Anyone had success claiming the HTB isa bonus yet ?

WorriedFTB_2

I have been trying to find out how long it takes to receive the bonus. No one knows , bank, solicitors ...

I read the guides available here and in HTB website .

So far I have not seen anyone here with a sucessfull claim .

We are due to exchange in a few weeks and despite having meticulously paid the amount I fear that I won't be able to benefit from this bonus .
According to the t&c the money can't be used as a deposit which really contradicts the whole thing . So confusing !

Would be nice to know if has worked out for someone and how :cool:

anselld

http://www.moneysavingexpert.com/news/savings/2016/02/first-help-to-buy-isa-bonuses-paid-out-as-couple-from-colchester-bag-800-between-them

WorriedFTB_2

I very much doubt the veracity of the facts . It does not match chronologically...


According to the HTB scheme rules :



" If the Eligible Conveyancer has received the documents referred to in paragraph (A)(i) (closing letter) and is satisfied that they have verified the points outlined in paragraphs (A)(ii) and (B) (as applicable) above, they shall apply to the Administrator using the Help to Buy: ISA Website for a Bonus on behalf of the Help to Buy: ISA Holder. (5 working days)

Once the Administrator has completed the steps listed in paragraph (D) above, it shall notify the Eligible Conveyancer via the Help to Buy: ISA website that: 5 working days

(i) the application for the Bonus has been verified and approved by the Administrator (a “Bonus Approval Notification”); or

(ii) that the application for the Bonus has not been approved by the Administrator (a “Bonus Rejection Notification”)

Once the Eligible Conveyancer has received a Bonus Approval Notification, the Eligible Conveyancer shall be entitled to submit a Payment Request to the Administrator via the Help to Buy: ISA Website. 5 working days

Following the receipt of a Payment Request, the Administrator shall: 2-5 working days

(i) pay the Bonus to the Client Account of the Eligible Conveyancer within
the time frame provided in the Conveyancer Guidelines; 3 working days .


Surely over 10 working days !?

lauren_hb

I may be confusing myself here as read too much on the subject, but is it correct that when you close the HTB Isa the government bonus cannot be used as part of the deposit? But obviously the money you've put in you use as a deposit, plus other savings if this is the case? When then do you actually receive the government bonus and what does that go towards?

amr547

lauren_hb wrote: »

I may be confusing myself here as read too much on the subject, but is it correct that when you close the HTB Isa the government bonus cannot be used as part of the deposit? But obviously the money you've put in you use as a deposit, plus other savings if this is the case? When then do you actually receive the government bonus and what does that go towards?

I have this question too and nobody seems to know! The FAQs on the conveyancer site say it can't be used towards a deposit...

E. It also says on FAQs for conveyancers they should put it towards completion of the property. But haven't you already transferred funds prior to that? So where does that money go,..?

WorriedFTB_2

Yes ! All very confusing :rotfl:
I closed ours today at the bank ,the bank manager had to ring head office as she didn't know how to deal with it.
Then she say I will receive the closing letter within 7 working days... I doubt that I will have time to get the bonus as we are due to complete in a few weeks .

On a very positive note the account had £7,50 interest added from December when I opened until closure . :eek:

Let's hope I can benefit from the bonus .If I succeed I will definitely open a thread here ...
Xx

Missnikon

WorriedFTB wrote: »

Yes ! All very confusing :rotfl:
I closed ours today at the bank ,the bank manager had to ring head office as she didn't know how to deal with it.
Then she say I will receive the closing letter within 7 working days... I doubt that I will have time to get the bonus as we are due to complete in a few weeks .

On a very positive note the account had £7,50 interest added from December when I opened until closure . :eek:

Let's hope I can benefit from the bonus .If I succeed I will definitely open a thread here ...
Xx

Please keep us posted