Help to Buy ISA Bonus

Donna_123

Hi,


We are nearly at the point of exchange now. We have read that the Help to Buy ISA bonus does not help you at exchange towards your deposit (really helpful!)


Does anyone actually know where this mysterious bonus floats to? I imagined it would be on the completion statement and knock off the amount of legal fees payable maybe? This leaves us in a weird situation as our legal fees are being covered by the builders...


Any help would be great!

mattk_180

It either comes off the remaining balance of your deposit at completion (unless you've paid the whole deposit at exchange), or it will come off of the solicitors fees at completion. If, in your case, neither of these are applicable, then the money will be returned to you by the solicitor.


That's how I understand it anyway.

ST1991

Not sure if this helps, we haven't completed yet but we had everything ready for exchange/completion last week.

All parties are aware that we have the help to buy ISA. So, we paid our solicitor 5% deposit LESS the bonus.

Your solicitor should apply for it in advance so they hold onto the funds in readiness. At least, this is what ours has done.

Peccary

ours was taken off the solicitors fee (july this year)

anotheruser

Our solicitor took it off their bill at the end.

I don't see why people are moaning it doesn't count towards the deposit. Money is money, if you don't have to pay as much deposit, you will have ti pay the full solicitor fees.

I would suggest it's actually easier having it how it is.