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Help to Buy ISA - can I still claim before completion?
house_mum
Posts: 20 Forumite
Hi
My daughter had a Help To Buy ISA. She went to the building society a week or so before exchange, to ask how to go about closing it to use the money towards the deposit and claim the bonus. They told her not to rush, as she had 12 months to claim the bonus (they spoke of it being more like a cash back than an amount to go with the saved money towards the deposit). The following week, they were due to exchange on the Wednesday - she went in on the Monday and closed the account. Although the online web chat told her that she'd be issued a closing letter immediately, the branch said that letters came by post and would be a couple of days. The solicitor said that it would be too late to get the bonus, as it had to be used to fund the deposit.
Reading the guidance on MSE about Help To Buy ISAs, point 8 says that it doesn't get used for the exchange deposit, but on completion. They aren't due to complete for another month - she has the closing letter - can her solicitor still apply for their bonus, to go towards the completion monies?
I did put a question on the Help to Buy Facebook page a month ago but they didn't reply ( nor did they reply to other peoples' questions). The Help To Buy website doesn't have any contact details either.
Hoping that there's a solicitor or someone that can answer this!
My daughter had a Help To Buy ISA. She went to the building society a week or so before exchange, to ask how to go about closing it to use the money towards the deposit and claim the bonus. They told her not to rush, as she had 12 months to claim the bonus (they spoke of it being more like a cash back than an amount to go with the saved money towards the deposit). The following week, they were due to exchange on the Wednesday - she went in on the Monday and closed the account. Although the online web chat told her that she'd be issued a closing letter immediately, the branch said that letters came by post and would be a couple of days. The solicitor said that it would be too late to get the bonus, as it had to be used to fund the deposit.
Reading the guidance on MSE about Help To Buy ISAs, point 8 says that it doesn't get used for the exchange deposit, but on completion. They aren't due to complete for another month - she has the closing letter - can her solicitor still apply for their bonus, to go towards the completion monies?
I did put a question on the Help to Buy Facebook page a month ago but they didn't reply ( nor did they reply to other peoples' questions). The Help To Buy website doesn't have any contact details either.
Hoping that there's a solicitor or someone that can answer this!
0
Comments
-
Yes ! She has time
Apparently the whole thing takes a while !
https://www.helptobuyisaadmin.org.uk/sites/default/files/final-version-help-to-buy-isa-scheme-rules-monday-26-october-2015-%285.._1.pdf0 -
Thank you - email to solicitor on Monday I think!0
This discussion has been closed.
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