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Another help to buy ISA question... Sorry butI'm really confused!
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houseownerwannabe_2
Posts: 34 Forumite
Hello
I wonder if anyone can clarify something as my solicitor is away until Tuesday and I'm anxious for an answer? We are buying a new build property and need to pay £8800 deposit. We have £4400 in help to buy Isa's which should total £5500 with the government bonus.
The builder needs £5000 on exchange with the balance of £3800 on completion plus around £4000 that they are charging for extras such as carpets etc.
The solicitor says we can't use the Isa's until completion. How will we still qualify for the bonus if we've already paid £5k cash and only need £3800 for the balance? Can the bonus still be used for our extras and our legal fees?
I'm so confused with it all and would appreciate any advice. Thank you
I wonder if anyone can clarify something as my solicitor is away until Tuesday and I'm anxious for an answer? We are buying a new build property and need to pay £8800 deposit. We have £4400 in help to buy Isa's which should total £5500 with the government bonus.
The builder needs £5000 on exchange with the balance of £3800 on completion plus around £4000 that they are charging for extras such as carpets etc.
The solicitor says we can't use the Isa's until completion. How will we still qualify for the bonus if we've already paid £5k cash and only need £3800 for the balance? Can the bonus still be used for our extras and our legal fees?
I'm so confused with it all and would appreciate any advice. Thank you
0
Comments
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Hi houseownerwannabe
My partner and I are currently going through the buying process and both had a Help to Buy ISA.
Our solicitor was the one that had to contact the government to claim the bonus which will be paid into the solicitor bank account so he has told us it won't make much difference what it is used for it can either go with our deposit or he can just keep it for our solicitor fees - it all goes into the same account. Hope this helps!0
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