Help to Buy ISA Bonus - Land Purchase

BLB1987666

Hi,

Have recently opened a Help To Buy ISA and looking to use it (including the 25% bonus) as a contribution along with other savings to purhase a plot of land and self-build a house.

The GOV website states the HTB ISA and bonus CAN be used to purhcase land but not the construction costs to build a house if land is already owned. I am aware I need to find a self-build mortgage provider, however my question is: If I am to purhcase the land from a family member for a nominal sum (say its MV is £100k but they choose to sell it to me for £1k) could I use the HTB ISA and be eligable for the 25% bonus if I apply for a mortgage to cover the purchase of the land and the construction costs together?

If I was gifted the land I would technically own it already and wouldn't get the benefit of the HTB ISA bonus. Therefore I am trying to find away to make use of the bonus. I have asked my HTB ISA provider and they couldn't answer the question, neither could their in-house mortgage advisers (after 45mins on the phone turns out they don't provide mortgages on self-build anyway!).

[Deleted User]

Better to post on the mortgages board. You'll never get a credit card with a high enough limit for a house.

(Unless you're buying in Sunderland.)

BLB1987666

Got ya, First time user. Will delete and repost. Thanks