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Property ISA bonus
Neil_Daly74
Posts: 1 Newbie
Hi,
Myself and wife took out 2 Halifax property ISA's but she couldn't get on the mortgage due to a zero hour contract. as the whole deal is near completion my solicitor says I am the only one who can get the bonus as I'm on the mortgage. but the Government website states that you can claim Bonus If not on Mortgage but has to be on the Deeds.so I have asked her to be put on the deeds. I spoke to Land registry they don't have an issue, I spoke to Halifax the lender they don't have an Issue.
My solicitor still claims that the name on the mortgage has to marry up with the Deeds so it cannot be done.
Doe's anyone know why ? or am I dealing with an Incompetent. who has already written my name on contracts wrong, so not very confidence inspiring.
Cheers
Neil
Myself and wife took out 2 Halifax property ISA's but she couldn't get on the mortgage due to a zero hour contract. as the whole deal is near completion my solicitor says I am the only one who can get the bonus as I'm on the mortgage. but the Government website states that you can claim Bonus If not on Mortgage but has to be on the Deeds.so I have asked her to be put on the deeds. I spoke to Land registry they don't have an issue, I spoke to Halifax the lender they don't have an Issue.
My solicitor still claims that the name on the mortgage has to marry up with the Deeds so it cannot be done.
Doe's anyone know why ? or am I dealing with an Incompetent. who has already written my name on contracts wrong, so not very confidence inspiring.
Cheers
Neil
0
Comments
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Only one lender I can think of currently allows more proprietors than borrowers and that is not Halifax. Whoever you spoke to did not understand what you were asking.
If this is allowed, how does the lender repossess the property if the part-owner is not party to the mortgage?
It has massive legal issues and a specialist legal charge which, as mentioned, Halifax does not offer.
So, it's sole borrower/proprietor or joint borrowers/joint proprietors.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
While the person you spoke to at the Halifax had no objection. Your solicitor is under instruction from the Halifax and being named on the mortgage is the norm. Your wife could have been named on the mortgage even with zero income contribution being allowed.0
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Been googling how to use my Help To Buy ISA as I'm currently purchasing a property.
Help To Buy ISA rules specify you must be getting a mortgage to use the ISA. You cannot use or claim a bonus without being named on a mortgage. I think it's mainly to stop first time buyers who can afford to buy it outright taking an extra bonus.
Your wife is not getting a mortgage, thus cannot use and claim the bonus on a Help to Buy ISA.0
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