Problems with Halifax Help to buy ISA

harbi

Hi All,
I am hoping someone can help me!
My son opened a help to buy ISA when they became available and has been able to pay in the maximum each month. He has recently purchased a flat. He advised the Halifax that he had found a property and wanted to close his ISA and claim his bonus. The Halifax told him that he could not claim his bonus until after his transaction was complete. His conveyancer then said he should have done it before his transaction was complete. Halifax have referred him to HMRC and he has been passed to various departments within HMRC, none of whom seem to be able to tell him what he should do in order to get the bonus paid. Halifax are not being much help either.
Any assistance or insight that anyone could provide would be very much appreciated, as a first time buyer, he could do with the money!
Thank you!

Joshuaa25

I've just used mine with my partner who used hers, once our offer on a house had been accepted and we paid our part of the deposit to the solicitor we had to close our ISA'S down and get the certificate you then give them to the solicitor who claims the bonus from the government around the same time they get the money from the lender before it's paid to the other solicitors.


We got about £800 from ours as we set up 3 months before we bought. (£400 Each)

harbi

Joshuaa25 wrote: »

I've just used mine with my partner who used hers, once our offer on a house had been accepted and we paid our part of the deposit to the solicitor we had to close our ISA'S down and get the certificate you then give them to the solicitor who claims the bonus from the government around the same time they get the money from the lender before it's paid to the other solicitors.


We got about £800 from ours as we set up 3 months before we bought. (£400 Each)

Yes, I am sure that is what should happen, but Halifax appear to have given him the wrong information. Hopefully we can claim retrospectively?

xylophone

http://www.halifax.co.uk/isas/isas-explained/common-enquiries/

You'll need to close your account in one transaction and provide your Help to Buy: ISA closing documents to your conveyancer at the time of purchasing your home and they will claim the bonus on your behalf.



Your son completed and then tried to claim?

harbi

[/Quote]

You'll need to close your account in one transaction and provide your Help to Buy: ISA closing documents to your conveyancer at the time of purchasing your home and they will claim the bonus on your behalf.



Your son completed and then tried to claim?[/QUOTE]

Yes because thats what Halifax told him he had to do, I think it was due to all the confusion about using the bonus as a deposit.

glider3560

Make a formal complaint to Halifax. detailing who and when the misinformation was given. You will receive a response within 8 weeks, after which you can go to the Financial Ombudsman (free) if you don't receieve a response.

By doing this, you may get a compensation payment from Halifax or they may be able to make arrangements with the scheme administrator.

harbi

glider3560 wrote: »

Make a formal complaint to Halifax. detailing who and when the misinformation was given. You will receive a response within 8 weeks, after which you can go to the Financial Ombudsman (free) if you don't receieve a response.

By doing this, you may get a compensation payment from Halifax or they may be able to make arrangements with the scheme administrator.

I will suggest that to him, thank you.
thank you everyone who has tried to help me, it is very much appreciated.

eskbanker

xylophone wrote: »

http://www.halifax.co.uk/isas/isas-explained/common-enquiries/

You'll need to close your account in one transaction and provide your Help to Buy: ISA closing documents to your conveyancer at the time of purchasing your home and they will claim the bonus on your behalf.

Your son completed and then tried to claim?

In my opinion the wording at http://www.halifax.co.uk/isas/cash-isas/help-to-buy-isa/ is less clear and I can see how it could be interpreted by inexperienced (by definition) property purchasers or even bank staff as meaning that the bonus is claimed after completion:

The Government bonus is payable only upon completion and therefore cannot be used to cover any costs associated with the house purchase prior to completion.

cloud_dog

eskbanker wrote: »

In my opinion the wording at http://www.halifax.co.uk/isas/cash-isas/help-to-buy-isa/ is less clear and I can see how it could be interpreted by inexperienced (by definition) property purchasers or even bank staff as meaning that the bonus is claimed after completion:

harbi.... Go to this page and print it off as evidence. If you can print it electronically (PDF) so you can include it in your complaint, i.e. online if that's how it is processed..

harbi

Thank you all, I will get my son on the case and hopefully we can get this resolved once and for all. I appreciate all your help.