Help to buy isa and deposit

Klouise77

Hi all
Sorry if this has been asked already.
Buying a house offered accepted and solicitor instructed we want to use our help to buy isa for deposit. Aware of the recent press reports that you are unable to use the bonus towards the deposit which is ok but would we be able to bonus for legal costs or do we get that we'll after? Would we be better closing account and forego the bonus in order to get the money In there for despising?

PrettyFlower90

You can't get the bonus without closing the account, so you have to do that anyway and get the closing statement to give to your solicitor. They should then process it correctly as you're paying them to.

TJParsons

Based on our own current experience, you'll close the ISAs prior to exchange, and send the closing statements to your solicitor. They will then claim the bonus on your behalf. For exchange, you'll need to provide the full deposit funds, as the bonus is not available until completion (silly, I know). The bonus funds will then be used for the completion statement, and the money you've paid upfront for the exchange deposit can be used for conveyancing fees/ stamp duty.

Again, this is based on our own experience for the process we are currently going through. I keep expecting an email from the Solicitor to say there's a problem with that process, as it doesn't seem to have been very well thought out.