Still waiting on conveyancer to send me my help to buy ISA bonus

sugarbabe84

I completed and got the keys to my property last week. The process of buying hasn't been an enjoyable one for me, because I had a terrible conveyancer working on my behalf. I honestly have to wonder she was just doing things out of spite.

I'm still waiting for them to send me the Help to buy ISA bonus. This is an inconvenience for me as I have various things I'm needing to pay for in order to settle into my new home.

I sent the HTB ISA closure statement and first-time buyers declaration a long time ago. As part of completion fees I paid £50 for them to apply for the Help to buy bonus, so I'm not quite sure why they aren't sending it.

I called the office yesterday and she said I'm on her to do list and that she would sort it out yesterday. Still nothing.

I was wondering what my rights are in terms of expediting this?

takman

The HTB ISA bonus is to be used for your deposit only and get's sent to your solicitor directly to use only for this purpose.

If it wasn't on your completion statement and added to the total funds that means you have lost it and it will have to be sent back to the scheme (if they ever received it)

whatdoyouthink...

As above, you don't get the bonus paid directly to you, it should have been included in the completion statement you received from your solicitor.

The bonus can't be used to buy things for your house. I think you may have been misinformed if you were told otherwise - which I was, but I was aware it couldn't be.

As you've said you got the ISA closing statement to your solicitor in good time, and if they've not sorted it for you before completion (as you've paid them to) then I'd be looking to get the solicitor to send me a nice cheque!

sugarbabe84

whatdoyouthink... wrote: »

As above, you don't get the bonus paid directly to you, it should have been included in the completion statement you received from your solicitor.

The bonus can't be used to buy things for your house. I think you may have been misinformed if you were told otherwise - which I was, but I was aware it couldn't be.

As you've said you got the ISA closing statement to your solicitor in good time, and if they've not sorted it for you before completion (as you've paid them to) then I'd be looking to get the solicitor to send me a nice cheque!

Thanks for this. This is what they said to me before completion:

‘Good Morning,

I hope you’re well.

In readiness for completion on the 29th June, please find enclosed the final completion statement for your information.

In respect of your ISA Bonus I can advise this is not included on the completion statement as we cannot confirm this will be received prior to completion. Therefore, if you could please confirm your bank details we will transfer the bonus to you once received.

Should you have any queries please do not hesitate to contact me’

Do you think it’s possible they have messed up and are bringing economical with the truth?

This Help To Buy Bonus meant a lot to me and I emailed them about it on many occsssions. If that’s the case what would you suggest as my best course of action?

OnTheLadder

Our solicitor sent our help to buy bonus to us after completion. It totalled about £2,500 and our solicitor transferred to our chosen bank account. We therefore used it towards new things for the house. This was just over a year ago.

takman

OnTheLadder wrote: »

Our solicitor sent our help to buy bonus to us after completion. It totalled about £2,500 and our solicitor transferred to our chosen bank account. We therefore used it towards new things for the house. This was just over a year ago.

This is definitely a breach of the rules and they would have to send the money back if the help to buy scheme found out this happened. What was the reason the bonus didn't arrive in time for completion?.

sugarbabe84

OnTheLadder wrote: »

Our solicitor sent our help to buy bonus to us after completion. It totalled about £2,500 and our solicitor transferred to our chosen bank account. We therefore used it towards new things for the house. This was just over a year ago.

That’s good to know. I was just about to send the conveyancer an email to enquire if there are any issues.

Didn’t you find it frustrating to receive it after completion? I was hoping to have mine on the completion statement as I had factored it into my buying costs.

sugarbabe84

takman wrote: »

This is definitely a breach of the rules and they would have to send the money back if the help to buy scheme found out this happened. What was the reason the bonus didn't arrive in time for completion?.

I suspect they will have to breach the rules in my case. If I don’t get it then I’ll have to take this up with the legal ombudsman

Bass_9

Can anyone post a link to the rules where it says you can only use it for a deposit? I would be interested to see this as I have heard different many people.

takman

Bass_9 wrote: »

Can anyone post a link to the rules where it says you can only use it for a deposit? I would be interested to see this as I have heard different many people.

From: https://www.helptobuy.gov.uk/help-to-buy-isa/how-does-it-work/

Receive bonus: when you are close to buying your first home, you will need to instruct your solicitor or conveyancer to apply for your government bonus. Once they receive the government bonus, it will be added to the money you are putting towards your first home. The bonus must be included with the funds consolidated at the completion of the property transaction. The bonus cannot be used for the deposit due at the exchange of contracts, to pay for solicitor’s, estate agent’s fees or any other indirect costs associated with buying a home.

Bass_9

OnTheLadder wrote: »

Our solicitor sent our help to buy bonus to us after completion. It totalled about £2,500 and our solicitor transferred to our chosen bank account. We therefore used it towards new things for the house. This was just over a year ago.

takman wrote: »

From: https://www.helptobuy.gov.uk/help-to-buy-isa/how-does-it-work/

Many thanks takman, that's really helpful.

But having read that, is it right that can't be used for the deposit, but it goes towards completion? Sorry the bold text made sense but the following sentence has confused me slightly.