What if I don't receive my Help to Buy ISA closing statement before completion?

User1312

Can I give my solicitor a copy of an up to date account summary which includes the fact that it's an HTB ISA?

Or can he apply after completion and we get the bonus later?

Barclays won't send the closing letter by email / print one off in the branch for me and we're completing a week on Monday. There's a chance it won't get here in time!

User1312

Any ideas? Thank you

trevormax

When I closed my account, I went in to the branch (no appointment needed). I closed the account and received the closing certificate then and there. I then scanned a copy on to my computer and emailed it to my solicitor who promptly used it to get me the bonus.

It was very easy and quick. Have Barclays said why they wont give you a copy in the branch? have you complained?

Edit: for info, I was with Lloyds.

NelliePie

I did the same as Trevor when I closed mine with Halifax. I walked into a branch (not my local as I had some free time whilst visiting family) they did it there and then and took about ten minutes. the assistant then printed off two copies of the closing documents then and there (one for me and one for my solicitor). In the end I only needed to scan and email the copy for my solicitor so didn't even need the second copy. I'd go back into Barclays and ask asap.

User1312

I'm closing it tomorrow after Sept payment so I'll ask in branch - but customer service on the phone have said it's post only! I think it's just Barclays

NelliePie

Just to note the bonus cannot be claimed after completion - but is usually claimed between exchange and completion. (stated on HtB website and Barclays website. I don't mean this to sound harsh but if you knew you were completing so soon why have you left it so long to get this sorted?

User1312

We were advised not to close it until exchange in case it falls through, and exchange was meant to happen 2 weeks ago so thought we'd have enough time. Everyday since then it's been "we'll exchange today" but been delayed because of the vendor's solicitor, so the window has closed more and more. We can either push back completion (which will cause all sorts of issues with the vendor) or try to get this closing statement earlier!

FYI I'm now closing it tomorrow whether we exchange or not because I'm panicking!!

NelliePie

Don't panic! You need to be able to go into branch with a clear head and explain that you'd like to close down the account and have a copy of the closing statement before you leave - stay calm and explain the situation. Hopefully the branch staff will be more helpful than the person you dealt with on the phone. I do hope there are some MSE'ers who've done this with Barclays so they can put your mind at rest.

Also good luck with your first house purchase! We completed on our first in June and it's a wonderful feeling. Hopefully I'll see you over in the MFW board sooner rather than later

User1312

Thank you!!

I also hope maybe if a completion statement can't be produced in time, whether an account summary is sufficient - hopefully someone may know the answer to that too!

dlmcr

I don't know how useful this will be to you but me and my girlfriend have just exchanged contracts on a house we are buying. My girlfriend used a HTB ISA as part of this.
We were advised when the completion statement was applied for that it could take up to 10 working days to arrive however our completion was scheduled for 9 working days after exchange. What we were told is that we would have to pay the full amount that was showing on the sols completion statement (yes the amount of the ISA bonus as well) and then when the bonus came through we would be re-imbursed for that. I am not sure if that is standard or whether it varies by solicitor and ISA provider but it may be that you need the funds up front.
My understanding is that when you get the completion statement you will need to send it through to the solicitor for them to apply for the bonus. We were told to send the completion statement over to our sols at around exchange time so obviously we would have needed to apply for it before then to allow the 10 working days quoted for it to arrive in time for them to apply for the bonus. I suspect an account summary is not going to be sufficient because the solicitor will need to see that you have actually closed your account down with the aim of claiming the bonus, but I may be wrong.
Also I think that if you in a situation where you have closed your ISA and claimed your bonus and the sale falls through, there is a form somewhere (maybe on the HTB ISA section of the .gov website) that will allow you to re-start your ISA and then re-claim the bonus when your next purchase successfully completes.

gettingtheresometime

User1312 wrote: »

We were advised not to close it until exchange in case it falls through, and exchange was meant to happen 2 weeks ago so thought we'd have enough time. Everyday since then it's been "we'll exchange today" but been delayed because of the vendor's solicitor, so the window has closed more and more. We can either push back completion (which will cause all sorts of issues with the vendor) or try to get this closing statement earlier!

FYI I'm now closing it tomorrow whether we exchange or not because I'm panicking!!

I've been interested in this thread as my son has been told that his solicitor is waiting for his completion statement even though he's not exchanged yet

He contacted the Halifax and asked the question what happens if he closed the account but the sale fell through & was told that it could be reinstated provided his solicitor completed a statement of non completion (as dlmcr has indicated) so he feels happier in closing it beforehand.