I don't understand the HtB bonus

edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
TeamocilTeamocil Forumite
122 Posts
edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
I'm likely to apply for a HtB mortgage using my HtB ISA for my share of the deposit. The broker stress he can't take the bonus into account at this stage, which is fine, but I don't understand where it ultimately goes.

If I'm agreeing to borrow £70,000 from the bank and the bonus is £2,500, is the mortgage just adjusted at the end of the process so I actually end up borrowing £67,500? Does it get added to a monthly payment and treated as an overpayment?
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