completed by the time HM Treasury got around to processing their claim.

peterjmay

what should i do - lawyer keeps ignoring calls and emails

eskbanker

peterjmay wrote: »

what should i do - lawyer keeps ignoring calls and emails

There's nothing you can do about securing the HTB bonus other than via your conveyancer so you'll need to continue to pursue her....

Ultimately, if she's unable to obtain the bonus and you can make a compelling case that she was negligent in failing to do so then you can go through the firm's complaints process and potentially the relevant professional body (Law Society?) but at this stage, you need to persist with attempts to contact her - a face to face appointment perhaps?

peterjmay

how long does it take to receive the bonus of hear if u have got it

masonic

peterjmay wrote: »

how long does it take to receive the bonus of hear if u have got it

From https://www.helptobuyportal.org.uk/Documents/conveyancer-guidelines-for-publication-nov-2016.pdf

The Administrator will process a validated Bonus Request and make the payment to the Eligible Conveyancer’s Client Account within 5 Business Days. A Bonus Request must therefore be made at least 5 Business Days before completion of a property purchase.


Bonus Request Conveyancer must allow at least 5 Business Days to receive payment

Bonus Request: expedited process 1 working day

peterjmay

would i have a case if she neglected to tell me i had no chance in getting the bonus if the isa account was still open at completion date. And also as she said she would try and get it for me after the completion date knowing full well probably it would be rejected.?

eskbanker

peterjmay wrote: »

would i have a case if she neglected to tell me i had no chance in getting the bonus if the isa account was still open at completion date. And also as she said she would try and get it for me after the completion date knowing full well probably it would be rejected.?

Maybe the former but not the latter, if it was already too late by then (but no harm in her trying).

I don't think it's unreasonable for a first time buyer to expect clear and timely information from a conveyancer who's registered to deal with HTB ISA-funded purchases, given the inherent imbalance in knowledge between the two parties, but whether that translates into an actual obligation (to the extent that its lack would be considered negligent) is a different matter.

To me the most obvious way forward is for her to finish off the attempted late bonus claim - if it comes off then great but if not, then find out what she's prepared to do about your financial loss. If she accepts liability then she should compensate you accordingly but if not then you'll need to see what a complaint to the firm will achieve. Bear in mind that when you're up against qualified solicitors you need to have a decent argument lined up....