Help to Buy

ianbeale_steeplecocque

Sorry if this has been asked before, but I can't find a clear answer.

I'm buying my first flat, and I've had a statement of completion off my solicitor for £20,000, which I only have if I include the £5000 I have in my HTB ISA.

I know you only get the 25% government bonus after completion which is why I'm confused about when I can withdraw the rest of the cash. Once my solicitor applies for the bonus, can I then withdraw the £5000 and put that towards the £20k?

sugarbabe84

ianbeale_steeplecocque wrote: »

Sorry if this has been asked before, but I can't find a clear answer.

I'm buying my first flat, and I've had a statement of completion off my solicitor for £20,000, which I only have if I include the £5000 I have in my HTB ISA.

I know you only get the 25% government bonus after completion which is why I'm confused about when I can withdraw the rest of the cash. Once my solicitor applies for the bonus, can I then withdraw the £5000 and put that towards the £20k?

My understanding is that when your solicitor requests your deposit, you can then progress to close your HTB ISA account. When you close your HTB ISA, your bank should give you a closure letter which you take to your solicitor.

I'm curious as to what the 25% bonus can be used for though. So far I'm getting conflicting messages.